News & Analysis as of

Hong Kong

Mayer Brown

Cyber Threats on the Rise: Dissecting the Common Themes Behind Recent Cybersecurity Incidents in Hong Kong

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Hong Kong has witnessed a notable surge in cyber breach incidents in recent years. The cyberattacks have affected various organisations across the public, private and non-profit sector. Cybersecurity incidents recorded a...more

Mayer Brown

A New Chapter? Hong Kong Proposes Introducing Copyright Exception for Text and Data Mining

Mayer Brown on

On 8 July 2024, Hong Kong's Commerce and Economic Development Bureau (“CEDB”), along with the Intellectual Property Department (“IPD”), released a public consultation paper on copyright and artificial intelligence (AI)...more

Ius Laboris

Hong Kong launches e-platform for pension scheme

Ius Laboris on

The Mandatory Provident Fund Schemes Authority (‘MPFA’) has commenced a major overhaul of the Hong Kong pensions system with the launch of the eMPF Platform in June 2024....more

Mayer Brown

Legal Privilege in Cyber Incidents: Lessons for Hong Kong from Australia’s Optus Cyber Breach

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Important lessons for Hong Kong organisations managing cyber accidents may be learned from the noteworthy ruling in a recent Australia case, Singtel Optus Pty Ltd v. Robertson [2024]. For background, from 17-20 September...more

BCLP

HK Security of Payment Bill: Government Responds to Submissions from the Public

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The Hong Kong Government received 37 submissions from the public in July 2024 regarding the Construction Industry Security of Payment Bill (“Bill”) and held discussions with deputations from different stakeholders at a LegCo...more

Conyers

Winding-Up Petition Struck Out, Joint Provisional Liquidators Discharged in Bermuda

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On 15 May 2024, the Bermuda Court granted an order striking out a winding-up petition (the “Petition”), setting aside an earlier order appointing joint provisional liquidators (“JPLs”), and discharging the JPLs appointed over...more

A&O Shearman

Hong Kong Government considers changes to proposed critical infrastructure cybersecurity law

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The Security Bureau has completed its one-month consultation on its proposal in relation to the Protection of Critical Infrastructures (Computer Systems) Bill (the "Bill") and released the consultation report in its...more

Conyers

Too Radical For A Change? A Summary of Garofalo V Crisp And Ors

Conyers on

In Garofalo v Crisp and Ors [2024] EWHC 1737 (Ch), the English Court found that a higher evidential threshold should be applied when deciding whether or not to grant an exceptional interim relief for a change of management...more

BCLP

Smart Contracts and the Use of Arbitration to Resolve Related Disputes

BCLP on

In recent years, technology advancement has introduced new methods for contract formation. In particular, the rise of blockchain technology has led to the emergence of “smart contracts”, which are digital contracts which...more

BCLP

HK Security of Payment Bill: An Insolvency Exception to Ban Against “Pay When Paid” Clauses?

BCLP on

On 16 July 2024, the Hong Kong LegCo Bills Committee which is considering the Construction Industry Security of Payment Bill (“Bill”) held a meeting to receive representations and submissions on the Bill from deputations sent...more

BCLP

HK Court Rejects “Arbitral Confidentiality” Argument in Parallel Court and Arbitration Proceedings

BCLP on

In Beijing Songxianghu Architectural Decoration Engineering Co., Ltd v Kitty Kam [2024] HKCFI 1657 (date of reasons for decision: 19 June 2024), the Hong Kong Court of First Instance (“the Court”) dismissed an application for...more

A&O Shearman

The first move: Hong Kong Competition Commission (HKCC) enforces non-compliance with investigation powers

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For the first time since it was established over a decade ago, the Hong Kong Competition Commission (HKCC) has announced that an individual has been charged for failing to comply with its investigation powers under the...more

Conyers

Taking Security Over Shares in a Cayman Islands Exempted Company

Conyers on

The Cayman Islands (“Cayman”) is recognised as a leading international financial centre and well regarded as a creditor-friendly jurisdiction (with the absence of debtor-friendly insolvency such as Chapter XI in the United...more

Hogan Lovells

Trading in the twilight – a recent UK case may pose risks for Hong Kong company directors who “postpone the inevitable"

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When a company is in financial distress, directors face difficult choices. Should they trade on to try to “trade out” of the company’s financial difficulties or should they file for insolvency? If they act too soon, will...more

Conyers

日本企業のケイマン諸島持株会社上場

Conyers on

日本の音響制作会社のBloomZは最近、Nasdaqでそのケイマン諸島持株会社を上場しました。弊事務所は日本の事業会社のケイマン諸島持株会社によるIPOに従事しており、日本企業が香港またはNYSE/Nasdaqで上場する際にかかるケイマン諸島持株会社ストラクチャーを採用することがなぜ有益なのか、本稿でご説明したいと思います。...more

Conyers

Listing Japanese Companies Using Cayman Holding Companies

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Having recently completed the listing on Nasdaq of BLOOMZ, the Cayman Islands incorporated holding company of a Japanese audio production company, and being currently engaged to act on a number of IPOs of Cayman Islands...more

Mayer Brown

Hong Kong Court Clarifies the Application of Implied Terms in Employment Contracts

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The recent case of Yang Zhizhong v. Nomura International (Hong Kong) Limited helpfully clarifies the applicability of Implied Term of Trust and Confidence, the Braganza duty and the Anti-avoidance Term in the context of...more

White & Case LLP

Arbitration and Insolvency: A Comparative View from England & Wales, Singapore and Hong Kong

White & Case LLP on

If the agreement between a creditor and debtor refers disputes to arbitration, what limits should be placed on the creditor to pursue winding-up proceedings based on an unpaid debt under that agreement? Should a court simply...more

Latham & Watkins LLP

Key Regulatory Updates for Hong Kong Listed Companies - July/August 2024

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The updates include a consultation paper on a new phase of paper listing and a joint announcement on temporary modifications to requirements for specialist technology companies and de-SPAC transactions....more

Cooley LLP

HKEx Relaxes Listing Rules for Specialist Technology Companies and DeSPAC Transactions

Cooley LLP on

On August 23, 2024, the Securities and Futures Commission of Hong Kong and the Stock Exchange of Hong Kong Limited (HKEx) jointly announced temporary modifications to HKEx’s Listing Rules and guidance materials with respect...more

A&O Shearman

Sanction for scheme of arrangement refused by Hong Kong court: Key takeaways

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Notwithstanding that the requisite statutory majority was obtained in the relevant creditors’ scheme meeting, the Hong Kong Companies Court refused to sanction a scheme of arrangement propounded by a company that professed to...more

Latham & Watkins LLP

Chambers Global Practice Guides: International Arbitration 2024 - Hong Kong

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Arbitration is a popular mode of alternative dispute resolution in Hong Kong, used increasingly in cross-border commercial disputes and among international parties. In 2023, the Hong Kong International Arbitration Centre...more

Mayer Brown

Employer's Claim to Enforce Non-Compete and Non-Solicitation Obligations Dismissed by Hong Kong Court

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In the recent case of Moxie Communications Limited v. Lai Cheuk Lok [2024] HKDC 1323, an employer (the "Company") sought to enforce two post-termination restrictive covenants ("PTRs") against a former employee (the...more

Seyfarth Shaw LLP

HKEx’s Enhanced Climate Disclosure Requirements

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On 14 April 2024, the Stock Exchange of Hong Kong Limited published conclusions to its consultation on the enhancement of climate-related disclosures under its environmental, social, and governance (“ESG”) framework. With...more

Walkers

Less Appeals? Cayman Islands Court of Appeal clarifies the test for leave to appeal to the Privy Council

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In a recent case the Cayman Islands Court of Appeal has refused to grant leave to appeal to the Judicial Committee of the Privy Council in respect of an injunction ordered in support of a foreign arbitration....more

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