Between 30 June and 29 July 2016 the Ministry of Law consulted on the Draft Civil Law (Amendment) Bill 2016 and Civil Law (Third Party Funding) Regulations 2016 for Singapore.
Susan Dunn, Head of Litigation Funding, remarks: “We regard the proposals set out in the consultation as a very positive development for dispute resolution in Singapore. Having over 14 years’ experience funding in 12 jurisdictions and under 4 seats of arbitral rules, enables us to offer nuanced feedback, highlighting possible methodologies which can help bolster public confidence in third party funding.”
Ruth Stackpool-Moore, Head of Harbour Hong Kong, adds: “Singapore has a real opportunity to further promote its growth as a leading venue for international dispute resolution. Beyond commercial arbitration, Singapore could also consider permitting third party funding of proceedings in, at least, the Singapore International Commercial Court and all connected proceedings in other fora in Singapore.”