International Arbitration: English Court of Appeal Upholds High Court Ruling that ICSID Awards Cannot be Assigned

Mark Clarke, Alina Sartogo, Bastien Tirel and James TG Lack of Akin share that the English Court of Appeal has ruled that ICSID arbitration awards cannot be assigned without the debtor state’s consent, preventing litigation funders and award purchasers from directly enforcing such awards in England and Wales, in a decision that diverges from more permissive approaches in the US, Australia and the Netherlands and underscores the need for alternative funding structures that retain the original award creditor as the enforcing party. Funder Blasket Renewable Investments has sought permission to appeal to the UK Supreme Court.

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