The Singapore Parliament passed a Bill which permits third-party funding in international arbitral proceedings seated in Singapore as well as related court or mediation proceedings. The Bill entered into force on 1 March 2017 as the Civil Law (Amendment) Act 2017. The Singapore International Arbitration Centre (“SIAC”) can already be considered as one of the top five most preferred arbitral institutions in the world. The legal permissibility of third-party funding makes Singapore even more attractive as venue for international arbitral proceedings. For more details please read the latest Luther Newsletter – click HERE!
For further guidance and assistance please contact:
- Els Van Poucke, LL.M. / Attorney-at-Law, Counsel / Luther LLP – please click HERE