The case of T v W[1] reinforces the important principle that bills of exchange have a legal life of their own, separate from the underlying contract. They usually do not fall within the scope of an arbitration clause in the underlying contract unless there is a clear and express indication that they do. Factual background Under a Loan Agreement, P agreed to lend D HKD 5 million. P advanced the money and D drew a…
A. LEGISLATION AND RULES A.1 Legislation A.1.1 Further amendments to the mutual enforcement arrangement between Hong Kong and…
In the recent case of W v AW,[1] W sought to set aside an award in the Hong…
Since 1 February 2000, enforcement of arbitral awards between the Mainland and Hong Kong has been governed by a separate Arrangement, which has successfully provided an effective mechanism of enforcing awards between these two jurisdictions. On 27 November 2020, a Supplemental Arrangement was signed, amending four aspects of the original Arrangement to bring it further in line with current practice in international arbitration. Some amendments became effective immediately, while others will become effective on 19…
We are happy to present to you Arbitration in Asia, an arbitration handbook for Russian in-house counsels, co-authored…
HONG KONG Philipp Hanusch and James Ng A. LEGISLATION AND RULES A.1 Legislation A.1.1 Amendments to the mutual…
1. Introduction[1] Once an arbitral award is issued, it becomes final and binding. However, the award may contain an error. For example, it may order payment of an incorrect sum or it may have entirely omitted a specific relief sought by a party. Unless the applicable law provides for corrective measures and a party undertakes them in a timely manner, the parties will be bound by the award, even if it contains such errors. Under…
Introduction Under Hong Kong law, a company shall be deemed to be unable to pay its debts if…
Introduction The only recourse for a party seeking to challenge a Hong Kong award is to apply to…
Parties to commercial litigation in the Hong Kong Court of First Instance (CFI) have been facing prolonged waiting times for their trials. The situation was exacerbated as a consequence of the “General Adjournment Period” (GAP) from 29 January to 3 May 2020, during which the CFI was closed for ordinary court business due to COVID-19. The GAP and a continuing impact of COVID-19 may mean increased trial waiting times as courts try to clear their…