Last checked at 3 Oct 2017 09:00
BURFORD CAPITAL OPENS IN SINGAPORE
AND APPOINTS QUENTIN PAK AS DIRECTOR
October 3, 2017 - Burford Capital ("Burford"), a leading global finance firm focused on law, today announces that it is expanding its business in Asia-Pacific with additional investment in Singapore and the appointment of Quentin Pak as Director to lead operations there. The development further cements Burford's status as a leader in the emerging Asian market for commercial litigation and arbitration finance. It also provides Burford with a platform from which to continue to expand its presence in the region.
Burford's continued focus in Singapore follows increased demand for legal capital in the wake of January 2017 amendments to Singapore law permitting arbitration finance. In June 2017, Burford announced that it had financed its first Singaporean arbitration matter which, to Burford's knowledge, is the first Singapore-seated arbitration funded by a third-party finance provider.
Mr. Pak, who joins Burford effective October 30, will run Burford's office in Singapore and be responsible for expanding Burford's presence in Asia and Australia. He joins Burford with 20 years of experience in finance and law, most recently as Head of Commodities (Asia) at Commonwealth Bank of Australia in Singapore. His previous experience includes senior positions at major global financial institutions including Barclays, Goldman Sachs and Deutsche Bank. Before entering the finance world, Mr. Pak practiced law for a number of years with Allen & Overy in both London and Singapore.
Christopher Bogart, Burford's CEO, commented:
"Burford sees significant potential in the Asia-Pacific market following the passage this year of new laws in the region, including Singapore, that support our business. With the addition of a Singapore office and with Quentin's on-the-ground leadership and vision, we're enthusiastic about meeting the increased demand for third-party capital with smart and cost-effective solutions."
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Contact:
Asia-Pacific and EMEA: Neil McLeod, PHA Media, +44 20 7440 0811, neilm@pha-media.com
N. America: Emma Murphy, The Neibart Group, +1 (718) 875-4545, emurphy@neibartgroup.com
About Litigation Finance in Singapore and Hong Kong
In October 2016, the Hong Kong Law Reform Commission issued a lengthy report in October 2016 that called for the expansion of the use of litigation finance in Hong Kong. The Commission noted that 97% of the many submissions it received on the issue - from essentially every kind of stakeholder in the dispute resolution process - were in favour. Stakeholders commented that it is "Pointless to try to hold back the tide" and that "We believe such a positive clarification … may well enhance Hong Kong's status as a premium center for legal and dispute resolution services". In step with Hong Kong, in November 2016, the Singapore Parliament introduced legislation (now enacted) that would permit litigation finance in arbitration and laid the groundwork for further expansions.
About Burford Capital
Burford Capital is a leading global finance and investment management firm focused on law. Its businesses include litigation finance and risk management, asset recovery, and a wide range of legal finance and advisory activities. Burford is publicly traded on the London Stock Exchange, and it works with law firms and clients around the world from its principal offices in New York, London and Chicago. For more information about Burford: www.burfordcapital.com