By Barbara Chiu    King & Wood Mallesons Dispute Resolution Group

chiu_bThe Securities and Futures Ordinance (Cap. 571) (“SFO”) regulates the securities and futures market in Hong Kong, and provides a comprehensive civil and criminal regime to address misconduct in the financial market. In addition, sections 40 (Civil liability for misstatements in prospectus) and 40A (Criminal liability for misstatements in prospectus) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) (“CWUMPO”) also impose civil and criminal sanctions for misstatements made in a prospectus for the protection of public investors.
Continue Reading Key regulations on the disclosure of false or misleading information / misstatements in prospectus in Hong Kong

King & Wood’s Trademark Group

On November 9, 2011, the China Trademark Office (the "TMO") has partially adjusted its official website for the purpose of facilitating the public in browsing and searching information about recordal of pledges of exclusive rights to registered trademarks. The adjustments are in respect of the place of the information, the means of disclosure and the items of disclosure.

Thanks to such adjustments, the public may directly search whether the exclusive right of a registered trademark is pledged in the column "Use of Trademark Rights" on the TMO website, including name of the pledgor, name of the pledgee, the registration number of the pledged trademark, and validity period of the pledge. Moreover, the pledge information in e-charts has changed to web links below which the public may find a collection of information of pledges as of November 2009.

Continue Reading China Trademark Office Adjusts Means of Disclosure for Pledge of Exclusive Rights

金杜律师事务所商标

2011年11月9日,商标局对“中国商标网”商标专用权质权登记信息公示页面进行部分调整,以方便公众进行网页浏览及查询。具体涉及信息公示的位置、方式和内容等方面的调整。

本次调整后,公众如需了解某个商标是否存在质押登记,可直接在“中国商标网”的“商标权运用”一栏中查询相关信息,包括“出质人名称”、“质权人名称”、“出质商标注册号”、“质权登记期限”等。另外,质权登记信息由表格页面调整为链接页面,并将2009年11月至今的登记信息在该链接下汇总。

Continue Reading 国家工商总局商标局调整商标专用权质权登记信息公示方式

作者:尤杨、蔺楷毅 金杜律师事务所公司组

本文分两部分刊登, 2011年9月5日金杜法律博客(Chinalawinsight)刊登的了本文的第一部分。文章第二部分将继续对《房地产信托产品的风险概要》进行解读。

二、各类房地产信托产品的固有风险

尽管房地产信托产品种类繁多,但是各类信托产品都有其固有风险,这些风险与该类信托产品的特性紧密结合,根植于该类信托产品之中。例如:

1、以特定资产收益权为投资对象的信托计划

这类信托常与结构化信托相结合,典型的结构化特定资产收益权信托的模型是:信托公司与交易对手达成协议后,信托公司向公众募集资金并赋予其优先级受益权,并以募集来的资金收购项目公司的特定房地产项目的收益权。同时,项目公司的母公司或实际控制人将项目公司的股权转让与信托公司,并获得次级受益权,借此将房地产开发商的利益与优先级受益权人的利益进行绑定。在信托计划到期后,信托公司首先向优先级受益人分配信托利益,之后再向次级受益人分配剩余信托利益。

Continue Reading 房地产信托产品的风险概要(2)