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Results: 1-10 of 27

SFC's attempt to obtain final freezing orders against offshore hedge fund's asset fails
  • Clifford Chance LLP
  • Hong Kong
  • June 24 2011

Just over two weeks ago, we reported that Hong Kong's securities regulator, the Securities and Futures Commission (SFC) had argued in Hong Kong's High Court that the SFC has a freestanding and broad power when dealing with market misconduct offences to obtain final orders from the High Court freezing the assets of a New York-based hedge fund, Tiger Asia Management LLC (Tiger Asia), worth HK$38.5 million, without the SFC first having brought either civil proceedings before the Market Misconduct Tribunal (MMT) or criminal proceedings


Shenanigans in Shangri-La? Hong Kong courts refuse to enforce mainland China arbitral award
  • Clifford Chance LLP
  • Hong Kong
  • April 29 2011

In a recent decision the Hong Kong Court of First Instance refused to enforce a mainland arbitral award on public policy grounds


Securities and Futures Appeal Tribunal - landmark court of appeal decision
  • Clifford Chance LLP
  • Hong Kong
  • June 16 2011

In a landmark decision, the Court of Appeal unanimously overturned the practice that the Securities and Futures Appeal Tribunal (the SFAT) has adopted since 2003 in only proceeding on the basis that it has a limited role in reviewing Securities and Futures Commission (the SFC) decisions which are appealed to the SFAT


Two years on from the civil justice reform: reducing delay in litigation and facilitating out-of-court settlements
  • Clifford Chance LLP
  • Hong Kong
  • May 9 2011

The 2nd of April 2011 marked the two year anniversary of the substantial statutory reform to the practice and procedure of the Hong Kong Court system: the so-called "Civil Justice Reform" (CJR


SFAT awards costs against the SFC
  • Clifford Chance LLP
  • Hong Kong
  • March 29 2011

In a recent decision by the Securities and Futures Appeal Tribunal (SFAT) in respect of an application for costs, SFAT No. 2 of 2010, the SFAT has determined that the applicant should be compensated by an award of costs in his favour against the Securities and Futures Commission (SFC), where the SFAT found, on an application for a review of the penalty (not findings of misconduct) that the SFC's proposed penalty was manifestly excessive, and the application was therefore successful


Hong Kong Court of Final Appeal confirms non-taxability of unrealised gains in trading stock
  • Clifford Chance LLP
  • Hong Kong
  • November 22 2013

Profits tax in Hong Kong under the relevant tax statute, the Inland Revenue Ordinance (the Ordinance), is in general imposed on Hong Kong sourced


Hong Kong High Court confirms the effectiveness of non-reliance clauses in bank-customer contracts
  • Clifford Chance LLP
  • Hong Kong
  • April 24 2015

The Hong Kong High Court recently handed down its reasons for decision dismissing a customer's mis-selling claim against DBS in respect of the sale


Landmark UK Supreme Court decision on penalties - no change in Hong Kong (yet)
  • Clifford Chance LLP
  • Hong Kong, United Kingdom
  • November 19 2015

The UK Supreme Court has confirmed that the centuries-old doctrine of penalties still has a place in the modern commercial world of contracts, in


Grande Holdings Ltd. - is an amount due under a complex derivatives arrangement a liquidated sum?
  • Clifford Chance LLP
  • Hong Kong
  • November 27 2015

In its recent decision in the winding-up of Grande Holdings Ltd, the Hong Kong Court of Appeal unanimously held that an amount due under a complex


A safe haven from which to plan foreign bribes: the lack of extra-territoriality of Hong Kong's anti-bribery laws
  • Clifford Chance LLP
  • Hong Kong
  • August 31 2014

The Hong Kong Court of Final Appeal ("CFA") has confirmed that Hong Kong's much feted anti-graft laws do not apply to conspiracies made in Hong Kong