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Singapore introduces funding for arbitration cases, January 2017

Here we provide an update on a significant law passed by the Singapore parliament this week, which will dramatically alter and improve the legal/arbitration landscape in Singapore in respect of third party funding.

In our November 2016 briefing (please click here for a copy) we discussed third party funding in arbitration proceedings in the context of imminent changes in Singapore law on provision of third party funding and a key English judgment.

It has just been announced that these anticipated amendments to Singapore’s Civil Law Act have been passed by Parliament and will become law as soon as gazetted, meaning that what we anticipated in our November 2016 briefing are now likely to be realistic considerations for those practising in Singapore.

This is one of many developments in recent history which continue to cement Singapore’s regional and international prominence in international arbitration.

HFW is well placed to advise clients on these new developments, not only are we leaders in the arbitration field, but we also have experience of funding and adverse legal costs insurance across both litigation and arbitration, and have solid relationships with the leading funders, insurers, and brokers. Please contact Chanaka Kumarasinghe, Partner, Singapore, on +65 6411 5314, or chanaka.kumarasinghe@hfw.com, or Paul Wordley, Partner, London, on +44 (0)20 7264 8438, or paul.wordley@hfw.com if you would like to discuss funding or adverse legal costs insurance options relevant to your matters.

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