Tungsten Capital forms claims funding alliance with leading South East Asia consultancy
Tungsten Capital is pleased to announce an alliance with BKAsiaPacific, bringing a unique claims funding initiative to clients in South East Asia that will support contractors and subcontractors to fight valid claims with the best support, on a true no win, no fee basis.
Earlier this year, Tungsten Capital embarked on select alliances with leading claims specialists around the world in order to make its unique claims funding model available in different geographical locations through regional experts.
Litigation funding has increasingly become a widely accepted mode of practice in construction claims. As is well known, the earlier and usually more palatable option of resolution through mutual agreement or mediation after careful and reasonable analysis of the claim often involves no small expenditure from both sides. When owed/denied significant sums in claims, construction companies and subcontractors may struggle even more to access funding to fight their claims. That’s a difficult burden to overcome apart from significant amount of time and due diligence required to prepare and present a claim well, with a view to successful outcomes rather than the more costly and damaging escalation to litigation and arbitration.
However, since 2018, through its financing fund, Quantura, Tungsten Capital has been providing construction companies and subcontractors with a unique method of funding and developing commercially viable construction and engineering entitlement claims. Since the beginning of 2020, we have expanded this service to make it available in different global territories through other carefully selected construction industry consultants with in-depth regional market knowledge.
BKAsiaPacific (BK) is one of the most highly regarded claims experts, commercial and contract management and quantity surveying organisations in the Pacific Rim. Dating back to 1983, when John Battersby, the current Group Managing Director of BK, arrived in Hong Kong, it incorporated its operating company in the Philippines in 1997, and today includes offices in Hong Kong, Thailand, Vietnam, Malaysia, Singapore, Shanghai, Macau and Cambodia.
Dedicated to maximising benefits for its clients from the contracts they enter into, whilst minimising their downside risks, cost-effectively, professionally and commercially, BK’s values are closely aligned with those of Tungsten Capital; seeking to protect the interests of clients. The synergy between the organisations makes them ideal and highly valued alliance partners in bringing this much needed service to the construction industry, levelling the playing field and helping to redress the risk imbalance that has perpetuated for contractors in recent years.
“We have always admired and respected the work and team of BKAsiaPacific within the construction industry, and it is an enormous joy to us all at Tungsten Capital, and to me personally, to have the opportunity to work alongside them in such a positive way. Their knowledge of the market in South East Asia is second to none, and their understanding of Quantura and the value that it brings to clients is precisely why we believe them to be the perfect allies to offer the service in this part of the world.”Tungsten Capital CEO, Peter Elliot
It is a pleasure to ally with Peter and Tungsten Capital in this exciting new opportunity that will allow much needed financial help for many subcontractors and contractors alike that are currently unable to advance their claims. With Peter and his team collaborating with us, we are convinced that this funding alliance will be a great success.BKAsiaPacific, Group Managing Director John Battersby