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In Hong Kong

Hong Kong arbitration as an ideal mechanism for resolving crypto-disputes

by 20 Mins Read

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…

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In Hong Kong

Hong Kong court applies principles for classifying an order as either an award or interim order in the context of interim measures

by and 12 Mins Read

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…

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In Hong Kong

Hong Kong Court of Appeal confirms that absent countervailing factors, insolvency petitions should be stayed or dismissed where a disputed debt or crossclaim exceeding the debt is subject to an arbitration agreement

by and 13 Mins Read

In recent years, the Hong Kong courts repeatedly considered the approach the court should adopt in proceedings where a creditor petitions to wind up a debtor and the parties have agreed to refer disputes over or related to the petition debt to arbitration. Should the court stay or dismiss the petition pending arbitration of the dispute where the debtor disputes the debt, or raises a set-off defence, a counterclaim or crossclaim, which if successful would…

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In International Arbitration Yearbook

Baker McKenzie International Arbitration Yearbook 2023-2024 – Hong Kong

by and 21 Mins Read

A. LEGISLATION AND RULES A.1 Legislation A.1.1 Hong Kong adopts restrictive state immunity doctrine State immunity is a fundamental rule of customary international law, which originates in the historical notion that a sovereign cannot be sued in the courts of its own country or of a foreign country. By the State Immunity (Overseas Territories) Order 1979, the United Kingdom extended the ambit of its State Immunity Act 1978 to Hong Kong, which adopted a restrictive…

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