As we usher in the new year, we are greeted once again with a host of new legal developments.
For starters, Hong Kong’s first cross-sector substantive competition law (Cap. 619) has recently taken full effect. As the new Ordinance is likely to have a significant impact on the legal and commercial landscape in Hong Kong, the January issue includes a competition feature that highlights key competition rules and other notable features of the Ordinance. This edition also includes a brief guide that outlines what you should do in the event the Commission shows up at your door to search your premises (ie, conducts a ‘dawn raid’).
Another issue making headlines is the Hong Kong Law Reform Commission’s Sub-committee’s Consultation Paper on Third Party Funding for Arbitration, which is examined in our arbitration feature. The Consultation Paper, which was published on 19 October 2015, sets out the Sub-committee’s views on Hong Kong’s current position on Third Party Funding for arbitration and the extent to which reform is needed. The Sub-committee welcomes views, comments and suggestions on any of the issues discussed in the Consultation Paper by the close of the Consultation Period on 18 January 2016.
The Yung Kee appeal has also garnered much attention as of late. As this case’s leading judgment, delivered jointly by Ma CJ and Lord Millet NPJ, is the first ever judgment by a final appellate court in the entire Commonwealth that deals directly with the question of jurisdiction to wind-up foreign companies on the just and equitable ground in a shareholders’ dispute, our insolvency article closely evaluates the court’s decision.
Also relevant, is our Legal Markets article that provides an overview of recruitment trends in 2015 and a prediction of what may come in 2016.