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.
Third Party Funding In Hong Kong: Potential Impact On The Construction Industry
