Guest Speaker, Quentin Pak explained the participants that legal finance is the funding provided to the client for the Arbitration proceedings. He talked about how these cases and disputes are like an asset in which the third party funders have invested and how they obtain returns from the share of the claim that their client obtains after getting an Arbitration Award in their favor. He later explained how third-party fundings can be helpful in regard to the parties of the Arbitration proceedings, helping the law firms and aiding in providing non-monetary value to the parties.
Speaker, Sonali Mathur clarified that the common law principles of Maintenance and Champerty were rejected by the various courts of India.
Guest Speaker, Quentin Pak also briefed about Single Case Financing, Defence Finance and Portfolio Finance with the help of a case study.
The session concluded with a brief discussion on practical issues like the importance of having a funding agreement and not the funding terms, and the attorney-client privilege.