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Mayer Brown JSM Newsletter
This quarterly update (January to March 2013) highlights recent developments in Hong Kong capital markets practices.
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Mayer Brown JSM Legal Update
The Court of Final Appeal (CFA) has confirmed the Securities and Futures Commission (SFC) can obtain wide-ranging relief under section 213 of the Securities & Futures Ordinance (Cap 571) (SFO), including freezing injunctions, before and independent of any Market Misconduct Tribunal or criminal proceedings.
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Mayer Brown JSM Legal Update
The Court of Final Appeal (“CFA”) handed down its long-awaited decision in Fully Profit (Asia) Limited vs. The Secretary for Justice for and on behalf of the Director of Lands (FACV 17/2012) on 13 May 2013. The appellant Fully Profit owns a site at Nam Kok Road, Kowloon City, comprising five lots held under five separate virtually identical Government Leases, each of which contains a restriction that the owner cannot erect or allow to be erected more than one house on the lot. The CFA reversed the unanimous decision of the Court of Appeal and held that a 26-storey building straddling the five lots cannot be a “house” within the meaning of the word in the Government Leases.
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Mayer Brown JSM Legal Update
In The Joint and Several Liquidators of QQ Club Limited (in liquidation) v. Golden Year Limited (HCCW 245/2011, 9 April 2013) (QQ Club), the Court of First Instance held that a liquidator's costs in pursuing an avoidance claim are "fees and expenses properly incurred in preserving, realizing or getting in the assets", and are payable out of the company's assets in priority to all other payments prescribed in rule 179 of the Companies (Winding-up) Rules. In reaching this conclusion, the court distinguished the English Court of Appeal's decision in Lewis v. Commissioner of Inland Revenue and others [2001] 3 All ER 499 (Lewis v. IRC), which has attracted a considerable amount of criticism in England.
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Mayer Brown JSM has published its Guide to Doing Business in Myanmar (May 2013). The guide includes information of interest to foreign and local investors and explains various legal issues that may arise when doing business in Myanmar.
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“They do a great job – mostly because they have so much experience, they have the depth of resources to advise on anything.” - Chambers Asia Pacific 2013
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Mayer Brown JSM Legal Update
An update on the current situation of arbitration cases of China International Economic and Trade Arbitration Commission (CIETAC), CIETAC Shanghai Sub-Commission (CIETAC Shanghai) and CIETAC South-China Sub-Commission (CIETAC South-China) and some practical recommendations in handling such cases in light of the uncertainties.
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Mayer Brown JSM Legal Update
In a recent decision handed down by the High Court, Yau Tsz Hin v. Broadway Theatre Company Limited, HCPI 674 of 2010, the cinema successfully defended a 'slip and fall' claim lodged by its patron. The conduct of the defence focussed on the cinema having in place an adequate cleaning and inspection system. The High Court accepted this and held that the cinema had discharged its reasonable duty of care owed to its visitors.
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Legal Update
29 April 2013
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Mayer Brown JSM Legal Update
The Hong Kong Government has appointed Members of the Competition Commission on 26 April 2013, to take effect on 1 May 2013 for a period of three years.
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Legal Update
23 April 2013
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Mayer Brown JSM Legal Update
Last month, the Legislative Council Panel on Manpower reviewed and discussed a briefing paper submitted by the Labour and Welfare Bureau of the Labour Department. The paper proposes amendments to the Employment Ordinance which currently requires Labour Tribunal orders for re-instatement or re-engagement of an employee to be made with the consent of both parties.
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Legal Update
22 April 2013
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Mayer Brown JSM Legal Update
In a recent English Judgment concerning R (Prudential plc and another) v. Special Commissioner of Income Tax and another [2013] UKSC 1, the Supreme Court, by a five to two majority, held that Legal Advice Privilege (LAP) only applies to advice provided by qualified lawyers.
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Legal Update
19 April 2013
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Mayer Brown JSM Legal Update
The courts have recently handed down two separate tax decisions, both highlighting the need for vigilance from the taxpayer when managing its tax affairs.
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Legal Update
9 April 2013
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Mayer Brown JSM Legal Update
The comments from the Hong Kong Institute of Surveyors (HKIS) on the Consultation Paper on Adverse Possession, released by the Law Reform Commission, are summarised in this legal update.
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Mayer Brown JSM Newsletter
Asia's legal and human resources advisors are often required to function across multiple jurisdictions. Staying on top of employment-related legal developments is important but can be challenging.
To help keep you up to date, Mayer Brown JSM has produced the Asia Employment Law: Quarterly Review, an e-publication covering 15 jurisdictions in Asia. |
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Count on Mayer Brown JSM to provide you with a comprehensive guide to doing business in Hong Kong. The guide answers some of the most common questions raised by investors who are considering investing in Hong Kong, and outlines some of the main issues that should be considered in 2013.
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Legal Update
25 March 2013
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Mayer Brown JSM Legal Update
On 19 March 2013, the Legislative Council Panel on Manpower reviewed and discussed a briefing paper submitted by the Labour and Welfare Bureau of the Labour Department in November 2011.
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Legal Update
18 March 2013
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Mayer Brown JSM Legal Update
过去几年，有意在法国购买葡萄园的海外爱酒投资者的人数显著增加。本文试就五个议题进行扼要阐释，供准买家在购买之前考虑。
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Legal Update
15 March 2013
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Mayer Brown JSM Legal Update
Hong Kong Financial Reporting Standard (HKFRS) 10/International Financial Reporting Standard (IFRS) 10, entitled "Consolidated Financial Statements", became effective for annual periods commencing on or after 1 January 2013.
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Legal Update
14 March 2013
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Mayer Brown JSM Legal Update
On 6 March 2013, Myanmar's Parliament voted in favour of Myanmar becoming a signatory to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 ("the New York Convention").
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Legal Update
13 March 2013
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Mayer Brown JSM Legal Update
In the last few years there has been a marked increase in the number of wine-loving overseas investors seeking to purchase vineyards in France. This article serves as a primer on five issues that a would-be buyer should consider at the outset of such an acquisition.
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Legal Update
7 March 2013
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Mayer Brown JSM Legal Update
It is not uncommon for Hong Kong IPOs, especially in difficult market conditions, to invite cornerstone investors such as well-known institutions, sovereign wealth funds and celebrities to subscribe for shares under the placing tranche so as to enhance popularity and investors' confidence. The major benefit available to cornerstone investors is preferential placings - a guarantee that such investors will receive an allocation of shares regardless of the final offer price.
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News Release
4 March 2013
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Leading global law firm Mayer Brown has advised China Overseas Holdings on its £152m acquisition of 1 Finsbury Circus, London.
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Newsletter
27 February 2013
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Mayer Brown JSM Newsletter
本季报（涵盖2012年10月至12月）着重介绍香港资本市场近期的发展。
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Legal Update
25 February 2013
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Mayer Brown JSM Legal Update
A mandatory bid (or a mandatory general offer obligation) ("GO Obligation") will be triggered if a controlling block in a listed company ("Controlling Block") changes hands.
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Legal Update
22 February 2013
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Mayer Brown JSM Legal Update
The Financial Secretary of Hong Kong, Mr. John Tsang, announced today (22 February 2013) that further stamp duty measures will be implemented, all effective starting in the mid-night on 23 February 2013. This legal update highlights certain key aspects of those new measures.
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