Hong Kong’s audit regulator, the Accounting and Financial Reporting Council (AFRC), says it expects all audit firms and their staff to comply with all relevant laws and regulations set out within the accountants’ ethics code....more
It is anticipated that as of 1 January 2024, Hong Kong will follow the PRC in making a significant change to its concept of “sovereign” or “state” immunity which further enhances Hong Kong’s reputation as a dispute resolution...more
The Hong Kong court has handed down a significant decision on the issue of whether an individual bondholder under a global note can present a winding up petition against a bond issuer. The court in Re Leading Holdings Group...more
In the latest development regarding the validity and enforceability of keepwell deeds in the "Peking Founder” litigation, a Hong Kong court has awarded more than US$164 million by way of damages to one of the plaintiffs who...more
The Hong Kong Court of Appeal has overturned a first instance judgment that had held that the longstanding use of "letters of no consent" to preserve monies held in bank accounts suspected of harbouring the proceeds of crime,...more
The Hong Kong government expects to begin discussions next year to join the Regional Comprehensive Economic Partnership (RCEP). RCEP, the largest free trade agreement ever, should have the effect of lowering tariffs,...more
2022 has been a year which has seen significant developments in court-led corporate rescue and insolvency law reform in Hong Kong. In light of the lingering COVID19 pandemic, it was all the more important that the Hong Kong...more
The Hong Kong Court of Appeal has dismissed a challenge to a first instance decision which recognized the Beijing administrators of the commercial arm of the Peking University group but granted only a limited stay of...more
The Hong Kong Court of First Instance case has denied declaratory and payment order relief sought by a company that had been the victim of cyber fraud because of issues with their pleadings. In the judgment, the Honourable...more
Whilst on the face of it a recent Hong Kong court decision was about copyright ownership in an online game, the decision in Emagist Entertainment Ltd v Nether Games (Hong Kong) Ltd [2022] HKCFI 899 raises a host of other...more
For the first time in England & Wales, a court has ordered the winding-up of a listed plc on the grounds of loss of substratum – the abandonment of the company's original main object and purpose. If Hong Kong follows this...more
Cyber fraud scams, typically involving fraudsters using spoofing / phishing tactics to bring about unlawful receipt of monies, have, unfortunately, been a mainstay in Hong Kong in recent years.
As the fraudsters’ nefarious...more
Over the past nine months in Hong Kong, luxury retailers have encountered a challenging market. Hong Kong has traditionally been a popular destination for Mainland Chinese seeking to purchase luxury goods, but recent...more
2/11/2020
/ Business Interruption ,
China ,
Contract Terms ,
Country of Origin ,
Cross-Border Transactions ,
Customs ,
Data Protection ,
Emergency Management Plans ,
Health and Safety ,
Hong Kong ,
Infectious Diseases ,
Internal Controls ,
Internal Reporting ,
Luxury Goods ,
Policies and Procedures ,
Public Health ,
Public Relations ,
Reputation Management ,
Reputational Injury ,
Retail Market ,
Retailers ,
Risk Management ,
Shipping ,
Suppliers ,
Supply Chain ,
Vendors
A Hong Kong court has granted an injunction freezing the assets of a French cryptocurrency trader in a dispute over what happened to bitcoins held in an insolvent trading platform. In Nico Constantijn Antonius Samara v Stive...more
12/5/2019
/ Asset Freeze ,
Bitcoin ,
Corruption ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Evidence ,
Financial Fraud ,
Financial Transactions ,
Hong Kong ,
Injunctions ,
Jurisdiction ,
Proof of Ownership ,
Trading Platforms ,
Transfer of Assets ,
UKJT ,
Virtual Currency ,
White Collar Crimes
It has been quite a time in Hong Kong. And the protests continue. But, is the recent political turmoil a symptom of bringing Hong Kong up to international anti-money laundering (AML) standards?
...more
On 6 June, 2019, the Privacy Commissioner for Personal Data (the “PCPD“) issued an enforcement notice against Cathay Pacific Airways (and its affiliate Hong Kong Dragon Airlines) (together, “Cathay Pacific“) in respect of a...more
In recent weeks, courts in England and Hong Kong have taken the opportunity to set out the serious consequences that follow from deliberately breaching disclosure orders made in the context of freezing orders....more