In the summer of 2017,Hong Kong became the first jurisdiction in China to codify formal financing arbitration and to make it clear that third-party funders with no legitimate interest in the disputes could be allowed ...In the summer of 2017,Hong Kong became the first jurisdiction in China to codify formal financing arbitration and to make it clear that third-party funders with no legitimate interest in the disputes could be allowed to inject capital to support funded parties in arbitration cases.With the latest Code of Practice coming into effect in the spring 2019,Hong Kong is ready to guide the funders in detail on delivering investments into the arbitral procedures in the harbor seat.By examining these legislative processes in Hong Kong,it can be proved that financing arbitration will enable enterprises to dispose of their disputes with easier access to justice,promote the quality and efficiency of dispute resolution,and improve the welfare of society as a whole.Therefore,it is justifiable to adopt third-party funding in China-related arbitration to promote the Chinese mainland's arbitration practices and support the international proceedings involving Chinese parties,particularly the international ones arising from investments related to the Belt and Road Initiative.展开更多
文摘In the summer of 2017,Hong Kong became the first jurisdiction in China to codify formal financing arbitration and to make it clear that third-party funders with no legitimate interest in the disputes could be allowed to inject capital to support funded parties in arbitration cases.With the latest Code of Practice coming into effect in the spring 2019,Hong Kong is ready to guide the funders in detail on delivering investments into the arbitral procedures in the harbor seat.By examining these legislative processes in Hong Kong,it can be proved that financing arbitration will enable enterprises to dispose of their disputes with easier access to justice,promote the quality and efficiency of dispute resolution,and improve the welfare of society as a whole.Therefore,it is justifiable to adopt third-party funding in China-related arbitration to promote the Chinese mainland's arbitration practices and support the international proceedings involving Chinese parties,particularly the international ones arising from investments related to the Belt and Road Initiative.
