In the context of increasingly complex international commercial disputes and diversified demands for dispute settlement, the development of third-party funding is irresistible. The third-party funding model while providing investment opportunities for the funders and sharing the economic burden and arbitration risks for the parties to disputes, makes up for the lack of a legal aid…
Singapore to expand permitted categories for third party funding
The Ministry of Law (MinLaw) has approved changes that will be implemented on the 28th June, which will see the third-party funding (TPF) framework widened to allow for the inclusion of domestic arbitration proceedings, certain proceedings in the Singapore International Commercial Court (SICC), and related mediation proceedings. The new funding options offer businesses an alternative…