The Legal 500

Legal Developments in Hong Kong

• Hong Kong Enacts Competition Law

  After years of debate, on 14 June 2012 and in its last days of office, the Legislative Council finally enacted Hong Kong’s first cross- sector competition law.
  - Hogan Lovells

• The Hong Kong Personal Data (Privacy) Ordinance Has Been Amended: Are Your Data Protection Practices

  The Personal Data (Privacy) Amendment Ordinance (the "Amendment Ordinance") was passed on 27 June 2012.
  - Hogan Lovells

• MOFCOM Gets Serious About Unreported M&A Transactions

  The Ministry of Commerce of the People's Republic of China (“MOFCOM”) passed the Provisional Measures on the Investigation and Handling of Concentrations between Business Operators which were Not Notified in accordance with the Law (the “Provisional Measures”) on 30 December 2011, and uploaded them on its website on 5 January 2012.
  - Hogan Lovells

• China VIE structure for foreign investment under attack from multiple directions

  will it emerge (relatively) unscathed or is its very survival threatened?
  - Hogan Lovells

• LIABILITY FOR DIRECTORS OF LISTED COMPANIES – NOT JUST FOR FRAUD

  Article by Timothy Loh and Sherry Xiao
  - Timothy Loh, Solicitors

• Hedge fund euthanasia?

  Are the Courts sealing the fate of struggling hedge funds too early or should they be given further time to recover and realize their potential for investors? 
  - Harney Westwood & Riegels

• BVI Securities and Investment Business Bill 2010 receives its first reading

  The long-awaited Securities and Investment Business Bill, 2010 (commonly referred to as “SIBA”) received its first reading by the BVI House of Assembly on 18 March 2010. This follows public consultation in Summer 2009.
  - Harney Westwood & Riegels

• Cayman Investment Company Obtains Chapter 15 Protection in the United States

  The United States’ Bankruptcy Court for the District of Delaware has recognised the liquidation of a Cayman company, Saad Investments Finance Company (No5) Limited (“SIFCO5”) (an SPV established to operate as an investment company), as a “foreign main proceeding” under Chapter 15 of the United States’ Bankruptcy Code.
  - Harney Westwood & Riegels

• BVI to update Intellectual Property laws

  As the British Virgin Islands continues to play a vital role in facilitating global trade and investment, it turns its attention to helping its more than 60,000 new companies per year build a business environment where innovation can be a key economic driver. Towards this end, the BVI Financial Services Commission (the “FSC”), which is the public body with responsibility for, among other things, administering the intellectual property laws of the BVI, announced on 5 January 2010 the establishment of a Focus Group to review and revise the existing IP laws
  - Harney Westwood & Riegels

• BRITISH VIRGIN ISLANDS CORPORATE ARRANGEMENT SCHEMES

  With a global economic downturn in full swing, companies around the world are looking for ways to safeguard their future existence. The strategies employed to do so are numerous and varied but a number of companies have employed the use of corporate arrangement schemes entered into with their creditors, investors and other stakeholders as a way to refocus and preserve their business.
  - Harney Westwood & Riegels