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Legal Updates
Can directors recover their legal fees from their own company?
Given the complexity of today’s corporate governance, the question of whether directors can be indemnified out of the assets of their company remains a complex issue. In a hectic world where decisions are made without the benefit of hindsight, directors can find themselves the subject…Read More
Expats and divorce in Hong Kong
Where to Divorce: Home or Hong Kong? Some families arrive in Hong Kong from overseas and enjoy the adventure of being in a new place, throwing themselves into new activities and meeting new friends. Others arrive and the changes they face crack what is already…Read More
Popping the question and sealing the deal: nuptial agreements since SPH
The Court of Final Appeal endorsed nuptial agreements in Hong Kong, in SPH v SA (2014) 17 HKCFAR 364, [2014] HKCFA 56. “Full weight” should now be given to a pre or post nuptial agreement, provided that it was not vitiated in some way, provided…Read More
Legal update: Home alone in Hong Kong
At what age can children stay at home without parental supervision? In Hong Kong there is no clear-cut rule identifying the age at which a minor child can remain in the home unsupervised. Asia Times reported in January 2018 that a mother was arrested after…Read More
Legal update: The New Open-Ended Fund Company Regime in Hong Kong
Introduction On 30 July 2018, the new Open-Ended Fund Company (“OFC”) regime came into operation which introduced the OFC as a new form of corporate vehicle in Hong Kong. The legal framework of this new OFC regime consists of the three main pieces of legislation:…Read More
New Arrangement for Application for Leave to Appeal in the Family Court
The Court of Appeal has made several suggestions to improve the processing time of filed appeals in the Family Court. This has resulted in the adoption of the New Arrangement for Application for Leave to Appeal in the Family Court (“NAAL”), which is summarised below:…Read More
Legal update: Magistrate acquitted a broker of illegal short selling on re-trial
Case background Mr Wong Hung who was licensed to carry on Type 1 regulated activity (dealing in securities) under the Securities and Futures Ordinance (Cap. 571) (“SFO”) was charged by way of summons on 20 counts of illegal short selling. The Securities and Futures Commission…Read More
Legal update: District Court and Small Claims Tribunal maximum claim values increased
Following a consultation launched by the Judiciary in August 2015, the Legislative Council passed a resolution on 27 June 2018 approving the proposed increases to the jurisdiction of the District Court and Small Claims Tribunal. The changes are slated to take effect from 3 December…Read More
Legal update: Ten myths about token sale regulation in Hong Kong
No part of the tech universe has a greater abundance of myths than the crypto space, and no part of the crypto space has a deeper black hole of urban legends than the weird and wonderful world of token sales. Here are some of the…Read More
Legal update: Court of Final Appeal’s answers on the issue of establishing a defence to indecent assaults on underage victims
In October 2017, we wrote about the magistracy appeal decision of香港特別行政區訴蔡偉麟 (HKSAR v Choi Wai Lun) (unreported HCMA 620/2016, 31 July 2017): Is a genuine belief that an underage victim is over 16 a defence to an indecent assault? On 9 May 2018, the Court of…Read More
What founders need to know about Employee Share Option Plans
ESOPs can be a case of damned if you do, damned if you don’t. Founders need an ESOP to build out and retain its team as the business grows. But dilution will often only affect the founders. That can feel like a turkey voting for…Read More
Legal update: Terms and Conditions: the importance of the fine print
If you are a business owner or operator, underestimating or simply ignoring the importance of the fine print is a common mistake. Irrespective of whether you operate a start-up or a long-established business, you should have in place some terms and conditions that are appropriate…Read More
