SINGAPORE TO ALLOW CONDITIONAL FEE ARRANGEMENTS

On 1 November 2021, a bill to permit Conditional Fee Arrangements (CFA) had its first reading in the Singapore Parliament. If the bill is passed, it will permit law firms and lawyers in Singapore to enter into CFAs with their clients in respect of certain types of disputes (whether relating to proceedings in Singapore or … Read more

Update: Singapore extends third-party funding framework to domestic arbitrations and SICC proceedings

From 28 June 2021, Singapore will permit third-party funding of domestic arbitration proceedings, proceedings in the Singapore International Commercial Court (SICC) and related mediation proceedings. Before this, Singapore permitted third-party funding for international arbitration proceedings and related court and mediation proceedings only (as reported in our blog post of January 2017). In making these changes, … Read more

CROSS POST: UNCITRAL PUBLISHES INITIAL DRAFT ON THE REGULATION OF THIRD-PARTY FUNDING IN INVESTOR-STATE DISPUTE SETTLEMENT

In a recent post on our Public International Law Notes blog, Christian Leathley, Amal Bouchenaki, Florencia Villaggi and Louis Thivierge consider the UNCITRAL Secretariat’s initial draft provisions on the regulation of third-party funding in Investor-State Dispute Settlement, which presents various potential models that the Working Group on Investor-State Dispute Settlement Reform may adopt for regulating … Read more

PODCAST: ICC RULES 2021 – WHAT YOU NEED TO KNOW

Following the release of the ICC’s new 2021 Arbitration Rules in draft on 9 October 2020, Craig Tevendale (Partner and UK Head of International Arbitration), Thierry Tomasi (Partner) and Vanessa Naish (Professional Support Consultant) have recorded a podcast discussing the top 5 changes to be aware of in the new Rules, being: Amendments to the … Read more

THE NEW ICC RULES 2021: WHAT YOU NEED TO KNOW

The International Chamber of Commerce (ICC) has released its 2021 Arbitration Rules in draft (the 2021 Rules). This is a “soft launch” with the current text still subject to editorial changes prior to their formal release in December. The 2021 Rules will come into force on 1 January 2021. Read more

FUNDING IN SINGAPORE AND HONG KONG: HERBERT SMITH FREEHILLS CONTRIBUTES TO LEADING PUBLICATION, ACTS ON FUNDED CASES

Third party funding is a hot topic in Asia. As noted on this blog, Singapore introduced legislation in 2017 to allow third-party funding in international arbitration and associated proceedings, including enforcement and mediation. Hong Kong’s funding legislation takes effect today. Our Singapore team is already representing clients in two significant Singapore-seated arbitrations in which the … Read more

Hong Kong funding law to take effect 1 February

Hong Kong has published its long-awaited Code of Practice for third party funders, and announced that amendments to the Arbitration Ordinance which permit funding of Hong Kong arbitrations will come fully into force on 1 February 2019. Similar amendments to the Mediation Ordinance (Cap. 620) have been deferred for further consultation. Read more