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Legal update: Recent developments in respect of unfair preference claims re: HCCW 755/2005 – Sweetmart Garment Works Limited (in Liquidation)
Introduction An unfair preference claim is (in theory) a powerful tool for liquidators to recover assets of the company when a creditor’s position has been unfairly improved by the company prior to its winding up. However, in practice the tool has rarely been used, and…Read More
Legal update: High Court clarifies remuneration of provisional liquidators
This update considers recent cases that clarify the statutory structure applying to a provisional liquidator’s remuneration. In particular, the cases illustrate the proper construction of Sections 194 and 196 of the Companies Ordinance and demonstrate how the application of the sections has evolved. Background Section…Read More
Legal update: Is an IP audit worth US$154 Million?
Mention ‘IP audit’ and many managers wonder if their company needs one. Is it really necessary? How much will an audit cost? Will it tie up human and financial resources? What benefits will I gain from it? A recent news article illustrates the importance of…Read More
Legal update: How to do business in China
There are various ways for a foreign (including Hong Kong) company or business to set up a presence in mainland China. A basic presence can be established in China though a representative office. However, a representative office may not engage in direct business (profit-making) operations…Read More
Legal update: Banking Matters – Geared Funds
The Henley Group has never recommended geared investment products to its clients but we often come across individuals that do have such products. This article looks at why more and more investors with such products are coming to realise that they may have misunderstood the…Read More
Legal update: Legal and Workplace Implications of Avian Influenza
Hong Kong has already experienced Severe Acute Respiratory Syndrome (SARS) during which there were 898 cases and 179 deaths. The insurance industry paid out over HK$105.28M in SARS related claims, the largest category of payments since Typhoon York struck in September 1999. Many believe there…Read More
Legal update: Are Hong Kong’s Tenants Being Left Out in the Cold?
Post-SARS Hong Kong is experiencing a revival in the residential property market, with many people taking the plunge and buying their first apartment. However, for a large majority of the population, particularly the expatriate community, renting a flat is the most practical option. The rights…Read More
Legal Update: A Practical Guide to Construction Insurance Claims
Introduction The basic concept of construction insurance is simple. Insurance transfers the risk of defined unforeseen events from the contractor to its insurers. However, a combination of poor drafting, a failure to ensure that the insurance contract reflects the construction contract and an increasingly complex…Read More
Legal update: Leading case of negligence by an investment adviser sets standard of care
Field v Barber Asia Last week the Hong Kong Court of Appeal dismissed an appeal by Barber Asia Limited, an SFC-licensed professional investment advisor, to try to overturn an earlier Judgment where Barber Asia were found to have been negligent when advising an investor, Ms…Read More
