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

The new Singapore Convention: some practical issues to consider now

As has been well publicised, the new Singapore Convention seeks to establish a global enforcement regime for settlement agreements resulting from mediation in cross-border commercial disputes. Signed on 7 August 2019 by 46 countries, the Convention could feasibly be in operation as early as the first half of next year (it will enter into force … Read more

Hong Kong Competition Commission publishes decision in respect of the Code of Banking Practice

On 15 October, 2018, the Hong Kong Competition Commission (“Commission”) published a decision (“Decision”) finding that the Code of Banking Practice (“Code”) is not excluded from the application of the First Conduct Rule under the Competition Ordinance (“Ordinance”). The Decision was taken in response to an application for exemption under section 9 of the Ordinance made in respect of the Code (the “Application”). The Application was made in December 2017 by 14 institutions authorised under the Banking Ordinance (“AIs”). Although the Commission found that the Code is not excluded from the application of the First Conduct Rule, nevertheless, it states that it has no current intention to further investigate or pursue regulatory action in respect of the current version of the Code. Read more

Hong Kong Court reconciles jurisdiction and arbitration clauses to order s.20(1) stay

In Neo Intelligence Holdings Ltd v Giant Crown Industries Ltd HCA 1127/2017, the Hong Kong Court of First Instance held that an arbitration clause was not necessarily superseded by a clause in a supplemental agreement that conferred non-exclusive jurisdiction on the Hong Kong courts. While the two clauses did not sit “wholly happily” together, it … Read more

Herbert Smith Freehills updates essential guide to disputes clauses in China contracts

Herbert Smith Freehills has launched the latest edition of its practical guide, "Governing law and dispute resolution clauses for China-related contracts‎". Popularly known as 'The Dragon Book', the guide helps in-house lawyers negotiating China-related commercial contracts to understand the workings of Mainland Chinese law as it affects choice of law and other options for resolving … Read more


Chief Justice Sundaresh Menon: Adjudicator, advocate, or something in between? Coming to terms with the role of the party-appointed arbitrator The Herbert Smith Freehills-SMU Asian Arbitration Lecture Series was established in 2010 and was made possible by a term fund contribution by Herbert Smith Freehills LLP, Singapore. The objective of the Lecture Series is to … Read more

HSF’s Hong Kong office leads the way on Mediation

From our market leading research on how blue-chips are using ADR to our lead role in a recent landmark convention on “Shaping the Future of International Dispute Resolution” in London, Herbert Smith Freehills’ award winning global ADR practice has long been at the forefront of ADR developments and thought leadership. To mark the fifth anniversary … Read more