Conditional fee agreements, Contingency Funding, Costs, Costs in arbitral proceedings, Counsel, Counsel fees, Fee Agreeements, Hong Kong, outcome related fee structures, Singapore

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In Singapore, lawyers and their clients will soon be able to enter into conditional fee agreements (“CFAs”) for arbitrations and certain court proceedings. CFAs provide parties with an alternative to traditional fee arrangements and third-party funding (“TPF”) by enabling part or all of their lawyers’ fees and costs, as well as an uplift fee, to…

Arbitration, Contingency Funding, Hong Kong, Singapore, Third party funding

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While Hong Kong and Singapore legislated in 2017 to allow third party funding of arbitrations (“TPF”),1)In Hong Kong, the amendments to the Arbitration Ordinance (Cap. 609) ultimately took effect in February 2019. both jurisdictions presently still bar “No-Win, No-Fee” and other outcome related fee arrangements between parties to arbitration and their lawyers. This is out-of-step…