On June 25 (Wednesday), Lee & Ko co-hosted a seminar with LITIG Equity Partners titled “Effective Management of International Disputes and Strategic Use of TPF (Third Party Funding).”
The seminar opened with welcoming remarks from Eun Young Park, Head of the International Disputes Group at Lee & Ko, Professor JJoon Hyug Chung of Seoul National University School of Law, and Jin Seung Moon, CEO of LITIG Equity Partners.
In the first session, Attorney Joon Won Lee of Lee & Ko gave a presentation on “Strategies for Korean Companies to Manage Contingent Liabilities through TPF.” He introduced the legal frameworks surrounding TPF in various jurisdictions, noting that TPF can be utilized even in cases where Korean companies are defendants or respondents in litigation or arbitration. By doing so, companies can benefit from accounting advantages, eliminate downside risks arising from potential losses, and engage in settlement negotiations with their counterparts focusing solely on the merits of the claim, without the need to factor in future legal expenses. He further emphasized that TPF represents an attractive option for Korean companies, particularly in high-value cases such as intellectual property disputes, investor-state arbitrations, and construction disputes, as a means to monetize legal claims.
In the second session, Tae Hun Lee and Hanwool Park of LITIG Equity Partners presented on “Effective use of TPF by Korean Companies in Cross-Border Disputes.” They highlighted that companies can strategically employ various types of funding—such as single-case funding and portfolio funding—depending on the specific circumstances of each legal dispute. They also noted that Korean companies are increasingly turning to TPF in international arbitration and enforcement of arbitral awards, and stressed the importance of consulting with TPF advisory firms to secure funding from appropriate funders under optimal terms, as funders may have differing preferences for types of cases.
The third session attorney Saemee Kim of Lee & Ko LLC, who spoke on “The Potential Use of TPF in IP Disputes.” She pointed out that while IP disputes have traditionally been resolved through litigation in national courts, arbitration is becoming an increasingly common mechanism. She also noted a global trend among major jurisdictions toward broadly recognizing the arbitrability and enforceability of disputes over intellectual property ownership, validity, and infringement.
Finally, in the fourth session, Mr. Mitchell Dearness and Mr. Chee Chong Lau of Omni Bridgeway delivered a presentation on “Case Studies on How Global Funding Groups Have Driven the Growth and Use of TPF.” They emphasized that TPF has been widely used in class actions and enforcement proceedings in jurisdictions like the United States and Australia. They further shared that Korean companies are increasingly applying for and receiving TPF from Omni Bridgeway, particularly in cases involving the enforcement of foreign judgments and arbitral awards.
