国际投资仲裁中第三方资助披露规则的检视与完善

Review and Improvement of the Disclosure Rules for Third-Party Funding in International Investment Arbitration

摘要: 在国际投资仲裁领域，第三方资助的加入为由于资金困难而无力提起仲裁的投资者提供了接近司法正义的有效路径，然而现行规则对第三方资助信息披露的监管方面存在不足，包括定义僵化、规则模糊和缺乏强制性等问题。这些不足可能引发资助者与仲裁员之间的利益冲突、增加滥诉的风险，并阻碍投资争议的有效解决。为妥善平衡投资者与东道国之间的权益关系，有必要明确申请人对第三方资助的强制披露义务，合理界定披露的程度，并赋予仲裁庭拥有通过调整仲裁费用施压申请人履行披露义务的权利。

Abstract: In the field of international investment arbitration, the introduction of third-party funding has provided an effective path for investors who are financially constrained and unable to initiate arbitration to approach judicial justice. However, the current rules have deficiencies in the supervision of the disclosure of third-party funding information, including rigid definitions, ambiguous rules, and a lack of enforceability. These deficiencies may lead to conflicts of interest between funders and arbitrators, increase the risk of frivolous lawsuits, and hinder the effective resolution of investment disputes. To properly balance the rights and interests between investors and host countries, it is necessary to clearly define the applicant’s mandatory disclosure obligation regarding third-party funding, reasonably define the extent of disclosure, and grant the arbitral tribunal the power to pressure the applicant to fulfill the disclosure obligation by adjusting arbitration costs.