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Part I Mapping the Terrain, 5 Gamblers, Loan Sharks, and Third-Party Funders

From: Ethics in International Arbitration

Catherine A. Rogers

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 25 September 2020

This chapter explores the participation of third-party funders acting within the scope of international arbitration, as well as the criticisms thereof. Popular contention suggests that litigation financing can lead to the corruption or commodification of justice — an issue that history has repeatedly rendered moot. Throughout the years, there has been a close interrelationship between market forces and the legal profession — the linking of business and profession together has even been practiced by such historical greats as Abraham Lincoln. Furthermore, doing away with third-party funding and market forces in general can limit the functions of justice. The better approach is to recognize the often indelible presence of the marketplace in judiciary proceedings, and thereby establish substantive rules and regulations that can narrow down the specific functions the third-party funder is meant to exercise.

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