Good faith in bad times

    Can a good faith obligation under PRC law preclude a party from bringing a winding up petition in Hong Kong? A recent Hong Kong Court of First Instance suggests not. In Harbor Prosper (HK) Investments Ltd v. Elegant Profit (Hong Kong) Ltd [2020] HKCFI 2261, the respondent to a winding up petition argued that it … Read more

    HONG KONG: RECOVERING BONUSES FROM EMPLOYEES – PART 2

    In a previous article we discussed circumstances where an employer may seek damages against an employee who has engaged in serious misconduct or been seriously negligent at work. In the recent case of Xu Yi Jun v GF Capital (Hong Kong) Ltd [2020] HKCA 663, the Court of Appeal considered whether it is permissible for … Read more

    English Court of Appeal considers application of “SAAMCO” principle in context of auditor’s negligence case

    The English Court of Appeal has held that, where an auditor negligently failed to detect management’s dishonest concealment of the claimant’s insolvency, it was liable for the losses suffered by the claimant in continuing to conduct its loss-making business: Assetco Plc v Grant Thornton UK LLP [2020] EWCA Civ 1151. While the decision recognises that … Read more

    HERBERT SMITH FREEHILLS UPDATES ESSENTIAL GUIDE TO DISPUTES CLAUSES IN CHINA CONTRACTS

    Herbert Smith Freehills has launched the 8th edition of its guide, “Dispute resolution and governing law clauses for China-related commercial contracts‎”. Better known as “The Dragon Book“, this practical guide explains how Mainland Chinese law affects parties’ choice of law and dispute resolution in China-related contracts.‎ Join us for a launch webinar on Wednesday 9 … Read more

    New guide to restructuring and insolvency in Mainland China

    Restructuring and insolvency in China is evolving and investors must stay ahead of the latest developments. Our new guide, The Basics of Restructuring and Insolvency Law in Mainland China, provides an essential roadmap for both investors and practitioners. While offshore stakeholders have historically been cautious in engaging in onshore insolvency processes, recent developments demand a … Read more

    Hong Kong court allows witness testimony by video conferencing amid COVID-19

    The Hong Kong High Court (the “Court”) allowed an urgent application by the defendant for him and his wife to give evidence in trial by videoconference (“VCF”) (the “Application”) in the recent case of Au Yeung Pui Chun v Cheng Wing Sang [2020] HKCFI 2101 (handed down on 10 August 2020). The Application was brought … Read more