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Legal Updates
Liquidators do not require Court Approval for Litigation Funding Agreements
Re Patrick Cowley and Lui Yee Man, Joint and Several Liquidators of the Company, is another welcome decision of the Hong Kong Companies Court supporting third-party funding in the insolvency context, write Robin Darton of Tanner De Witt and James Wood, Barrister-at-law. Background On 27…Read More
Key project team members for a Security Token Offering
Security token offerings (“STO”) are a next-generation financing model that combine the benefits of blockchain technology with traditional fund raising. As with any fundraising exercise, conducting an STO can be stressful. The stress is increased as the novelty of STOs makes the process more opaque. …Read More
Section 183 notice: your right to silence may be put on hold when the SFC calls
Right to silence is a fundamental legal right that has been recognized in Hong Kong as well as in many of the world’s legal systems. However, such a right of an individual is not guaranteed in all circumstances and it has often become a trap…Read More
The Court-Free Amalgamation Process in Hong Kong
An amalgamation is a legal process under which the assets and liabilities of two or more companies incorporated in Hong Kong merge and are brought under one of the original companies. Tim Drew and Herman Pang from the Corporate and Commercial practice group of Tanner…Read More
Another obiter judgment, what is the status of the “Lasmos” approach now?
On 12 September 2019, we discussed the importance of the Court of Appeal’s judgment in But Ka Chon v Interactive Brokers LLC[1] (“But Ka Chon”). In But Ka Chon, the Court of Appeal made obiter observations moderating the Lasmos approach[2] in that a debtor would not be able to simply deny a…Read More
Hong Kong Wage Subsidy Update 4 –Employment Support Scheme (ESS) Application details announced
UPDATE 5: 12 June 2020 – Hong Kong Wage Subsidy Update 5 – Reminder: Deadline to apply for 1st tranche of Employment Support Scheme (ESS) closes on Sunday, 14 June 2020 at 23:59 HKT The Hong Kong Government has announced the application process for the…Read More
STOs: The What, Why, Who and How
Contents Part 1: What are security tokens? What is a token? A token is a digital asset that represents rights in respect of an application built on a blockchain protocol. The owner of the token has the ability to access, use, receive the benefit of…Read More
Hong Kong Wage Subsidy Update 3 – HK Government releases further details on application process for Employment Support Scheme (ESS)
UPDATE 5: 12 June 2020 – Hong Kong Wage Subsidy Update 5 – Reminder: Deadline to apply for 1st tranche of Employment Support Scheme (ESS) closes on Sunday, 14 June 2020 at 23:59 HKT UPDATE 4: 19 May 2020 – Hong Kong Wage Subsidy Update…Read More
Power of Chairman at General Meeting to Disallow a Member’s Vote
The general rule under the Companies Ordinance (Cap. 622)[1] subject to the provisions of a company’s articles is that every member present in person or by proxy is entitled to vote at a general meeting. This general rule was tested in the case of Kwok…Read More
Mergers and Acquisition – Deposit at the MOU Stage
In the context of mergers and acquisitions, it is not uncommon for the intended seller to ask for a deposit or other amount to be paid under a memorandum of understanding (“MOU”). The MOU, much of which is usually not binding, will also provide for…Read More
Fortress or Sandcastle: Cybersecurity risks of working from home
COVID19 has led to more and more people working from home. This trend will continue in the future. Homes are not made of bricks and mortar in cybersecurity terms. Cybercriminals are finding it easier to huff and puff, and blow these straw houses down. Pádraig…Read More
Recent UK Supreme Court’s decisions touching on key elements of vicarious liability
Introduction Vicarious liability is a long-established legal principle which imposes liability on an employer for the wrongful act committed by its employee against another person during the course of the employee’s employment. The rationale of such legal principle aims at a fairer allocation of risk…Read More
