Mediation: an alternative dispute resolution method that boards should adopt
It is not on the radar of many company executives, but it is often a more cost-effective and productive way to resolve legal disputes
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
LEGAL costs for companies and their boards are on the rise.
The 2015 SID-SGX Board of Directors' Survey found that 80 per cent of boards polled had sought external legal advice compared to just 38 per cent two years previously. It also found that boards place the most reliance on external legal advice compared to other forms of professional advice.
As business becomes more complex and companies expand ever outwards beyond Singapore, this high reliance on legal advisers is expected to continue, particularly as an increasing proportion of legal costs is spent on resolving disputes.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
