JD Supra (JD Supra Hong Kong)

692 results for JD Supra (JD Supra Hong Kong)

  • Case Update: Hong Kong Arbitral Tribunal’s Jurisdiction to Determine Disputes in Related Contracts

    An arbitral tribunal lacks jurisdiction to determine claims raised under related agreements containing different dispute resolution clauses. The Hong Kong Court of First Instance (Court) held in a recent judgment that an arbitral tribunal (Tribunal) constituted pursuant to an arbitration clause under one agreement has no jurisdiction to decide on matters in other related contracts which...

  • Arbitration Highlights in the Year of the Dragon

    In the year of the dragon, attention turns to the enforcement of arbitral awards. We look at five different Hong Kong decisions where enforcement or set aside has been the central issue often involving arguments of public policy. The precise status of a “re-arbitration” was considered in one; in another, a fast moving change in the law prompted the remission of an award back to the arbitrator;...

  • Guide to Discrimination Law in Hong Kong

    Introduction - GENERAL OVERVIEW - Hong Kong employers and employees have become increasingly aware of their rights and obligations under the anti-discrimination legislation since the passing of the Sex Discrimination Ordinance (SDO) and Disability Discrimination Ordinance (DDO) in 1995, the Family Status Discrimination Ordinance (FSDO) in 1997 and the Race Discrimination Ordinance (RDO) in 2

  • Guide to Employment Law in Hong Kong

    Overview - The primary piece of legislation, the Employment Ordinance (the “EO”), prescribes certain basic rights and protection for most employees. The EO applies to every employee engaged under a contract of employment in Hong Kong with only a few minor exceptions. The EO applies equally to locals and foreign nationals working in Hong Kong. Provided that the contractual terms of service are

  • Key Regulatory Updates for Hong Kong Listed Companies - November/December 2023

    The updates include a Consultation Paper, new and revised guidance materials from the Stock Exchange of Hong Kong Limited, and notices from the Companies Registry. The key updates in November and December 2023 include the launch of the Fast Interface for New Issuance (FINI) platform, the publication of the Guide for New Listing Applicants, and the Global Exchange Market (GEM) listing reforms...

  • Establishing a Business Entity in Hong Kong

    ESTABLISHING A BUSINESS ENTITY IN HONG KONG - 1. Introduction - Hong Kong as an international centre for finance, commerce and trade is often considered as one of the most attractive places to do business owing to its unique advantages such as its prime location, business-friendly policies, simple tax regime, world-class infrastructure, sound legal system and robust regulatory regimes....

  • Charting the Path: Major Developments in Hong Kong Arbitration Law in 2023

    In this review, we reflect on significant developments in the field of arbitration in Hong Kong over the past year. Key developments in 2023 included: 1. Multi-tiered dispute resolution clause – compliance with pre-arbitration conditions is generally a matter of admissibility to be ultimately determined by the tribunal and not subject to court review.

  • Understanding the Trends: A Review of Insolvency Litigation in Hong Kong in 2023

    Insolvency litigation witnessed intriguing developments across multiple aspects in Hong Kong in 2023, ranging from the court’s updated Practice Direction on Bankruptcy and Winding-Up Proceedings to on-going debate surrounding the interplay between insolvency proceedings and arbitration clauses.

  • Buying and Selling Real Estate in Hong Kong (Updated)

    KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HONG KONG LAW - Introduction - Hong Kong is one of the most densely populated cities over the world. Due to historical reasons, almost all lands in Hong Kong are leasehold tenures. Over the centuries, the Government leased or granted to individuals or corporations pieces of land for use or for development. Therefore, a sale and purchase of landed...

  • Unravelling the Legal Landscape: Key Highlights of Company Litigation Developments in Hong Kong in 2023

    Here we present a concise summary of significant cases and developments in company litigation in Hong Kong in 2023. Highlights include: 1. Subject company's participation in unfair prejudice proceedings: The Court once again confirmed its “distaste” for a subject company seeking to enter the arena in unfair prejudice proceedings between shareholders. 2. New Practice Direction 3.4: The

  • Key Regulatory Updates for Hong Kong Listed Companies

    The Stock Exchange of Hong Kong, the SFC, and the Companies Registry have published key regulatory updates during September and October 2023.

  • Synopsis Of Hong Kong Stock Exchange’s New Guide For New Listing Applicants

    In an effort to enable new listing applicants and their advisers to systematically and conveniently navigate all new listing-related guidance, The Stock Exchange of Hong Kong Limited (the “HKEX”) published the Guide for New Listing Applicants (the “Guide”) on November 29, 2023. A few things to note with respect to the Guide...

  • Hong Kong Issues Guidance on Automatic Share Buyback Programs

    The SEHK guidance sets out the framework for its assessment in considering a waiver application of the increasingly popular automatic share buyback program. The Stock Exchange of Hong Kong Limited (the SEHK) has issued a guidance letter on automatic share buyback programs conducted on behalf of listed issuers (GL117-23) (the Guidance Letter). The Guidance Letter provides the framework for...

  • Hong Kong and BVI Courts Differ on Whether Noteholders Have Standing to Petition for Winding-Up

    The Hong Kong Court confirmed that noteholders with beneficial interest in global notes do not have standing to present winding-up petitions against issuers. Meanwhile, the BVI Court reached the opposite conclusion in a separate case. In the recent case of Re Leading Holdings Group Limited [2023] HKCFI 1770, the Hong Kong Court of First Instance (Court) decided, for the first time, on the...

  • Hong Kong Court Confirms Enforceability of Keepwell Deeds

    Two recent landmark decisions provide valuable guidance on this commonly used form of credit enhancement. Keepwell deeds have in recent years grown into a common form of credit enhancement used by companies in mainland China for offshore bonds issued by their subsidiaries. Under a typical keepwell deed, a parent company in mainland China undertakes to ensure that its offshore issuer...

  • Hong Kong Court Orders Winding-Up of Company Despite Parties’ Arbitration Agreement

    A recent ruling shows that an arbitration agreement alone is not necessarily a complete defence to a Hong Kong winding-up petition. The Hong Kong Companies Court recently issued a winding-up order against a debtor company, despite the presence of arbitration clauses in the agreements giving rise to the debt. In Re Simplicity & Vogue Retailing (HK) Co., Limited [2023] HKCFI 1443, Linda Chan J...

  • New Era Dawns for Hong Kong’s Virtual Assets Sector

    The regulatory perimeter continues to expand as the Securities and Futures Commission introduces a comprehensive regime to regulate virtual asset service providers. This Client Alert reviews key obligations and requirements which the new regime will impose on virtual asset trading platforms (VATPs). The Client Alert also discusses next steps for those considering to apply for a licence and...

  • Hong Kong Court of Final Appeal Rules on Exclusive Jurisdiction Clauses in Insolvency

    A bankruptcy petition should not proceed if the debt is disputed and subject to an exclusive jurisdiction clause in favour of a foreign court. The Hong Kong Court of Final Appeal (CFA) has ruled that if a bankruptcy petition is disputed and the disputed debt arises from an agreement containing an exclusive jurisdiction clause (EJC) in favour of a foreign court, the dispute should be resolved...

  • Bankruptcy Petition vs Exclusive Jurisdiction Clause

    Who has the last word? The effect of an exclusive jurisdiction clause on insolvency proceedings - On 4 May 2023, the Court of Final Appeal (CFA) handed down its much-awaited judgment in Re Guy Kwok Hung Lam [2023] HKCFA 9. This decision is significant. It clarifies the proper approach in deciding whether to dismiss or stay a creditor’s bankruptcy petition before Hong Kong courts, where the...

  • Hong Kong Court Confirms the Proprietary Nature of Cryptocurrencies but Denies Clients’ Proprietary Claims

    This is the first decision by the Hong Kong Court on whether clients of a crypto exchange have proprietary claims to cryptocurrencies held on the platform. It confirms that cryptocurrency constitutes property under Hong Kong law. Key Points: • Cryptocurrency constitutes property under Hong Kong law and can therefore form the subject matter of a trust. • Whether cryptocurrencies stored

  • Report on Hong Kong-Listed Biotech Companies - April 2023

    点击此处阅读调查报告全文 Our third annual report on Hong Kong-listed biotech companies examines how the sector performed during the challenging conditions for capital markets globally over the past 12 months. Although aggregate listing and subsequent fundraising activity for biotech firms in Hong Kong decreased over the past year, Hong Kong continues to serve a thriving biotech ecosystem and is well...

  • Hong Kong Corporate & Regulatory Insights – April 2023

    The Stock Exchange of Hong Kong Limited (SEHK) announced new chapter on Listing Rules The SEHK announced on 24 March 2023 the expansion of Hong Kong's listing framework for the listings of Specialist Technology Companies where a new chapter will be added to the Main Board Listing Rules (Listing Rules) starting from 31 March 2023. Following a two-month consultation period, the SEHK...

  • Hong Kong Court Sets Aside Arbitral Awards Under Exceptional Circumstances

    Two recent decisions illustrate what constitutes exceptional circumstances justifying the rare intervention of Hong Kong courts in arbitration matters. Hong Kong is internationally renowned as a pro-arbitration jurisdiction where the courts’ approach is to permit enforcement of arbitral awards save in exceptional circumstances. Two recent decisions of the Hong Kong Court of First Instance,...

  • Launch of HKSE’s New Listing Regime for Specialist Technology Companies

    From 31 March 2023, the listing framework will include innovative companies in frontier industries, creating more opportunities for investors in the Hong Kong capital market. The Stock Exchange of Hong Kong Limited (the SEHK) has issued the consultation conclusions on the listing regime for Specialist Technology Companies (the Consultation Conclusions), which will include a new Chapter 18C...

  • Regulatory Roadmap for a Bold and Adventurous Year of the Rabbit

    In this Year of the Rabbit, we believe that financial institutions will need to be vigilant, quick-minded, and ingenious – all characteristics long associated with people born in the Year of the Rabbit. Following on from some of the regulatory challenges that emerged in the Year of the Tiger, we think that the Year of the Rabbit will be one that calls for a bold and adventurous spirit, tempered...

  • Hong Kong Proposes Amendments to Listing Rules Following Mainland China Regulation Updates

    The proposed amendments reflect changes in PRC regulations recently announced by the State Council and the CSRC. On 24 February 2023, The Stock Exchange of Hong Kong Limited (the Stock Exchange) published a Consultation Paper on Amendments to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the Listing Rules) Following Mainland China Regulation Updates

  • Hong Kong Corporate & Regulatory Insights – February 2023

    The Stock Exchange of Hong Kong Limited (SEHK) publishes Listed Issuer Regulation Newsletter - The SEHK published the Listed Issuer Regulation Newsletter (December 2022 edition) (Newsletter), to provide latest regulatory updates and inform issuers on compliance matters. Firstly, Chapter 17 of the Listing Rules was amended to govern both share option schemes and share award schemes of...

  • Arbitration Highlights in the Year of the Rabbit

    As the world welcomes in the Year of the Rabbit, we look back at seven decisions that made an impact over the past year. In the decisions, the Hong Kong courts considered the circumstances in which interim relief should be granted, the boundaries of the “one stop shop” adjudication approach in the context of construction cases and the importance of witness evidence when deciding whether an...

  • Buying and Selling Real Estate in Hong Kong (Updated)

    KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HONG KONG LAW - Introduction - Hong Kong is one of the most densely populated cities over the world. Due to historical reasons, almost all lands in Hong Kong are leasehold tenures. Over the centuries, the Government leased or granted to individuals or corporations pieces of land for use or for development. Therefore, a sale and purchase of...

  • New Law to Expand Reciprocal Recognition and Enforcement of Civil Judgments Between Mainland and Hong Kong

    The new law is expected to overcome jurisdictional barriers and better promote business interactions in Mainland China and Hong Kong. Key Points: ..Hong Kong recently passed a new law to enact a January 2019 arrangement (2019 Arrangement) to expand the scope of reciprocal recognition and enforcement of judgements between Mainland China and Hong Kong. ..Once the 2019 Arrangement...

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