Contract

Herbert Smith Freehills sponsors and contributes chapters to the recently published First Edition of Getting the Deal Through – Financial Services Litigation 2016

In the light of the global growth of litigation in the financial sector following the financial crisis, Herbert Smith Freehills has sponsored 'Getting The Deal Through' for the launch of the first edition of the guide to Financial Services Litigation … Continue reading

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Filed under Announcements, Contract, Financial Services Regulation, Hong Kong

Hong Kong Court rules in favour of investors in mis-selling claim: a departure from the recent trend

Recently, the Hong Kong Court of First Instance handed down its judgment in relation to a mis-selling claim against a bank, ruling in favour of the plaintiff investors. This departs from the trend in respect of post-financial crisis mis-selling claims … Continue reading

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Filed under Contract, Financial Services Regulation, Hong Kong

Hong Kong Court of Appeal takes a practical view on the penalties rule upholding a liquidated damages clause

In the recent case of Brio Electronic Commerce Limited v Tradelink Electronic Commerce Limited CACV 271/2013, the Hong Kong Court of Appeal (CA) held that a clause in the contract setting a sum of HK$5 million as liquidated damages in … Continue reading

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Filed under Contract, Hong Kong

Hong Kong: Court of First Instance holds that litigation commenced in breach of a company’s articles of association is liable to be struck out

In Yifung Developments Limited v Ricky Liu Chi Keung & others (HCA 1341/2014), the Court of First Instance held that where a company fails to comply with relevant provisions in its articles of association regarding the commencement of litigation, the … Continue reading

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Filed under Contract, Hong Kong

UK Supreme Court rewrites English law rule on penalties whilst Hong Kong (for the moment at least) still continues to follow the traditional test

In a judgment handed down on 4 November, the UK Supreme Court has in effect re-written the rule on contractual penalties in England & Wales, holding that the underlying rationale of the rule in English law has been misunderstood and … Continue reading

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Filed under Contract, Hong Kong

Hong Kong court dismisses investor’s counterclaim against bank for mis-selling of financial products

The Hong Kong Court of First Instance handed down its judgment in DBS Bank (Hong Kong) Limited v Sit Pan Jit (HCA 382/2009) on 2 April 2015. It is the most recent decision in a string of cases that have … Continue reading

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Filed under Contract, Financial Services Regulation, Hong Kong

New class action law in Thailand

The Thai Civil Procedure Code has been amended to allow for class action suits to be brought by large groups of plaintiffs for breach of civil wrongs, including breach of tort, breach of contract and breach of labour rights. The … Continue reading

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Filed under Class actions, Contract, Employment, South East Asia

An exercise in restraint: Singapore Court of Appeal confirms courts will give effect to agreements limiting the circumstances in which a contractor can restrain a call on performance bonds

The Singapore Court of Appeal (the “CoA“) recently delivered its judgment in CKR Contract Services Pte Ltd v Asplenium Land Pte Ltd and Another [2015] SGCA 24. In a landmark ruling, the CoA found that where parties to a construction … Continue reading

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Filed under Contract, South East Asia

English Commercial Court rules that an unsigned agreement can still bind the parties

The English Commercial Court has ruled that a party had accepted the terms of an agreement by its conduct, even though it had not signed the agreement and the agreement purported to require the signatures of both parties to take … Continue reading

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Filed under Contract

Hong Kong court dismisses investor’s counterclaim against bank for mis-selling of financial products

The Court of First Instance has recently handed down its judgment in DBS Bank (Hong Kong) Limited v Sit Pan Jit (HCA 382/2009).  This case concerns a claim by DBS Bank (Hong Kong) Limited (DBS) against its former customer, Sit … Continue reading

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Filed under Contract, Financial Services Regulation, Hong Kong