IMF Bentham is expanding in Asia and has recruited Tom Glasgow. Prior to this new appointment, Tom was a senior litigator at Allen & Overy. Tom will now be heading up Bentham’s new office in Singapore.
We covered the news earlier in the year that Singapore had introduced new legislation permitting third-party funding in international arbitration. Asia could potentially yield more work. Hong Kong currently allows for funding of cases involving insolvency or ‘access to justice.’ More formal legislation is being discussed currently which would make this a clearer market to provide TPF services for.
IMF Bentham is also seeing increasing demand for its capital from law firms and clients across Asia.
Clive Bowman, chief executive for Australia and Asia, said that Tom Glasgow brings experience as a commercial disputes lawyer in the region, but also has a wealth of contacts across various jurisdictions in Asia.
“Hong Kong and Singapore were actively embracing third-party funding in areas such as arbitration to increase their competitiveness as leading centres for international dispute resolution,” Glasgow said. “There is potential for long-term growth in these markets, and I am really excited by the opportunity to unlock that potential with a funder of IMF’s size and experience.”
IMF Bentham has already funded three cases in Asia according to Andrew Saker the CEO of IMF Bentham.
IMF Bentham Pte Ltd will be a wholly owned subsidiary of the IMF group, incorporated in Singapore. It will initially focus on funding arbitration and insolvency claims in Hong Kong and Singapore.