Fee Agreeements

Fee Agreeements, HK Arbitration Week, HKIAC, Hong Kong, outcome related fee structures, Third party funding

, (Freshfields Bruckhaus Deringer)/ /Leave a comment
HK45

On the third day of Hong Kong Arbitration Week 2023, the ADR in Asia Conference, the flagship event of the Hong Kong Arbitration Week, hosted a panel discussion on the Hong Kong Outcome Related Fee Structures for Arbitration (“ORFSA”) regime. The panel followed on from last year’s panel introducing ORFSA and explored updates to the…

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

(Shearman & Sterling LLP) and (Shearman & Sterling)/ /Leave a comment

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, Fee Agreeements, Hong Kong, outcome related fee structures, Third party funding

(Shearman & Sterling LLP)/ /Leave a comment

Hong Kong currently prohibits lawyers from using outcome related fee structures (“ORFSs”), including “No-Win, No-Fee” type arrangements, for arbitrations and other contentious matters. This looks set to change for arbitrations, however, following the publication late last year of a compelling Consultation Paper by the Outcome Related Fee Structures for Arbitration Sub-committee of the Law Reform…