Introduction In recent years, the world has witnessed an explosive growth in the popularity and value of virtual assets. This “digital gold rush” has been largely driven by the rise of cryptocurrencies and non-fungible tokens (NFTs). The unique nature of these digital assets, authenticated by blockchain technology, has attracted significant investment, transforming the way value and ownership is perceived. The terms virtual assets (VAs) and crypto-assets are often used interchangeably to describe digital assets that…
The Court of First Instance (CFI) already considered twice this year in the context of interim measures whether…
The Hong Kong courts consistently adopt a robust and purely mechanistic approach to applications resisting enforcement of awards,…
Whether an arbitral tribunal’s decision constitutes an “award” is an important question. It determines, for example, whether the decision is subject to review by the supervisory court, the available recourse against it, and its enforceability. As there is no universally accepted definition of “award”, its meaning depends on the jurisdiction in question. The Court of First Instance considered in two recent cases whether the arbitrator’s decision amounted to an award: Both cases concerned interim measures…
A unanimous award (worth around USD 960 million) issued in favor of a construction consortium by a three-member…
Multi-party and multi-contract scenarios are commonplace in international arbitration. Many arbitration rules offer regimes seeking to tackle problems…
On 1 June 2024, the 2024 Administered Arbitration Rules of the Hong Kong International Arbitration Centre will come into effect. The 2024 Rules can be accessed here. The 2024 Rules maintain HKIAC’s “light touch” approach to case administration, which respects party autonomy and has been a fundamental feature of HKIAC administered arbitrations. This means that parties who have adopted arbitration under the HKIAC Administered Arbitration Rules in force when the arbitration commences can rest assured…
In recent years, the Hong Kong courts repeatedly considered the approach the court should adopt in proceedings where…
Recently in CNG v G and Another [2024] HKCFI 575,[1] The Honourable Madam Justice Mimmie Chan of the…
Welcome to the 17th edition of the Baker McKenzie International Arbitration Yearbook. We are pleased to bring you our analysis of notable developments in international arbitration over the past year from over 40 jurisdictions worldwide. As with the editions before it, the 2023-2024 Yearbook covers important legislative and case law updates from each jurisdiction. This includes: You can access the latest edition of the International Arbitration Yearbook here or by hovering your cursor over the “International Arbitration…