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By Suzanne Gibson King & Wood Mallesons’ Singapore Office

suzanneThe Asian retail investment funds market is in the throes of a significant shake-up, with two new cross-border Asian passporting regimes and a momentous mutual recognition arrangement between Hong Kong and China.

The ASEAN CIS Framework for cross-border offerings of collective investment schemes (CIS Framework) is already in existence, with managers in Singapore, Malaysia and Thailand now able to passport their compliant domestic funds to retail investors in these three countries. 
Continue Reading Asian funds passporting: the Luxembourg of Asia?

作者：Suzanne Gibson 金杜律师事务所新加坡办公室

suzanne亚洲零售投资基金市场正经历重大变革带来的阵痛，市场上出现了两大新的跨境亚洲互通机制以及香港与中国内地重大互认安排。

东盟共同投资计划框架 (ASEAN CIS Framework) 现已达成，旨在推动共同投资计划跨境交易。

如今，新加坡、马来西亚和泰国的基金经理可以将本国符合条件的基金出售给这三个国家的散户投资者。 
Continue Reading 亚洲基金互通：谁将成为亚洲的卢森堡？

By Mark Hoyle King&Wood Mallesons’ Dubai Office

Mark HoyleIn the language of lawyers praising a jurist, the word “greatest” is usually an overblown epithet. There is one man though that many consider, rightly, to be the Arab world’s greatest jurist in modern times. Dr Abdel Razzaq Al Sanhouri was the eminent jurist, teacher, writer and draftsman…

By Juliette Huard-Bourgois and Swati Tripathi, King & Wood Mallesons’ London Office

The conduct of international arbitration proceedings, from enforcement of arbitration agreements to enforcement of arbitral awards, sometimes involves actions before the courts. In the European Union (EU), international arbitration has to co-exist, not only with national procedural law in each jurisdiction, but also with EU procedural law, which harmonises jurisdiction and enforcement rules amongst the EU states.

EU procedural harmonisation is orchestrated through the application by each EU State of Council Regulation (EC) 44/2001 of 22 December 2000 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (hereafter the “Brussels Regulation”). The objective of the Brussels Regulation is the creation of an EU area of justice, where parallel court proceedings are prevented and judicial decisions can circulate easily.
Continue Reading Recast Brussels Regulation: a Brighter Future for Arbitration in the EU

作者：Juliette Huard-Bourgois 与Swati Tripathi 金杜律师事务所伦敦办公室

国际仲裁程序的实施，从仲裁协议的执行到仲裁裁决的执行，有时会涉及法院诉讼。在欧盟，国际仲裁不仅必须与每个司法辖区的国内程序法共存，更须与欧盟程序法共存，而欧盟程序法协调了欧盟国家之间的管辖权规则及执行规则。

欧盟程序上的协调，通过欧盟国家采用欧盟理事会于2000年12月22日通过的《关于民商事案件管辖权与判决承认及执行的规则》（（EC） 44/2001）（下称“《布鲁塞尔规则》”）得以实现。《布鲁塞尔规则》的目标为创建一个欧盟司法区，在该区域内禁止平行审判程序，而且司法判决也易于传播。
Continue Reading 《重订布鲁塞尔规则》：欧盟仲裁的未来更美好

By Julia Court, Paul Starr, Richard Lyons and Suraj Sajnani King and Wood Mallesons

Tcourt_jstarr_phelyons_richard NEC3 Engineering and Construction Contract (“NEC3”) is on a mission to reconstruct the way in which engineering and construction contracts are carried out. From its novel approach to language to the spirit of collaboration which is embedded throughout the contract – the NEC3 takes great leaps away from the adversarial culture of traditional contracts, such as the JCT or FIDIC suite of contracts and the standard forms typically used in Hong Kong in the public and private sectors.

One such leap is the effect that the NEC3 has on disputes arising out of the contract. Proponents of the NEC3 state that its anti-dispute nature is a large reason for its popularity, and point to the limited pool of relevant case law as support for the position that the NEC set of contracts discourage litigation.
Continue Reading The New Engineering Contract – Antidote to arbitration?

作者：Julia Court、Paul Starr、Richard Lyons与Suraj Sajnani 金杜律师事务所

court_jstarr_plyons_richardNEC3工程施工合同（“NEC3”）的任务是重塑工程施工合同的实施方式。从新颖的方式，到语言，再到贯穿整个合同的合作精神——NEC3取得了突破性进展，摆脱了JCT或FIDIC系列合同及常用于香港公共及私营部门的标准格式合同等传统合同的对抗性文化。

进展之一是NEC3对合同产生的争议的影响。NEC3的支持者称，NEC3的厌讼性质是其广受欢迎的一大原因，并指出相关判例法数量有限，以此支撑NEC系列合同不鼓励诉讼的观点。
Continue Reading 新工程合同——仲裁解药？

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, independence of the judiciary and preserves the common law. The World Economic Forum Global Competitiveness Report for 2013 and 2014 ranked Hong Kong number four in terms of judicial independence out of 148 jurisdictions, ahead of the UK, the US, Singapore and many members states of the European Union.

Hong Kong’s legal professionals are fully experienced and capable of providing clients with diversified professional legal advice and related services. Arbitrators in Hong Kong are regarded as independent and highly experienced in dealing with cross border commercial disputes. As such, Hong Kong is seen as a more attractive arbitration hub for domestic and foreign parties to resolve their disputes.
Continue Reading Why should parties consider Hong Kong as an arbitral venue?

作者：Justin Lo  Alan Zhang  Alice Leung 金杜律师事务所香港办公室

跨境投资的增长使商事主体之间的关系更加复杂，特别是在涉及涉外因素时。越来越多的商事主体选择将国际仲裁作为解决纠纷的方法。

对于考虑在亚太地区进行仲裁的当事方，香港以诸多原因成为极具吸引力的仲裁地。

独立稳健的法律体系

香港的法律体系以法治和司法独立为根基，并且保留了普通法。2013年和2014年的《世界经济论坛全球竞争力报告》在司法独立性方面，将香港列为148个司法辖区中的第四名，领先于英国、美国、新加坡及众多欧盟成员国。

香港的法律专业人员经验丰富，能够为客户提供多样化的专业法律意见及相关服务。香港的仲裁员被认为具有独立性，并对处理跨境商事争议具有丰富经验。由此，香港被国内外当事方视为更具吸引力的争议解决仲裁地。
Continue Reading 当事方为何应考虑将香港作为仲裁地？

By Guo Sun Lee  Hayden Flinn, King & Wood Mallesons’ Hong Kong Office

lee_guosunOn 10 July 2015 the Hong Kong Legislative Council agreed to extend the existing profits tax exemption for offshore funds to PE funds. The new exemptions, set out in the Inland Revenue (Amendment) Bill 2015 (the “Bill”), will come into effect shortly when the Bill is gazetted and will apply to transactions carried out after 1 April 2015.

The amendments, designed to address the concerns of offshore PE funds and promote Hong Kong’s status as an asset management hub, broaden the existing exemption to cover transactions in securities of certain private companies incorporated outside Hong Kong, to remove the requirement to transact through SFO licensed entities for ‘qualifying funds’ and to extend coverage to include special purpose vehicles.
Continue Reading Amended profits tax exemption a welcome change for private equity funds