Singapore Allows Third Party Funding for International Arbitration
In mid-2016, the Singapore Ministry of Law conducted a public consultation on legislative amendments to introduce a legal framework for third party funding for international arbitration in Singapore. These legislative amendments were introduced in a first reading in Parliament on 7 November 2016. They are expected to be passed by Parliament shortly after the next available sitting, which is currently scheduled to take place on 9 January 2017.
This update looks at the impact of the proposed legislation on the international arbitration landscape in Singapore.