King & Wood Mallesons review the Law Reform Commission’s “Report on Third Party Funding for Arbitration” recommending that the Arbitration Ordinance (Cap. 609) be amended to permit third party funding in arbitration, mediation and litigation proceedings under the Arbitration Ordinance. The authors note that the reform is likely to have a significant impact on the construction industry which continues to rely on arbitration, mediation and litigation proceedings under the Arbitration Ordinance as its primary means of dispute resolution. This article discusses the background to and results of the Report and some of the key takeaways for the construction industry in Hong Kong.
About Phillip Rompotis
Phillip practices as a barrister and arbitrator in Hong Kong. He has over 25 years’ litigation and arbitration experience in commercial disputes relating to construction & engineering, financial services, joint venture & shareholders agreements, technology, trusts, property and landlord & tenant. He is a Fellow of the Chartered Institute of Arbitrators, the Singapore Institute of Arbitrators, the Malaysian Institute of Arbitrators, and a member of various lists/panels of arbitrators.View