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Legal Updates
Legal update: SFC warns of risks associated with NFTs
In this snapshot legal update, we report that on 6 June 2022, the SFC issued a warning regarding risks associated with investing in non-fungible tokens (NFTs). The SFC noted that NFTs have risks that are similar to other virtual assets. These include Illiquid secondary markets,…Read More
Seven things directors should keep in mind as the company circles insolvency: the view from Hong Kong
The impact upon the economy as a result of COVID-19 sees no signs of abatement in the near-term and not a single sector of industry has been spared. Economic data shows that GDP declines in real terms, along with private expenditure. Perhaps some of the…Read More
Legal update: MPF offsetting arrangement relating to statutory severance and long service payments to be abolished
The Hong Kong Legislative Council has passed the Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 with its third reading given on 9 June 2022. Pursuant to the Bill, the existing arrangement under which employers may elect to offset any statutory severance/ long…Read More
Legal update: New recommended model clauses for cross-border transfer of personal data
In this snapshot legal update, we report that on 12 May 2022 the Privacy Commissioner for Personal Data (“PCPD”) published new guidance on recommended model contractual clauses for cross-border transfers of personal data (“Model Contractual Clauses Guidance”). This supplements prior guidance published by the PCPD…Read More
Troy Greig promoted to Partner to further boost Tanner De Witt’s Restructuring and Insolvency Practice
Tanner De Witt is pleased to announce the appointment of restructuring and insolvency lawyer Troy Greig as a Partner of the firm. Troy remarks: “I am incredibly grateful to the Partners and staff for their continuing support; to be afforded this opportunity with TDW is an…Read More
Another Reason to have a Will – Inter Vivos Gift
It is not uncommon for a parent to transfer properties and assets to their children as an advancement or a gift on the marriage of the children during their lifetime. However, if subsequently the parent dies intestate with only surviving children, the distribution of the…Read More
Hong Kong Court sets aside ex parte order to enforce Mainland Chinese arbitral award on the grounds of material non-disclosure but re-grants order for enforcement on an inter partes basis
Summary In Lin Chien Hsiung v Lin Hsiu Fen[1], the Hong Kong Court of First Instance (“CFI”): (a) set aside an ex parte order for enforcement of an arbitral award (the “Award”)issued by Shanghai Arbitration Commission ( “SAC”); but (b) subsequently exercised its discretion to…Read More
Hong Kong Wage Subsidy Update – Overview of Employment Support Scheme 2022
The full details of the new round of the Employment Support Scheme (“ESS 2022”) have been announced by the Hong Kong Government. Under the ESS 2022, the eligible Employers may apply for wage subsidies in respect of the relevant employees during the subsidy period from…Read More
Data breach: Lessons from a recent investigation report in Hong Kong
Investigation reports from the Privacy Commissioner are spilled milk stories that serve as salutary reminders to the mortals among us that there but for the grace of God, go we. This came to the fore again in the investigation report published by the Office of…Read More
Executors’ Power over Administration of an Estate
Recent High Court case Lam Man Cheung v Lam Man Yin [2022] HKCFI 866 concerns a dispute between executors and a beneficiary of an estate. The beneficiary, who is entitled to 40% interest of a property, requested the executors to execute an assent to vest…Read More
Refinements of the new round of Employment Support Scheme
The HKSAR Government first announced a new round of Employment Support Scheme (the “ESS 2022”) on 18 March 2022. Having consulted the relevant stakeholders, the Government stated on 8 April 2022 that it will launch a ‘perfected version’ of the ESS 2022 by relaxing some…Read More
The end of the blame game in divorce in England and Wales, and what it means for Hong Kong
The Divorce, Dissolution and Separation Act (2020) (the “Act”) came into force on 6 April 2022 in England and Wales, allowing couples to divorce without assigning blame, or what is often called ‘no-fault divorce’. What it means Before this significant reform, one spouse had to…Read More
