The Hong Kong Court of Appeal has finally laid to rest the vexed issue of whether an arbitration agreement or a winding-up petition should take precedence in an insolvency situation. In two parallel decisions, the Court of...more
In the year of the dragon, attention turns to the enforcement of arbitral awards. We look at five different Hong Kong decisions where enforcement or set aside has been the central issue often involving arguments of public...more
A wide-ranging mechanism allowing for easier reciprocal enforcement of judgments in mainland China and Hong Kong will come into force on 29 January 2024. The new enforcement regime should reduce the need to re-litigate...more
Three recent Hong Kong first instance court decisions have left undecided the question of whether a winding-up petition will trump an agreement to arbitrate when it comes to a winding-up and particularly in the context of...more
A Hong Kong court has awarded a trustee enforcing obligations under a keepwell deed more than US$489 million after finding the keepwell provider to be in breach. The decision by the Honourable Mr Justice Harris in Citicorp...more
A Hong Kong court has for the first time declared that cryptocurrencies are property and capable of being held on trust. In a landmark ruling, the Honourable Madam Justice Linda Chan, in Re Gatecoin Limited [2023] HKCFI 91,...more
For the first time, the English court has granted permission for service of proceedings to be effected by non-fungible token (NFT) on the blockchain. The option to serve by NFT may be vital for victims of cryptocurrency fraud...more
Building a resilient tech strategy is crucial to keep on top of the game. Most businesses, if they are not using technology already are probably looking into ways of using it to stay ahead of the pack. However, if your core...more
The hack of the Hong-Kong based crypto-exchange Bitfinex has been described as the “heist of the century”. Where a crypto-asset is in play in litigation, in particular as a potential target for enforcement, parties should be...more
3/31/2022
/ Bitcoin ,
Blockchain ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Cybersecurity ,
Department of Justice (DOJ) ,
FinTech ,
Hackers ,
Hong Kong ,
Popular
The Hong Kong Court of Appeal has confirmed the position that correspondence marked "without prejudice" may not in fact be inadmissible before the court notwithstanding the label. Whether there was an existing dispute is a...more
The Hong Kong court has reaffirmed its jurisdiction to grant vesting orders to assist victims of cyber fraud. The decision which is consistent with our recent success obtaining vesting orders for clients and two other 2021...more
Minority shareholders preparing unfair prejudice petitions should take note of a recent English Court of Appeal decision which highlighted the need for the petitioner to plead - and then prove - a "causal connection" between...more
In a significant judgment, a Hong Kong court has recognized the Beijing administrators of the commercial arm of the Peking University group but granted only a limited stay of proceedings which means that bondholders and...more
The General Data Protection Regulation 2016/679 (GDPR) provides means to enforce provisions related to personal data processing by you as a data controller or data processor. It introduces collective actions everywhere in...more
In a recent High Court decision, the court rejected the plaintiff's application for a declaration that the defendant (a first layer recipient) held the total amount of three transfers that were mistakenly made by the...more
On 21 August 2020, the court of Chancery of the State of Delaware granted a motion brought by three Defendant KPMG firms to dismiss a cause of action seeking to hold KPMG LLP (KPMG US) liable as the agent of KPMG Cardenas...more
9/18/2020
/ Accounting ,
Financial Services Industry ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
KPMG ,
Liability ,
Netherlands ,
PCAOB ,
Regulatory Agenda ,
Regulatory Standards ,
Risk Management
In a pair of recent contrasting judgments, Re Agritrade Resources Ltd [2020] HKCFI 1967 and Re Rare Earth Magnesium Technology Group Holdings Ltd [2020] HKCFI 2260, the Hong Kong Court has once again confirmed its pragmatic...more
On the evening of 30 June 2020, the Hong Kong Government gazetted the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (NSL) with the new law taking...more