Originally from Handbook on Third-Party Funding in International Arbitration, Second Edition

PREVIEW PAGE

PART I.  THE THIRD-PARTY FUNDING LANDSCAPE

1.   The TPF market in Ireland

1.1.  Please shortly describe the TPF market in your Jurisdiction.

Currently, there is no market for third-party funding in Ireland. It stands apart from other common law jurisdictions in its continued prohibition on the use of third-party funding in litigation due to the torts of maintenance and champerty. However, there are indications that some progress is being made with the pending amendment to the Arbitration Act 2010 to permit third-party funding for international commercial arbitration.  In addition, the Law Reform Commission published a consultation paper on 17 July 2023 inviting submissions by 15 November 2023. A report on the consultation and submissions is likely to be published in 2024.

1.2.  Is it dominated by local or international Funders? Which Funders are active? Which cases typically get funded?

Not applicable.  If third-party funding is permitted, it is likely that international funders based in London will be interested in the Irish market. Harbour Litigation Funding based in London funded the Supreme Court case, Persona (which will be discussed below), that determined that litigation funding is prohibited and that is a matter for the legislature.

1.3.  What types of funding exist (e.g., ISDS, Commercial Arbitration, portfolio funding, respondent-side funding etc.)?

None at present. However, a pending amendment to Section 5 of the Arbitration Act 2010 will permit third-party funding for international commercial arbitration and related court proceedings or mediation.