Hong Kong: Mutual recognition of funds between Luxembourg and Hong Kong
Business,Funding,Hong Kong,Regional Law

Reading Time: 5 minutesIntroduction The Securities and Futures Commission (“SFC”) from Hong Kong and the Commission de Surveillance du Secteur Financier (“CSSF”) from Luxembourg have entered into a Memorandum of Understanding (“MoU”) on Mutual Recognition of Funds (“MRF”) on 15 January 2019, which will allow eligible Hong Kong public funds and Luxembourg UCITS fund (a collective investment scheme […]

Hong Kong: Amendments to an employment contract – whether there is “real benefit” to an employer
Business,Business Advice,Employment,Hong Kong,Regional Law

Reading Time: 4 minutesIntroduction In our previous newsletter “Amendments to an Employment Contract Must Be Supported by Fresh Consideration” (September 2017), we discussed the ruling of the Court of First Instance (“CFI”) in Wu Kit Man v Dragonway Group Holdings Limited HCLA 15/2016, where the CFI held that amendments to an existing employment contract were unenforceable due to lack of […]

Hong Kong: The Competition Tribunal refuses last-minute application to amend pleadings two months before trial
Business,Competition Law,Hong Kong,Regional Law

Reading Time: 4 minutesIntroduction In Competition Commission v Wing Hing Construction Co Ltd [2018] HKCT 6, the Competition Tribunal refuses a respondent’s application to amend its Response and file new witness statements in substitution for a statement already filed. Factual background In these proceedings, the respondents were contractors appointed from a reference list of the Hong Kong Housing Authority to […]

Hong Kong: Navigating the money laundering minefield – the Court of Appeal dismissed the constitutional challenge against the “no consent” regime
Business,Business Advice,Money Laundering

Reading Time: 10 minutesIntroduction In Interush Ltd v Commissioner of Police [2019] HKCA 70, the Court of Appeal (“CA”) has rejected an argument that two money laundering offences, namely sections 25 and 25A of the Organized and Serious Crimes Ordinance (Cap. 455) (“OSCO”) under the so called “no consent regime” or “informal freezing” of assets, infringe the property rights and […]

Lao PDR Legal Alert: New Economic Dispute Resolution Law in Effect
Business,Business Advice,Laos,Regional Law

Reading Time: 3 minutesThe Amended Law on the Resolution of Economic Disputes (Nº 51/NA, 22 June 2018) (the “Amended Law”) came into effect on 6 December 2018 and replaced the previous Law on Economic Dispute Resolution (Nº 06/NA, 17 December 2010) (the “2010 Law”). A key highlight of the Amended Law is the inclusion of more detailed procedures […]

Hong Kong: Court orders boiler room fraudsters to compensate investors
Business,Business Advice,Hong Kong,Investments,Regional Law

Reading Time: 4 minutesIntroduction On 21 December 2018, the Securities and Futures Commission (the “SFC”) succeeded in its actions against boiler room fraudsters, where the Court of First Instance (the “CFI”) ordered such fraudsters to compensate investors who fell victim to the scams, in accordance with section 213 of the Securities and Futures Ordinance (the “SFO”). Background Boiler […]

Hong Kong: Who shall bear the burden of proof in cargo damage claims?
Business,Hong Kong,Maritime,Regional Law

Reading Time: 7 minutesIntroduction In a recent case Volcafe v CSAV [2018] UKSC 61, the Supreme Court of the United Kingdom (the “Supreme Court”) discussed for the first time as to who shall bear the burden of proof in cargo damage claims against the shipowner under the Hague Rules. Facts Background The Claimants, who are the cargo owners and bill […]

Hong Kong Legal Update: What happens when a creditor petitions to wind up a company already subject to an unfair prejudice petition?
Business,Business Advice,Hong Kong,Regional Law

Reading Time: 5 minutesIntroduction In a recent Court of First Instance case Li Fu Hua (also known as Denise Li) v Chen Ching Chih (陳清治) and another HCMP 1374/2018, [2018] HKCFI 2786, the court has to deal with the situation where a creditor filed a winding up petition (on ground of insolvency) against a company in respect of which a […]

Hong Kong Regional Update: A second chance – principles governing the reversal of a guilty plea
Hong Kong,Regional Law

Reading Time: 4 minutesIntroduction In some rare scenarios where a defendant is legally represented but is not properly advised by his legal representatives before making a guilty plea (or a defendant is unrepresented), the defendant may find himself in need of making an application to reverse his plea on the ground that when the guilty plea was made, […]

Hong Kong Regional Update: How does the International Regulations for Preventing Collisions at Sea 1972 apportion liability in collisions?
Hong Kong,Regional Law

Reading Time: 3 minutesIntroduction In a situation where vessels are dangerously approaching each other and the action of one vessel alone may not be enough to avoid a risk of collision (i.e. a close quarters situation), it is rather difficult to assess the respective blameworthiness and causative potency of the vessels involved. In Owners and/or Demise Charterers of “TS […]

Hong Kong Maritime Series: Will shipowners be protected by letters of indemnity for delivering cargoes to unnamed receivers?
Business,Hong Kong,Maritime,Regional Law

Reading Time: 6 minutesBackground It is not uncommon for charterers or shipowners to be offered a letter of indemnity (“LOI”) for delivery of cargo to a named receiver without the presentation of original bills of lading. This situation arises when the bills of lading cannot be produced or released at the load port before the cargo arrives at […]

Hong Kong Maritime Series: Would the Court impose conditions for granting relief
Hong Kong,Legal Updates,Regional Law

Reading Time: 4 minutesIntroduction In admiralty actions where there are cross claims, the procedure is governed by Order 75 Rule 41 of The Rules of High Court (Cap.4A) (“RHC”). The rule does not provide for an automatic deadline for a defence to a cross-claim to be filed, instead the Registrar of the High Court may give directions for […]