Today, certain provisions of the Insolvency Law Reform Act 2016 will take effect. Amongst these is s100-5 of the new Insolvency Practice Schedule (Corporations), which will be included as a schedule to the Corporations Act 2001. The same provision (with identical numbering) is contained in the Insolvency Practice Schedule (Bankruptcy), which is a schedule to the Bankruptcy Act 1966.

In the race between Singapore and Hong Kong to become the leading dispute resolution centre in Asia, Singapore may be taking the lead.

Singapore is forging ahead with plans to approve third party funding of disputes.

Draft legislation aimed at permitting third party funding of international arbitration (including related litigation and mediation), enforcement proceedings and proceedings to stay was published by Singapore’s Ministry of Law on 30 June 2016.

A milestone year