HONG KONG’S FUNDING LAW NOW IN FORCE

Hong Kong’s long-awaited legislation permitting third parties to fund arbitrations and related proceedings takes effect today. As heralded in our earlier posts, this is a widely welcomed development in one of the world’s leading arbitral seats, and is expected to generate considerable activity. If you have questions on the new law, funders’ Code of Practice, … Read more

Singapore: Herbert Smith Freehills advises on third-party funded arbitrations and contributes to leading publication on litigation funding

Singapore introduced legislation in 2017 to allow third-party funding in international arbitration and associated proceedings including enforcement and mediation. Our Singapore team is already representing clients in two significant Singapore-seated arbitrations in which the claimants are third-party funded. It is understood that these are amongst the first funded arbitrations in Singapore. In the light of … Read more

HERBERT SMITH FREEHILLS CONTRIBUTES TO LEADING PUBLICATION ON LITIGATION FUNDING

Hong Kong has recently seen a flurry of legislative activity in relation to third-party funding. The long anticipated law allows third parties to fund arbitrations seated in Hong Kong including related court and mediation proceedings, as well as work done in Hong Kong for arbitrations seated elsewhere. These legislative changes will come into force on … Read more

A significant step towards simpler judicial procedures and reduced re-litigation: Hong Kong and the Mainland sign a broader arrangement to recognise and enforce judgments in civil and commercial matters

On Friday 18 January 2019, Hong Kong and the Mainland reached a milestone by signing the Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters between the Courts of the Mainland and of the Hong Kong Special Administrative Region (“Arrangement“). When taken together with other similar arrangements that are in train, … Read more

Japan and Hong Kong agree arbitration and mediation cooperation

On 9 January 2019, Hong Kong’s Department of Justice and the Ministry of Justice of Japan signed a Memorandum of Cooperation (MoC) to “strengthen collaboration on international arbitration and mediation“. The MoC, a copy of which is available here, provides a general administrative framework for cooperation between Japan and Hong Kong in relation to international … Read more

Herbert Smith Freehills edits and contributes chapters to Getting the Deal Through – Financial Services Litigation 2018

There has been a significant rate of global growth of litigation in the financial services sector following the 2008 global financial crisis. While the existence of financial services litigation is truly a global phenomenon, it has become apparent that the law and procedures in relation to such disputes have evolved in different ways across the … Read more

ICC and KLRCA sign MoU to promote dispute resolution in Asia

On 1 November 2017, the Kuala Lumpur Regional Centre for Arbitration (KLRCA) and the International Court of Arbitration of the International Chamber of Commerce (ICC) signed a Memorandum of Understanding (MoU), agreeing to work together to promote dispute resolution in Asia. The signing of the MoU will further enhance the relationship between the two institutions, … Read more