Third-Party Funding in Singapore and Hong Kong: Recent Developments Towards Legalization
On 10 January 2017, the Parliament of Singapore issued the Civil Law (Amendment) Bill No. 38/2016, making Singapore the first Asian state that will formally allow and regulate third-party funding. The very next day, Hong Kong Legislative Council proceeded to the second reading of the Arbitration and Mediation Legislation (Third Party Funding) (Amendment) Bill 2016, which should be adopted later this year. Both developments open up new options for users of international arbitration seeking to hedge the risks of financing a dispute.
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