Enforcement

HONG KONG HIGH COURT PROVIDES GUIDANCE ON THE ENFORCEMENT OF MAINLAND JUDGMENTS IN HONG KONG

The Hong Kong Court of First Instance (“CFI“) recently handed down judgment in Export-Import Bank of China v Taifeng Textile Group Co. Ltd and Another [2018] HKCFI 1840, which concerns the enforcement of a Mainland judgment in Hong Kong. The … Continue reading

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Filed under China, Enforcement, Hong Kong, Interim applications

Delhi High Court agrees to enforce CIETAC arbitral award against Indian company despite CIETAC split

In its decision of 4 July 2018, the Delhi High Court (“Court“) has agreed to enforce a China International Economic and Trade Arbitration Commission (CIETAC) award against an Indian company, despite the award debtor’s arguments that the dispute should have … Continue reading

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Filed under Asia, Enforcement, Hong Kong & China, India, Institutions

New convention on the enforcement of mediation settlement agreements approved

On 26 June, at the 51st session of UNCITRAL, final drafts for a Convention on the Enforcement of Mediation Settlements and corresponding Model Law were approved. This paves the way for adoption by UNCITRAL’s Commission later this year. It is … Continue reading

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Filed under ADR, Enforcement, Mediation (General), Singapore

Chinese Court recognises a US commercial judgment for the first time based on principle of reciprocity

On 30 June 2017, the Wuhan Intermediate People’s Court (Wuhan Court) handed down a decision recognising and enforcing a civil judgment of the Los Angeles Superior Court in California, USA (the “Wuhan Decision“) based on the principle of reciprocity. This … Continue reading

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Filed under China, Enforcement, Jurisdiction

Recent developments in India-related international arbitration

Herbert Smith Freehills has issued the latest edition of its Indian international arbitration e-bulletin. In this issue we will consider Indian court decisions, including the arbitrability of allegations of fraud and non-arbitrability of trust disputes by the Supreme Court. We … Continue reading

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Filed under Arbitrability, Asia, Enforcement, India, Institutions, News

SFC and HKMA continue to prioritise AML/CFT compliance with six new disciplinary actions

Since early March 2017, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have collectively taken disciplinary actions against five regulated entities and an individual relating to breaches of anti-money laundering (AML) and counter financing of … Continue reading

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Filed under Enforcement, Financial Services Regulation, Hong Kong

PRC court recognises and enforces a Singapore High Court judgment based on reciprocity principle

The Nanjing Intermediate People's Court in Jiangsu Province, China ("Nanjing Court") recently issued a ruling recognising and enforcing a default judgment granted by the High Court of Singapore ("Singapore Judgment") based on the reciprocity principle. Although permitted under the PRC … Continue reading

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Filed under China, Enforcement

Hong Kong SFC confirms enforcement priorities and approach following strategic review

In its recently relaunched Enforcement Reporter newsletter (see first issue), the Securities and Futures Commission (SFC) has confirmed that corporate fraud and misfeasance, anti-money laundering, Growth Enterprise Market companies and multiple intra-group failings are issues high on its agenda and … Continue reading

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Filed under China, Corporate, Enforcement, Financial Services Regulation, Hong Kong, Investigation and compliance

Tax enforcement update

Jurisdictions and tax enforcement authorities around the world have been prioritizing the enforcement of tax laws in a bid to increase tax revenue and address public concern about tax evasion. There have been suggestions that China will be hiring 500,000 additional … Continue reading

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Filed under Enforcement, Tax

Hong Kong Government announces consultation on Hague Convention of the Recognition and Enforcement of Foreign Judgments

The Department of Justice in Hong Kong has this week released a Consultation Paper on the 2016 Preliminary Draft Convention on the Recognition and Enforcement of Foreign Judgments (the "Draft Convention"). The Draft Convention sets out criteria for the Courts … Continue reading

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Filed under Enforcement, Hong Kong, Jurisdiction