Hong Kong

Recent Articles

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  29/07/2024

  Hong Kong

  Avoidance rights in Hong Kong

  Hong Kong is a common law jurisdiction, and its legal system is based on English law. Following Hong Kong’s handover to China on 1 July 1997, the Basic Law of Hong Kong is the constitutional document of the Hong Kong Special Administrative Region. Article 8 of the Basic Law provides that: “laws previously in force in Hong Kong, that is, the common law, rules of equity, ordinances, subordinate legislation and customary law shall be maintained, except for any that contravene [the Basic Law], and subject to any amendment by the legislature of the Hong Kong Special Administrative Region.”General...

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  26/07/2024

  International

  EU AI Act – Focus on Enforcement: the EU governance structure

  On 1 August 2024, the Regulation laying down harmonised rules on Artificial Intelligence (AI Act) will enter into force. As a European regulation, the AI Act will apply directly in all 27 EU member states and is intended to make a significant contribution to achieving the European digital strategy (A Europe fit for the digital age). In this, the second article in our series on the implementation of the AI Act, we provide an overview of the European AI governance structure. Understanding this structure is important to understand the roles of the administrative bodies that will have oversight...

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  25/07/2024

  International

  EU anti-dumping investigations of Chinese glyoxylic acid imports

  On 25 July 2024, the EU opened an anti-dumping investigation concerning EU imports of glyoxylic acid originating in the People’s Republic of China, which could lead to substantial anti-dumping duties on future imports.The product under investigation for alleged dumping is glyoxylic acid (Chemical Abstracts Service (CAS) Number 298-12-4), of a purity of at least 95 % by dry weight, whether in solid form or as an aqueous solution with a concentration by weight higher than 40 % thereof.The product under investigation is currently classified under CN code ex 2918 30 00 (TARIC code 2918...

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  23/07/2024

  International

  The role of arbitrators in the settlement process

  In any dispute, parties are free to settle at any time. In order to avoid the time, cost and risk associated with pursuing or defending arbitration proceedings to their conclusion, it is generally in the best interests of both parties to achieve settlement.  But what role, if any, does a tribunal play in this process? The CMS arbitration team analysed the rules of 29 arbitral institutions to investigate this question and explored what impact the lack of mandatory “settlement facilitation” provisions in arbitral rules may have on the prospects of parties reaching settlement.This...

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  22/07/2024

  Australia and Southeast Asia

  Hong Kong’s incoming Security of Payment Regime

  Security of payment legislation to address improper payment practices in the Hong Kong construction industry is a step closer to implementation with the Construction Industry Security of Payment Bill (the “SOP Bill”) being gazetted on 17 May 2024 and introduced to the Legislative Council for its first reading on 29 May 2024. The SOP Bill has been developed to meet the specific needs of the Hong Kong construction industry. However, in concept it is broadly similar to established security of payment legislation that has been in effect for some years in other jurisdictions including...

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  15/07/2024

  International

  CMS European Private Equity Study 2024

  We are pleased to share with you the 2024 edition of the CMS European Private Equity Study, a comprehensive analysis of hundreds of private equity deals CMS advised on across Europe in 2023 and previous years.Here are a few of the key findings:Deal activity remained stable despite economic challenges.New investments accounted for 69% of PE deals analysed; 50% were add-on acquisitions.TMT led sector activity at 24%, followed by Life Sciences and Consumer Products at 15% each.Earn-out provisions declined but stayed above pre-pandemic levels.ESG due diligence was conducted in 47% of PE deals.Arbitration...

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