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China Law Insight

Tag Archives: hong kong

The Price is Right? Third party funding in Hong Kong and its potential impact on the construction industry

Posted in Global Network

By Paul Starr, James McKenzie and Nicholas Lee. King & Wood Mallesons’ Hong Kong office.

In the recently released “Report on Third Party Funding for Arbitration” (“Report”) the Law Reform Commission (“LRC”) has recommended that the Arbitration Ordinance (Cap. 609) be amended to permit third party funding in arbitration, mediation and litigation proceedings under the Arbitration Ordinance.

Though the reform still awaits passage through Hong Kong’s Legislative Council, should it go ahead it is likely to herald a flurry of activity in the funding space, with … More…/更多

Case study: Belt and Road disputes – Choosing Hong Kong as the seat of arbitration

Posted in Global Network

By Paul Starr King & Wood Mallesons’ Hong Kong office

Summary

China’s Belt and Road initiative brings new investment opportunities but also an increased need for careful risk management. Prior to entering into any investments, it is important for contracting parties to consider their dispute resolution options and to ensure these are properly reflected in the contracts.

Arbitration has advantages over litigation, particularly when the courts closest to an investment are in countries where investors may be less familiar with the legal system. This case study discusses t… More…/更多

One Arrangement, Two Systems: considerations when enforcing awards between Hong Kong and the PRC

Posted in Global Network

By Edmund Wan , Teng Haidi, James McKenzie, Yu Qing and Jack Nelson. King & Wood Mallesons

Introduction

The foundational instrument for the enforcement of international arbitral awards, the New York Convention (the “Convention”),[1] has made arbitral awards readily enforceable across the world but, in application, the Convention remains reliant upon the divide between domestic and international arbitration awards.

Cross-border enforcement of arbitral awards within the constitutional principle of “one country, two systems” and between the People’s Republic of … More…/更多

Six Months On, Competition Ordinance Compliance Remains Focus

Posted in Global Network

By Neil Carabine and James Wilkinson King & Wood Mallesons.

In the first six months since the Competition Ordinance (Cap. 619) came into full effect, businesses and trade associations have been active in reviewing their contracts and conduct to ensure compliance with the new law. The Competition Commission and Communications Authority, meanwhile, have received numerous complaints and queries in relation to potential breaches of the law.

In this article, we highlight some of the key developments since Hong Kong’s cross-sector competition law took effect in December 201… More…/更多

Hong Kong’s competition law now in force – Tips for financial institutions

Posted in Global Network

By Neil Carabine, Richard Mazzochi, Urszula McCormack and James Wilkinson King & Wood Mallesons’ Hong Kong Office

Hong Kong’s new competition law is now in effect and applies to all financial institutions in Hong Kong. Numerous financial institutions and payment systems participants have faced penalties by competition authorities overseas for anti-competitive conduct, and similar fines may now be imposed in Hong Kong. It is therefore vital that financial institutions ensure their compliance programs, internal reviews and leniency strategies contemplate Hong Ko… More…/更多

Insight on the HK Competition Ordinance

Posted in Global Network

By Raymond Wong King & Wood Mallesons’ Hong Kong Office.

The Hong Kong Competition Ordinance (Cap. 619) (the “Ordinance”) will be fully implemented on 14 December 2015 in Hong Kong. Like competition laws in other jurisdictions, the Ordinance aims to protect and promote fair market competition by prohibiting certain conduct that prevents, restricts or distorts competition in Hong Kong.

Download PDF, please click here.… More…/更多

Why should parties consider Hong Kong as an arbitral venue?

Posted in Global Network

By Justin Lo, Alan Zhang and Alice Leung, King & Wood Mallesons’ Hong Kong Office

The growth in cross-border investment has led to more complex relationships between commercial parties, particularly where foreign elements are involved. Commercial parties are increasingly choosing international arbitration as the means to resolve their disputes.

For parties considering arbitration in the Asia Pacific Region, Hong Kong is an attractive arbitral venue for a number of reasons.

Independent and robust legal system

Hong Kong’s legal system is based on the rule of law, inde… More…/更多

Mutual recognition of funds between the Mainland and Hong Kong

Posted in Corporate

By Minny Siu, Hayden Flinn and Cindy Shek, King & Wood Mallesons Hong Kong Office

The regulatory framework and application details for mutual recognition of publicly offered funds (MRF) between the Mainland and Hong Kong were finally released after almost 2 years of market expectation. The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) signed a Memorandum of Regulatory Cooperation concerning Mutual Recognition of Funds between the Mainland and Hong Kong (Memorandum) on 22 May 2015, confirming the launch of MRF on 1 July 2015.… More…/更多

Legal for now: Collusion among bidders at Hong Kong auctions

Posted in Antitrust & Competition

By:  Kenneth Y. Choy of King & Wood’s Hong Kong office and Antitrust & Competition Group

Tai Po is a traditional village located in the northeastern part of the New Territories in Hong Kong. Its historical relics, old temples, quaint fishing village and natural scenery make it a popular destination for both tourists and local residents alike.

The Hong Kong government began building up Tai Po in the late 1970’s, transforming it from a sleepy fishing community into a bustling new town of 300,000. In the last decade, the Government decided to tear down t… More…/更多

Hotel Trademark Dispute in Hong Kong

Posted in Intellectual Property

 By Kenneth Choy, Partner, King & Wood Hong Kong

Rhombus Hotel and Resorts is a Vancouver based group that owns and operates three boutique hotels in Hong Kong. They are planning to open a fourth one next year to be named “Hotel MO by Rhombus” that they described in their website as “a Modern and Outstanding boutique hotel” in the heart of the Western District in Hong Kong.  As part of the preparation for the hotel opening, they formed two Hong Kong companies, HOTEL MO LIMITED and HOTEL MO MANAGEMENT LIMITED. As they gear up for the opening, they encounte… More…/更多

Hong Kong’s Competition Law – Unveiled!

Posted in Antitrust & Competition

By Susan Ning, Ronald Arculli, Peter Waters, and Angie Ng of King & Wood and Gilbert + Tobin (1)

Hong Kong’s Competition Bill (the Bill) was gazetted on 2 July 2010.(2) Formal public consultations on a cross-sector competition law for Hong Kong commenced in 2006. The Bill will be tabled in Hong Kong’s Legislative Council (LegCo) on 14 July 2010. When the Bill becomes law, it will be known as the Competition Ordinance (CO).… More…/更多

Hong Kong Budget Report: New Benefits for Inventors

Posted in Intellectual Property

By Kenneth Choy, Partner, Corporate, King & Wood–Hong Kong

Hong Kong’s Financial Secretary, the Hon. John C Tsang, gave his annual budget speech Wednesday, February 24th. Buried in the 178 paragraph speech on the 2010-2011 Budget Report were two paragraphs relating to intellectual property rights. The issues mentioned by the Financial Secretary may benefit inventors and high-tech start ups.  … More…/更多

Angel Investing in Hong Kong: Part VI Conclusion

Posted in Corporate

By John Lo, Partner, Corporate, King & Wood–Hong Kong

Hong Kong is blessed with many favorable elements for business growth. The most prominent factors often cited for Hong Kong’s business success include its gateway role to China, the rule of law, and a location where goods, services and finance move freely. Such a positive environment has led to many success stories, particularly in the tech sector.… More…/更多

Angel Investing in Hong Kong: Part V Government Tech Policies

Posted in Corporate

By John Lo, Partner, Corporate, King & Wood–Hong Kong

Nurturing the growth of a science and technology focused sector became a significant part of the government policies of the first post-1997 administration. Under the guidance of the late Professor Tien Chang-lin, former chancellor of University of California, Berkeley, the government issued a technology blueprint for Hong Kong shortly after the changeover, which led to a new period of innovation and growth in the tech sector.… More…/更多

Angel Investing in Hong Kong: Part III Angel Profiles & Networks

Posted in Foreign Investment

By John Lo, Partner, Corporate, King & Wood–Hong Kong

To a large extent, angel investment in Hong Kong has so far revolved around individual investors rather than institutions. It is useful to examine local angel financing activities by looking at the angel profiles.To date, no systematic research has been conducted regarding the number or makeup of business angels in Hong Kong. General observations indicate that the following groups, not in any order, have been spearheading the efforts: (a) former VC practitioners; (b) individuals who have made money from entrepreneurial … More…/更多

Angel Investing in Hong Kong: Part II Startup Scene

Posted in Foreign Investment

By John Lo, Partner, Corporate, King & Wood–Hong Kong

Hong Kong has perhaps one of the most heterogeneous and interesting mix of startups in the world in terms of founder makeup, location of operational base and target markets.  Founders of a Hong Kong startup, for example, could be made up of individuals from a wide variety of personal backgrounds, including locals, returnees mostly from North America, foreign expats, and PRC residents and returnees, especially those hailing from the Pearl River Delta. While a “Hong Kong startup” may be taken to mean the use … More…/更多

Hong Kong’s Proposed Competition Ordinance: Unsettled Issues of Design

Posted in Antitrust & Competition, Corporate

The Hong Kong Government has decided to introduce a cross-sector competition law during the 2008-09 legislative session. The Government has published a draft framework for the competition law and is currently seeking public comments on this draft.

The introduction of a competition law is a significant step for an economy to take. Not all competition laws are the same and the most important thing is that the law is designed well to suit the Hong Kong economy.… More…/更多