Morrison & Foerster LLP (JD Supra Hong Kong)

40 results for Morrison & Foerster LLP (JD Supra Hong Kong)

  • Latest HKIAC Statistics Reveal That Arbitration Continues To Thrive In Hong Kong Despite COVID-19

    On February 9, 2021, the Hong Kong International Arbitration Centre (“HKIAC”) released its annual case statistics for 2020. This highly anticipated report provides insight into how arbitration in Hong Kong has fared in the face of the unprecedented challenges of COVID-19 over the past year...

  • MoFo 2020 Asia Buyouts Report: Update On Deal Terms – II. Fair Disclosure

    We looked at 28 deals across Asia signed or closed pre-COVID-19 in which the buyer or a group of affiliated buyers acquired all or a significant majority of the outstanding equity of the target. We examined the common key terms in these deals and have sought to provide our insights on the patterns that the results reveal...

  • MoFo 2020 Asia Buyouts Report: Update On Deal Terms – Part 1: Pricing The Deal

    We looked at 28 deals across Asia signed or closed pre-COVID-19 in which the buyer or a group of affiliated buyers acquired all or a significant majority of the outstanding equity of the target. We examined the common key terms in these deals and have sought to provide our insights on the patterns that the results reveal...

  • MoFo APAC Arbitration Update: September 2020

    SINGAPORE ANNOUNCES AMENDMENTS TO ITS INTERNATIONAL ARBITRATION ACT On September 1, 2020, Singapore’s Ministry of Law announced that it is tabling the International Arbitration (Amendment) Bill (the “Bill”) to introduce changes to Singapore’s International Arbitration Act (the “IAA”)...

  • Precautions-The "Private" Issue In Privatization Transactions

    A previous article by our firm has sorted out and summarized privatization transactions. As a companion article, this article will discuss a very important but easily overlooked issue in privatization transactions. The privatization transactions of listed companies usually involve multiple major shareholders or external investors, and the company’s senior management members sometimes participate...

  • Hong Kong In The Crosshairs: Secretary Of State Submits Hong Kong Autonomy Act Report To Congress, Paving Path For Secondary Sanctions

    On Wednesday, October 14, 2020, the U.S. Department of State (“State”) submitted a report to the U.S. Congress, as required under section 5(a) of the Hong Kong Autonomy Act (“HKAA”), identifying foreign persons materially contributing to the failure of the Government of China to meet its obligations under the Joint Declaration or the Basic Law concerning Hong Kong’s relative independence. The...

  • International Arbitration Update: Widening Circuit Split, Seventh Circuit Joins Second And Fifth Circuits In Refusing To Allow Discovery In Aid Of Private Commercial Arbitration Seated Outside The United States

    A recent decision by the U.S. Court of Appeals for the Seventh Circuit widens an existing circuit court split regarding whether parties may seek discovery in the United States for use in commercial arbitration proceedings seated outside the United States. Under 28 U.S.C. § 1782 (“Section 1782”), a petitioner may obtain evidence through U.S. federal district courts for use in a proceeding before a

  • Marketing Private Funds To U.S. Investors — A Practical Guide For Asia-Based Managers

    As the private equity (“PE”) and venture capital (“VC”) funds industry grows and matures in Asia, managers are increasingly looking to market interests in their funds to U.S.-based investors. However, many Asia-based managers we speak with are wary of marketing to U.S. investors because they are concerned about the compliance costs and complexities raised by the U.S. securities and tax rules. In...

  • Chinese Anti-Monopoly Regulator Unconditionally Approves First Merger Control Filing Involving Variable Interest Entity (“VIE”) Structures

    On July 22, 2020, China’s State Administration for Market Regulation (“SAMR”) published its unconditional approval of the concentration of operators in the Shanghai Mingcha Zhegang Management Consulting Co., Ltd. and Huansheng Information Technology (Shanghai) Co., Ltd. Newly Established Joint Venture Case (the “SMZ Case”). This is a major regulatory development in China in relation to the...

  • Hong Kong National Security Law Promulgated, Came Into Effect June 30, 2020

    As widely reported, the Standing Committee of the National People’s Congress (the “NPC”) completed its deliberation of and formally promulgated the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (the “HKNSL” or the “Law”) on June 30, 2020, and the Law was gazetted for promulgation in Hong Kong and took effect at 11 pm the...

  • Data Center Investments In China: Cloud 9 For Foreign Investors?

    Internet data center (“IDC”) projects in China have attracted ever-increasing investment interest from investors outside of China. Post-COVID-19 outbreak, this sector has become even hotter as more businesses seek to move online, thus driving greater demand for cloud storage space. Since April 2020, the Chinese central and local governments have issued a number of policies to further encourage...

  • PE Investments In Data-Driven Companies In Southeast Asia

    A Data-Driven Market- Southeast Asia is developing its own rich ecosystem of ecommerce marketplaces, fintech service providers, ride-sharing companies and gig-economy platforms similar to, but distinct from, the global platforms that dominate North America and Europe....

  • Chinese Anti-Monopoly Regulator Accepts First Merger Control Filing Involving Variable Interest Entity (“VIE”) Structures

    On April 20, 2020, China’s State Administration for Market Regulation (“SAMR”) published on its website a notice in relation to the merger review of a simple case of concentration of operators, the Shanghai Mingcha Zhegang Management Consulting Co., Ltd. and Huansheng Information Technology (Shanghai) Co., Ltd. Newly Established Joint Venture Case (the “SMZ Case”)...

  • International Arbitration Update: Fourth Circuit Approves U.S. Discovery In Aid Of Foreign-Seated Private Commercial Arbitration, Widening Circuit Split

    An important question in international arbitration is whether courts in the United States can order discovery in aid of foreign-seated arbitrations under 28 U.S.C. § 1782 (“Section 1782”). The law in this area is quickly evolving. A new Fourth Circuit Court of Appeals decision, Servotronics, Inc. v. Boeing Co., permitting such discovery—and widening a circuit split which opened just last year—sugg

  • California Federal District Court For The First Time Approves Of U.S. Discovery In Aid Of Foreign-Seated Private Commercial Arbitration

    In the United States, some jurisdictions permit discovery using 28 U.S.C. § 1782 (“Section 1782”) in support of private commercial arbitrations seated outside the United States, and some do not. Notably, the Second Circuit Court of Appeals and the Fifth Circuit Court of Appeals have long held that Section 1782 cannot be used in connection with foreign-seated private commercial arbitrations (in...

  • MoFo APAC Arbitration Update: August 2019

    Hong Kong Court Addresses Interplay Between Arbitration and Insolvency - On August 2, 2019, the Hong Kong Court of Final Appeal addressed the interplay between arbitration and the court’s insolvency jurisdiction in its judgment in But Ka Chon v Interactive Brokers LLC [2019] HKCA 873. Under Hong Kong’s insolvency regime, creditors have a statutory right to apply to wind up insolvent debtors if

  • An Easier Road to a Hong Kong Listing for Biotech Companies

    In June 2017, the Hong Kong Stock Exchange (“HKEx”) initiated a holistic review of the Hong Kong listing regime to enhance its overall competitiveness against other major global listing venues, in particular to attract companies from emerging and innovative sectors. During this review, the HKEx identified the biotech industry and companies operating in the industry as a highly attractive pool of...

  • Privacy Laws in Asia - May 2015

    Privacy legislation in Asia has been extremely active in the past few years, and the level of activity and enforcement does not show any signs of slowing down. Eleven jurisdictions in Asia now have comprehensive privacy laws: Australia, Hong Kong, India, Japan, Macao, Malaysia, New Zealand, the Philippines, Singapore, South Korea and Taiwan. New Zealand is the only jurisdiction in the region that

  • Hong Kong Capital Markets Quarterly News -- October 2013

    In This Issue: New Sponsor Regime – Guidance Letters; Policy on Listing Overseas Companies; New Listing Decisions; New Guidance Letters; and Enforcement News Excerpt from New Sponsor Regime – Guidance Letters: Amendments to the Listing Rules, which complement the Securities and Futures Commission’s (“SFC”) new regime regarding sponsors, came into effect on October 1, 2013....

  • Hong Kong Stock Exchange Publishes Rule Changes to Complement SFC’s New Sponsor Regime

    On July 23, 2013, the Hong Kong Stock Exchange published changes to its Listing Rules which complement the SFC’s new regime regarding sponsors. Both sets of changes will come into effect on October 1, 2013, except for two of the Exchange’s Listing Rule changes (indicated below) which will be effective from April 1, 2014. (For more on the SFC’s revised sponsor regime, please see our Client Alert...

  • Hong Kong Capital Markets Quarterly News -- July 2013

    In This Issue: Consultations; New Listing Decisions; Regulatory Watch; New Guidance Letters; and Enforcement News. Excerpt from Consultations - Exchange’s Consultations on Review of Connected Transaction Rules and Definitions: In April, the Exchange issued two consultation papers regarding connected transactions... Please see full issue below for more...

  • Hong Kong Capital Markets Quarterly News -- April 2013

    In This Issue: Major Publications and Decisions; New Listing Decisions; New Guidance Letters; Enforcement News; and Regulatory Watch. - Excerpt from Major Publications and Decisions: Chain principle offer triggered - In February 2013, the Takeovers and Mergers Panel (“Panel”) ruled that an obligation under the Takeovers Code to make a chain principle offer for Hong...

  • Hong Kong Data Privacy Law Update: Personal Data (Privacy) (Amendment) Ordinance 2012

    INTRODUCTION - The Personal Data (Privacy) (Amendment) Ordinance 2012 (“Amendment Ordinance”) was formally adopted in July 2012. One of the most significant changes the Amendment Ordinance made to the existing Personal Data (Privacy) Ordinance (“PDPO”) is the tightening of control over the use and provision of personal data in direct marketing activities. The new regime is particularly...

  • Hong Kong Capital Markets Quarterly News -- February 2013

    In This Issue SFC’s Consultation Conclusions on Regulation of Hong Kong IPO Sponsors; Statutory Obligation to Disclose Inside Information now Effective; SFC Review of the Exchange’s 2011 Performance; Consultation Conclusions of the Exchange; New Listing Decisions; New Guidance Letters; Enforcement News; and Regulatory Watch. SFC’S Consultation Conclusions on Regulation of Hong Kong...

  • The Changing Privacy Landscape in Asia

    Originally published in Privacy & Security Law Report on December 17, 2012. In the past several months, the privacy landscape in Asia has dramatically altered. Two countries, the Philippines and Singapore, enacted comprehensive data privacy laws for the first time; Malaysia is on the verge of finally implementing its first comprehensive data privacy law more than two years after its adoption;

  • Consultation Conclusions on the Regulation of Hong Kong IPO Sponsors – The Top Five Things You Need to Know

    On December 12, 2012, the Securities and Futures Commission (SFC) published its eagerly anticipated consultation conclusions concerning the regulation of IPO sponsors (the “Consultation Conclusions”). While a more detailed Client Alert analyzing the Consultation Conclusions will be forthcoming, we have highlighted below the top five things you need to know now about the Consultation Conclusions.

  • Hong Kong Capital Markets Quarterly News -- October 2012

    In This Issue: Highlights of the new Hong Kong Companies Ordinance; New Listing Decisions; New Guidance Letters; Enforcement News; and Regulatory Watch Excerpt from Highlights of the New Hong Kong Companies Ordinance - On 12 July 2012, the new Companies Ordinance (CO) was passed by the Legislative Council, providing a modernized legal framework for the incorporation and operation...

  • Japanese Listings in Hong Kong

    As an international financial center, Hong Kong is one of the world’s leading capital markets, with the Stock Exchange of Hong Kong (the “SEHK”) being a favored venue for IPO fundraising activities. In 2011, total IPO funds raised in Hong Kong amounted to approximately US $36.1 billion, making Hong Kong the world’s largest IPO center for a third consecutive year. A Hong Kong listing offers...

  • Hong Kong Capital Markets Quarterly News -- July 2012

    In This Issue: SFC Notes Poor Quality Listing Applications; Regulation of Sponsors in Hong Kong; Class Action Reform; New Listing Decisions; New Guidance Letters; Enforcement News; and Regulatory Watch. Excerpt from SFC Notes Poor Quality Listing Applications In July 2012, the SFC published its Dual Filing Update, which continued to note that listing application materials...

  • Statutory Obligation to Disclose Price-Sensitive Information Effective on January 1, 2013

    Effective on January 1, 2013, HK-listed companies will have a statutory obligation under new Part XIVA of the Securities and Futures Ordinance (SFO) to disclose price-sensitive information (defined as “inside information”) to the public, as soon as reasonably practicable after the inside information has come to their knowledge. Breaches of the statutory disclosure requirement will be subject

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