HK passes bill allowing third-party arbitration funding

Hong Kong’s Legislative Council on Wednesday passed a bill allowing third-party funding in arbitration, which is expected to come into effect later this year.

Singapore, Asia’s other leading arbitration seat, passed a similar bill in January, so this move is “a welcome development, which will help Hong Kong maintain its status as one of the world’s leading dispute resolution centres,” said Justin D’Agostino, global head of disputes at Herbert Smith Freehills, in a statement.

Source: HK passes bill allowing third-party arbitration funding | Asian Legal Business