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Legal Updates
Stay of Play: Winding-Up v. Arbitration (Again)
The recent Hong Kong Court of First Instance decision of Re Shandong Chenming Paper Holdings Limited marks another intersection between the public domain of insolvency and the private realm of arbitration. In this and previous decisions, the Hong Kong courts have grappled with the issue…Read More
Will the Real Bondholder Please Stand Up? Unravelling the Locus Standi of Global Note Investors in Winding-Up Petitions
Introduction In a landmark decision issued in July, Re Leading Holdings Group Limited [2023] HKCFI 1770, the Hong Kong Courts addressed, for the first time, the right of an investor of a global note to present a winding-up petition as a contingent creditor. The Case…Read More
Consultation on proposed acceptance of commitments from Foodpanda and Deliveroo
On 1 June 2023, the Competition Commission commenced a consultation on its proposal to accept legally binding commitments (“Proposed Commitments”) from two leading online food delivery platforms in Hong Kong, Foodpanda and Deliveroo (“Platforms”). The Competition Commission conducted an investigation into the respective agreements between…Read More
Recent Changes to Hong Kong Bankruptcy Laws; a win for creditors and the environment
The Government of Hong Kong continues its push towards favouring digitisation over using hardcopy documents. The new changes to local bankruptcy laws allows: (1) electronic service of statutory demands; (2) using electronic bundles and skeletons for winding-up and bankruptcy applications; and (3) allowing electronic submission…Read More
Legal Update: PCPD investigation report on credit reference agency data subject complaint
In this snapshot legal update, the Office of the Privacy Commissioner for Personal Data (“PCPD”) published an investigation report on 1 June 2023 concerning the TE Credit Reference System, developed by Softmedia Technology Company Limited (“Softmedia”) in January 2016. Softmedia was not a credit reference…Read More
Divorce Proceedings and Your Business Part 2
In our previous article, we explored the confidential nature of divorce proceedings; the legal framework of protection of confidentiality over documents and information disclosed in divorce proceedings; and remedies available from the Court if you discovered that your spouse has obtained your confidential information without…Read More
Divorce Proceedings and Your Business Part 1
Parties to divorce proceedings owe an ongoing duty to the Court to give full and frank financial disclosure. If you are the sole proprietor or a substantial shareholder of your private company, will the company’s assets be treated as your assets? Will you have to…Read More
Legal Update: Privacy considerations for online shopping platforms
In June 2023, the Office of the Privacy Commissioner for Personal Data (“PCPD”) published a report (“Report”) on the privacy settings of ten common online shopping platforms in Hong Kong, including Baby Kingdom (“BKmall”), Carousell, eBay, Fortress, HKTVmall, JD.com, PlayStation App, Price.com.hk, Samsung and Taobao…Read More
VATP regulation in Hong Kong: The regulatory perimeter
It is possible to apply to the Securities and Futures Commission (SFC) in Hong Kong to obtain a licence to engage in activities relating to virtual assets. However, not all virtual asset services are regulated and require a licence from the SFC. So, the key…Read More
Consultation for a new re-domiciliation regime for non-Hong Kong companies
The Financial Services and the Treasury Bureau (“FSTB”) published a public consultation in March 2023 on proposals relating to the introduction of a new company re-domiciliation regime in Hong Kong (“New Regime”). The New Regime follows the Hong Kong government’s earlier regime to implement user-friendly…Read More
High Court holding that a foreign plaintiff – with no assets or presence within the Hong Kong jurisdiction – has “a high probability of success” for the purpose of defeating a claim for security for costs
On 16 May 2023, The Honourable Mr Justice Wilson Chan handed down a written decision dismissing Grand Network Technology Limited’s (“GNT”) appeal against the dismissal of its application or security for costs against a foreign plaintiff XY, LLC in XY, LLC v Jesse Zhu (also…Read More
VATP regulation in Hong Kong: The journey so far
Hong Kong is a virtual asset hub, with a number of businesses operating in and from Hong Kong or targeting the Hong Kong market. In the first of a series of articles, Pádraig Walsh from the Fintech practice group of Tanner De Witt reviews the…Read More