Notice: We are currently performing maintenance to improve the italaw platform. The site remains fully accessible. Thank you for your patience.

Sundance and Congo Iron v. Congo, Claimant's Press Release, May 3, 2021

3 May 2021
Sundance Resources Limited and Congo Iron SA v. Republic of Congo, ICC Case No. 26145/DDA/AZO (C-26344/AZO)
View case details
Claimant's Press Release
Document Details:
LISTED PARTICIPANTS
Claimant's Press Release
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Claimant's law firm
Respondent's counsel
Respondent's law firm
Other counsel
Claimant's expert
Claimant's expert firm
Respondent's expert
Respondent's expert firm
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Third-party funder
Entities
Sundance Resources Limited, Congo Iron SA, Burford Asia Investments, Burford Capital, Clifford Chance, Cameroon, Congo
Country
Print reporter
Document Summary
Claimant's Press Release
This summary note is machine-generated. Always consult the original materials.

This document is a public announcement issued by Sundance Resources Ltd on 3 May 2021, confirming that it has secured third-party litigation funding to pursue international arbitration proceedings against the Republic of Congo and, potentially, Cameroon.

The announcement details that the claimant has executed a binding Capital Provision Agreement with Burford Asia Investments, an affiliate of Burford Capital. Under the terms of this agreement, the funder will provide non-recourse financing to cover the legal fees and associated costs of the arbitration. The specific commercial terms of the funding arrangement remain confidential.

The underlying dispute involves active arbitration proceedings seated in London under the rules of the International Chamber of Commerce (ICC). Within these proceedings, the claimant's subsidiary, Congo Iron SA, is asserting claims for damages amounting to USD 8.76 billion, alongside other relief, against Congo. The document further notes that the claimant is represented in the arbitration by the international law firm Clifford Chance.