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Hong Kong

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In brief On 14 May 2021, the Supreme People’s Court (SPC) and the Hong Kong government agreed a framework (“Framework”) for judicial cooperation in corporate insolvency and debt restructuring. Under the Framework: A Mainland bankruptcy administrator may apply to the Hong Kong High Court for recognition of and assistance to Mainland bankruptcy proceedings.A Hong Kong liquidator or provisional liquidator may apply to the Intermediate People’s Court at a designated pilot area for recognition of and…

In brief We have seen a noticeable increase in the prevalence and sophistication of cyber fraud incidents in recent years. This has led to a substantial rise in civil recovery actions, and as a result, we now have the benefit of key learnings from recent decisions by the Hong Kong Courts and other jurisdictions. This alert discusses some of the common themes and challenges victims of fraud may face in civil recovery actions, particularly in…

In brief Boardroom battles are becoming more common in Hong Kong, particularly in a listed company context. A boardroom can be a place where individuals with the best intentions for a company can exchange views, but it can also be a hotbed for conflict when disagreements arise. A recent Court of First Instance judgment sets out some reminders of the cardinal principles which an applicant in a boardroom battle should observe in an ex parte…

Victims of cyber fraud have been using vesting orders – a means of direct recovery for victims of fraud – to recover stolen funds from fraudsters and subsequent recipients. Often applied concurrently with a default judgment, vesting order is thought to be a convenient alternative to garnishee proceedings. In Brief In the past year, the Courts’ jurisdiction to grant vesting orders in cyber fraud cases has been reassessed. There are now conflicting first-instance judgments on…

Six years after its inception, the Belt and Road Initiative (BRI) launched by Chinese President Xi Jinping has entered a new, more mature stage. Now based on a more inclusive, transparent and sustainable approach, the global development strategy has been gaining more traction in the 130+ collaborating countries. However, there are two sides to this particular coin: as the opportunities grow, so do the risks. Risk mitigation and compliance for BRI projects have become top…

On October 1, 2019, the “Arrangement Concerning Mutual Assistance in Court-ordered Interim Measures in Aid of Arbitral Proceedings by the Courts of the Mainland and of the Hong Kong Special Administrative Region” (“Arrangement”) entered into between the Hong Kong Government and China’s Supreme People’s Court came into force. This Arrangement allows, for the first time, parties to arbitrations[1] seated outside of Mainland China to obtain interim relief protection[2] from Chinese Courts. The Arrangement is reciprocal…