Legal Updates
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
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
Tanner De Witt’s family lawyers attend HKFLA talk on reciprocal enforcement of judgements between Hong Kong and the Mainland
On 15 June 2022, members of Tanner De Witt’s Family Law Department attended a talk on “Reciprocal Recognition and Enforcement of Mainland and Hong Kong Judgments in Matrimonial and Family Cases” organised by the Hong Kong Family Law Association (“HKFLA”). The talk was presented by…Read More
Legal update: Review and public consultation on crowdfunding in 2022
In this snapshot legal update, we report that on 25 May 2022, in a written reply by Mr. Christopher Hui, the Secretary for Financial Services and the Treasury, to Legislative Council questions on crowdfunding, Mr. Hui confirmed that the Hong Kong Government is reviewing the…Read More
Legal update: Amendments to Employment Ordinance relating to sickness leave and vaccination requests take effect today
The Hong Kong Legislative Council had passed the Employment (Amendment) Bill 2022 on 15 June 2022. The above Bill is gazetted today and becomes the Employment (Amendment) Ordinance 2022 (the “EAO”)which takes effect immediately. The EAO does not have a retrospective effect. In short, the…Read More
Legal update: SFC warns of risks associated with NFTs
In this snapshot legal update, we report that on 6 June 2022, the SFC issued a warning regarding risks associated with investing in non-fungible tokens (NFTs). The SFC noted that NFTs have risks that are similar to other virtual assets. These include Illiquid secondary markets,…Read More
Seven things directors should keep in mind as the company circles insolvency: the view from Hong Kong
The impact upon the economy as a result of COVID-19 sees no signs of abatement in the near-term and not a single sector of industry has been spared. Economic data shows that GDP declines in real terms, along with private expenditure. Perhaps some of the…Read More
Legal update: MPF offsetting arrangement relating to statutory severance and long service payments to be abolished
The Hong Kong Legislative Council has passed the Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 with its third reading given on 9 June 2022. Pursuant to the Bill, the existing arrangement under which employers may elect to offset any statutory severance/ long…Read More
Legal update: New recommended model clauses for cross-border transfer of personal data
In this snapshot legal update, we report that on 12 May 2022 the Privacy Commissioner for Personal Data (“PCPD”) published new guidance on recommended model contractual clauses for cross-border transfers of personal data (“Model Contractual Clauses Guidance”). This supplements prior guidance published by the PCPD…Read More
Troy Greig promoted to Partner to further boost Tanner De Witt’s Restructuring and Insolvency Practice
Tanner De Witt is pleased to announce the appointment of restructuring and insolvency lawyer Troy Greig as a Partner of the firm. Troy remarks: “I am incredibly grateful to the Partners and staff for their continuing support; to be afforded this opportunity with TDW is an…Read More
Another Reason to have a Will – Inter Vivos Gift
It is not uncommon for a parent to transfer properties and assets to their children as an advancement or a gift on the marriage of the children during their lifetime. However, if subsequently the parent dies intestate with only surviving children, the distribution of the…Read More
Hong Kong Court sets aside ex parte order to enforce Mainland Chinese arbitral award on the grounds of material non-disclosure but re-grants order for enforcement on an inter partes basis
Summary In Lin Chien Hsiung v Lin Hsiu Fen[1], the Hong Kong Court of First Instance (“CFI”): (a) set aside an ex parte order for enforcement of an arbitral award (the “Award”)issued by Shanghai Arbitration Commission ( “SAC”); but (b) subsequently exercised its discretion to…Read More