Burford Capital Burford Opens in Singapore & Appoints Quentin Pak
03 October 2017 - 7:00PM
RNS Non-Regulatory
TIDMBUR
Burford Capital
03 October 2017
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."
END
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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