Litigation funding firm Burford Capital has opened a new Asian office in Singapore with the hire of a former Allen & Overy lawyer.
Director Quentin Pak will join the firm on Oct. 30 from the Commonwealth Bank of Australia where he was an executive director leading the commodities businesses in Asia. Based in Singapore, Pak will help expand the Burford’s presence in Asia and Australia.
Before joining the Commonwealth Bank of Australia in 2013, Pak worked on commodities trading at Barclays Investment Bank and Goldman Sachs. He practiced as a capital markets lawyer with Allen & Overy in London and Singapore between 1997 and 2004.
In July, Burford hired former Herbert Smith Freehills arbitration associate James MacKinnon as a Hong Kong-based vice president, weeks following the June passage of new legislation that allowed third-party funding in arbitration and mediation in the city. MacKinnon, who trained and qualified with White & Case in 2011, also practiced with DLA Piper before moving to Herbert Smith Freehills in 2013.
Singapore passed a similar legislation in January 2017 to permit third-party funding for international commercial arbitration and related proceedings in the city-state. In July, Burford announced that it was funding a party involved in the first ever Singapore-seated arbitration case financed by a third-party. The party is represented by Norton Rose Fulbright while other details of the case weren’t disclosed.
In August, Burford managing director Travis Lenkner told law.com that the firm has invested nearly $500 million in litigation funding during the first half of 2017.