The Ministry of Law has announced that third-party funding will be permitted for a wider scope of categories, including domestic arbitration, Singapore International Commercial Court proceedings, and related court and mediation proceedings. This will take effect from 28 June 2021. Singapore’s legislation previously addressed third-party funding only in the context of international arbitration and related court and mediation proceedings.
Disputants should be aware of third-party funding and consider its applicability or suitability in their potential claims. In this Update, we look at the new categories of proceedings in which third-party funding is allowed, as well as the related regulatory amendments.
For more information, click here to read the full Legal Update.
