Sydney-based litigation funder IMF Bentham Ltd. has hired former K&L Gates disputes associate Arvindran Manoosegaran as an associate investment manager in Singapore.
At Bentham, Manoosegaran will be assessing and managing funded cases, including arbitration, litigation and insolvency claims. Before joining K&L Gates in 2015, he practiced at Singaporean firm Drew & Napier as an arbitration lawyer for six years.
IMF Bentham has two other investment managers based in Asia: Hong Kong-based associate investment manager Cheng Yee Khong joined in January 2018 from the International Chamber of Commerce International Court of Arbitration, where she was a Hong Kong-based director and counsel overseeing the institution’s expansion in Asia; and Singapore-based chief investment officer of Asia Tom Glasgow joined last year from Allen & Overy, where he was a Hong Kong-based international arbitration associate.
IMF Bentham, as well as other litigation funders—including New York-based Burford Capital and London-based Woodsford Litigation Funding Ltd.—all opened offices in Singapore in 2017 when the city-state legalized third-party arbitration funding.
Hong Kong, Asia’s other dispute resolution center, also passed a similar third-party litigation funding law. But the Hong Kong legislation still has not taken effect more than a year after its passage.
No official date has been set for the law to come into effect, according to Kim Rooney, a Hong Kong-based international arbitrator and barrister, who led the efforts that pushed for the legislative change in the city over the past few years. She said lawyers and stakeholders alike hope the law will be effective by the end of this year.
A report released jointly by the School of International Arbitration at Queen Mary University of London and U.S. firm White & Case in May found that Singapore is a more popular international arbitration seat than Hong Kong and the third most preferred arbitration seat globally, after London and Paris.
In July, IMF Bentham’s U.S. arm formed a $30 million disputes fund with New York-based litigation boutique Kobre & Kim to finance high-stake cases involving Israeli tech startups.