Hong Kong has officially published a Bill that would allow lawyers to agree
outcome-based fees for arbitration work in the territory.
If, as expected, the Bill passes into law later this year, it
will allow lawyers in and outside Hong Kong to agree fees based on
their clients' success in the arbitration. This is a sea-change
for a jurisdiction that, until now, has prohibited such fees.
The Bill is the next stage in a process of reforming Hong
Kong's laws and professional conduct rules that began with a
public consultation chaired by Herbert Smith Freehills' Kathryn Sanger and Briana Young.
Under the proposed reforms, which enjoy widespread public
backing, parties would benefit from a broad range of fee options,
including:
