Term Sheets for Investment

1. What is a Term Sheet? A Term Sheet is a summary of the business, finance and legal terms that will apply to an investment round. Usually it is a not a legally binding document, except for a few provisions such as confidentiality, costs or…Read More

08Jul2022

Legal update: Review and public consultation on cybersecurity law in 2022

In this snapshot legal update, we report that on 25 May 2022, in a written reply by Mr. Alfred Sit, the Secretary for Innovation and Technology, to Legislative Council questions on cybersecurity standards in Hong Kong, Mr. Sit confirmed that the Hong Kong Government is…Read More

07Jul2022

You Only Liquidate Twice

Can a winding-up petition be presented when a company is being wounded up voluntarily? The relevant law (the Companies Winding Up and Miscellaneous Provisions Ordinance) states clearly that the winding up of a company shall not bar the right of any creditor (or contributory) to…Read More

06Jul2022

The new licensing regime for Virtual Asset Service Providers: The Amendment Bill

The long-awaited Virtual Asset Service Providers (“VASP”) licence regime is coming closer with the Hong Kong government gazetting the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 on 24 June 2022 (“Bill”). We reported on the key points of the consultation and the conclusion (collectively,…Read More