Effective 16 December 2022, lawyers in Hong Kong are permitted to fund clients for whom they act in an arbitration by entering into outcome-related fee structures (ORFS), such as conditional and contingency fee arrangements. The new regime answers an increasing client demand for more flexible fee arrangements and is an important step for maintaining and promoting Hong Kong’s competitiveness with other major arbitral seats where similar fee arrangements are allowed. The new regime The new…
A. LEGISLATION AND RULES A.1 Legislation A.1.1 Hong Kong expands financing options for arbitration parties Third-party funding is…
The case of T v W[1] reinforces the important principle that bills of exchange have a legal life…
A. LEGISLATION AND RULES A.1 Legislation A.1.1 Further amendments to the mutual enforcement arrangement between Hong Kong and the Mainland become effective Enforcement of awards between Hong Kong and Mainland China is governed by the “Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and the HKSAR” which has been in effect since 1 February 2000. The Arrangement follows the spirit of the New York Convention and has been providing an effective enforcement mechanism.…
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…
We are happy to present to you Arbitration in Asia, an arbitration handbook for Russian in-house counsels. The publication, a collaboration with KIAP, Attorneys at Law, is written in the Russian language and discusses cultural specifics of arbitration in several Asian jurisdictions, including Cambodia, China, Hong Kong, India, Korea, Singapore, Thailand, Vietnam and the Philippines. It was launched via a webinar on 12 March 2021. The webinar can be viewed here.
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…
Introduction Under Hong Kong law, a company shall be deemed to be unable to pay its debts if a creditor, to whom the company is indebted of at least HKD 10,000 (around USD 1,290), has served on the company a demand requiring the company to pay and the company has not done so within three weeks. A creditor may then petition to wind-up the debtor.[1] Other common law jurisdictions have very similar concepts.[2] Where the…