Singapore arbitration update: Third Party Funding and New SIAC Rules 2016

This week has seen two major developments in Singapore arbitration. First, Singapore's Ministry of Law has published draft legislation to legalise and regulate third party funding for arbitration (and arbitration-related litigation and mediation) in Singapore. Second, the Singapore International Arbitration Centre (SIAC) confirmed the release of the sixth edition of its Rules: the SIAC Rules 2016, to come into effect on 1 August 2016.

Below we explain briefly the effect of the proposed legislation and the SIAC Rules 2016.  More in-depth analysis will follow.

Continue reading

Summary and expedited procedures in arbitration: good news for the financial services sector?

In this article, Nicholas Peacock, Dominic Kennelly and Anees Naim consider three recent developments which suggest that summary and expedited procedures are becoming more available in arbitrations. Will this make arbitration increasingly suitable for banks and financial institutions?

This article was first  published on on 19 May 2016.

Continue reading