Singapore
Tags: arbitration, Dispute Resolution, Litigation, Singapore, Third-party FundingBy Abraham Vergis, Asiyah Arif & Niki Chen
abraham@providencelawasia.com asiyah@providencelawasia.com
Third-party funding is increasingly prevalent globally in both litigation and arbitration. Prior to the legislative change in Singapore, many of the leading centres of international arbitration, e.g. New York, London, and Paris, had already permitted third-party funding.
Third-party funding involves the funding of a claim by a funder who has no connection to the dispute. Usually, the third-party funder will agree to finance some or all of the client’s legal fees in exchange for a share of the recovered damages.
In order to maintain and fortify Singapore’s prominence in international disputes, the Singapore Parliament passed the Civil Law (Amendment) Bill which amended the Civil Law Act (Cap 43) (“CLA”). This came into effect on 1 March 2017.
In the below PDF, Providence Law provides a brief overview of the key changes relating to third-party funding in Singapore.
Articles by Lawyer
The Assistant Registrar’s Role in the Judicial Hierarchy
The decision in Peter Low LLC provides the latest judicial pronouncement on the role and position of an Assistant Registrar in the judicial hierarchy ...
Singapore High Court issues guidance on grant of super priority
On 8 November 2017, in Re Attilan Group Ltd [2017] SGHC 283 (“Re Attilan”), the Singapore High Court took its first steps towards building a corpus of jurisprudence on the grant of super priority ...
The Future of Med-Arb Clauses in Singapore
Multi-tiered or escalation Alternative Dispute Resolution (“ADR”) clauses have gained increased popularity amongst parties seeking a flexible resolution process ...
Recent Developments in Patent Law
Sun Electric Pte Ltd v Sunseap Group Pte Ltd and others ...
Further Developments in Singapore’s Bankruptcy and Insolvency Regime
The Omnibus Insolvency Bill ...
Related Articles by Firm
Bintai Kindenko Pte Ltd v Samsung C&T Corp [2018] SGCA 39
– Principles Governing Adjudication of Claims under the SOPA ...
Tay Wee Kiat and another v Public Prosecutor and another appeal [2018] SGHC 114 and the Criminal Justice Reform Act 2018 – Implications for criminal compensation orders
Recent changes evidence a gradual paradigm shift in recognising that criminal law is not just about the public interest, but also the interests of victims.
The Singapore International Commercial Court considers the quantification of the Close-Out Amount under the ISDA Master Agreement
The decision provides clarification on how the Close-Out Amount under Clause 14 of the ISDA Master Agreement is to be calculated.
Liability of directors for a company’s breach of contract
The question of when a director may be held liable for directing a company’s breach of contract has significant ramifications for companies and their directors.
Guidelines on cost awards for SICC cases
The Singapore International Commercial Court passed a significant ruling in CPIT Investments v Qilin World Capital.
Legitimate discount or undervalue transaction?
Parakou Investment Holdings Pte Ltd and another v Parakou Shipping Pte Ltd (in liquidation) and other appeals [2018] 1 SLR 271 ...
Singapore: Deferred prosecution agreements
The Singapore government is looking to introduce deferred prosecution agreements as part of a slew of proposed changes to the Criminal Procedure Code.
Singapore: Vicarious Liability and Insurers
The Decision in Ong Han Ling v American International Assurance Co Ltd ...
Singapore: Recent Developments in Trade Mark Enforcement
In recent times, Singapore’s undisputed position as a global leader in shipping and intellectual property has come under substantial challenge ...
Singapore: CIFG Special Assets Capital I Ltd (formerly known as Diamond Kendall Ltd) v Ong Puay Koon and others and another appeal [2017] SGCA 70
The central issue in the appeal was whether CIFG could claim the entirety of its losses against each of the Initial Shareholders jointly and severally.
The Assistant Registrar’s Role in the Judicial Hierarchy
The decision in Peter Low LLC provides the latest judicial pronouncement on the role and position of an Assistant Registrar in the judicial hierarchy ...
Singapore High Court issues guidance on grant of super priority
On 8 November 2017, in Re Attilan Group Ltd [2017] SGHC 283 (“Re Attilan”), the Singapore High Court took its first steps towards building a corpus of jurisprudence on the grant of super priority ...
The Future of Med-Arb Clauses in Singapore
Multi-tiered or escalation Alternative Dispute Resolution (“ADR”) clauses have gained increased popularity amongst parties seeking a flexible resolution process ...
Recent Developments in Patent Law
Sun Electric Pte Ltd v Sunseap Group Pte Ltd and others ...
Further Developments in Singapore’s Bankruptcy and Insolvency Regime
The Omnibus Insolvency Bill ...
Mauritian Company Successfully Enforces US$300 million LCIA Award in India
On 6 July 2012, Mauritius-based Cruz City Mauritius Holdings obtained a US$300 million award rendered by a London Court of International Arbitration tribunal. Cruz City thereafter sought to enforce this award in the High Court of New Delhi against its joint venture ...
What’s new about the SIAC Investment Arbitration Rules 2017?
With the introduction of the Investment Arbitration Rules 2017, the SIAC is now the first private arbitral institution to cater separately to investment and commercial arbitrations ...
Recent Significant Changes to the Corporate Regulatory and Restructuring Regime in Singapore
In an effort to ensure Singapore’s corporate regulatory regime continues to stay robust and to strengthen Singapore’s status as a leading global financial hub, the Companies (Amendment) Act 2017 (“CAA 2017”) was passed by Parliament on 10 March 2017 ...
Related Articles
Related Articles by Jurisdiction
Venture capital in Southeast Asia — 2018 review
As the preeminent venture capital and private equity practice in the offshore legal arena, Walkers continues to see record activity levels in venture capital fund raisings and fund establishments in Southeast Asia ...
Singapore: Vicarious Liability and Insurers
The Decision in Ong Han Ling v American International Assurance Co Ltd ...
Singapore: Recent Developments in Trade Mark Enforcement
In recent times, Singapore’s undisputed position as a global leader in shipping and intellectual property has come under substantial challenge ...
Latest Articles
Providence Law Asia LLC
