JD Supra (JD Supra Hong Kong)

No loss to issuers puts note trustees in the spotlight. The Hong Kong Court of Final Appeal (CFA) has overturned the Court of Appeal’s order that Peking University Founder Group Company Limited (PUFG), as the keepwell provider, breached the terms of the keepwell deeds and was liable to three of its offshore subsidiaries that were the issuers and a guarantor of the keepwell bonds (together,...

The statistics show a robust demand for arbitration and reflect Hong Kong’s importance as an arbitral venue for resolving cross-border commercial disputes. On 20 February 2025, the Hong Kong International Arbitration Centre (HKIAC) released its annual statistics for 2024. The newly published statistics demonstrate an increasing use of the HKIAC as an arbitration centre. This growth reinforces

Since establishment of the office in 1982, Hong Kong has acted as the hub around which Hogan Lovells’ regional growth and network expansion have been organised. We are also the sole Hong Kong member of the Pacific Rim Advisory Council (PRAC), a unique strategic alliance within the global legal community, consisting of over 20 major independent law firms, each with a substantial presence and...

In January 2025 in Beijing, a delegation of INSOL members led by Andrew Koo (INSOL Fellow) and John Lees (INSOL Past President) together with Hong Kong barrister Michael Lok, Alexander Tang (INSOL Fellow), and Howard Lam (INSOL Fellow), participated in a roundtable on crossborder insolvency topics with a team of prominent PRC bankruptcy experts led by Professor Li Shuguang, China University of...

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....

The updates include market consultation, consultation conclusions and various guiding materials by the HKEX, and bills for amendments to the Companies Ordinance by the Hong Kong government.

The Stock Exchange concluded to adopt the proposed amendments to the CG Code, with certain modifications based on market feedback.

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...

The updates include a consultation paper on a new phase of paper listing and a joint announcement on temporary modifications to requirements for specialist technology companies and de-SPAC transactions.

Arbitration is a popular mode of alternative dispute resolution in Hong Kong, used increasingly in cross-border commercial disputes and among international parties. In 2023, the Hong Kong International Arbitration Centre (HKIAC) recorded 281 new arbitration cases with a total amount of HKD92.8 billion (approximately USD12.5 billion) in dispute. Hong Kong was ranked as the third most popular...

The updates in May and June include a consultation conclusion and a consultation paper from the Stock Exchange. The key updates in May and June 2024 include the publication of the consultation conclusions on the Severe Weather Trading of Hong Kong Securities and Derivatives Markets and also a consultation paper on the Review of Corporate Governance Code and Related Listing Rules. The...

The 2024 Rules significantly improve Hong Kong’s arbitration framework, aiming to increase the efficiency of proceedings and clarify the tribunal’s powers. The Hong Kong International Arbitration Centre’s (HKIAC’s) newly released 2024 Administered Arbitration Rules (2024 Rules) came into effect on 1 June 2024.

With deep and liquid capital markets offering unique access to the Mainland China investor market, many international businesses are considering pursuing their IPOs in Hong Kong. This summary outlines key issues for companies preparing to pursue an IPO in Hong Kong, with a particular focus on those features that are distinctive from the requirements in other IPO markets, and includes an...

The updates include two consultation conclusions from the Stock Exchange of Hong Kong Limited and notice from the Companies Registry. The key updates in March and April 2024 include the publication of the consultation conclusions on enhancement of climate-related disclosures and also the consultation conclusions on treasury shares, which resulted in amendment to the Listing Rules and...

A recent ruling by the Hong Kong Court of Appeal has strengthened the robustness of keepwell deeds as enforceable English law governed obligations. The Hong Kong Court of Appeal has unanimously upheld the appeals of the liquidators of offshore bond-issuance companies (the appellants) of the Peking University Founder Group Company Limited (PUFG) concerning whether PUFG, as the keepwell...

The amendments, which will become effective from 1 January 2025, aim to reflect the ISSB Climate Standards to the maximum extent possible. In April 2024, the Stock Exchange of Hong Kong Limited (the Exchange) released the consultation conclusions (the Consultation Conclusions) to its earlier Consultation Paper on Enhancement of Climate-related Disclosures under the Environmental, Social, and...

This resolution is important for contractors’ rights to retention monies in construction contracts. The Hong Kong Court of First Instance (CFI) held in a recent judgment that, whilst the absence of segregation is not necessarily fatal to a trust, a valid trust cannot be formed due to lack of certainty of subject matter unless the money in question is part of a “sufficiently identifiable bulk”.

The updates include a report from the Stock Exchange of Hong Kong Limited on review of issuers’ annual reports, a summary of private reprimands, and disciplinary actions.

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...

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;...

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

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

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 - 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....

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.

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.

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...

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

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

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...