Stevenson, Wong & Co. presented in Ningbo on succession planning and asset protection

On 29 November 2014, our China Business Development Officer (China) Ms. Connie Yeung was invited to deliver a presentation in Ningbo, China on wealth succession planning and asset protection for “Professional Development Program for Financial Elites and Continuing Education Activity for Associate Financial Planners in Ningbo”. The event was organized by Ningbo Training Platform For Modern Service Industry and Ningbo Society for Enterprise Cooperation and undertaken by Ningbo Academy of Financial Research and Ningbo Financial Planner Elite Club. Other topics covered in the program included the change in economy and innovations in the financial industry, legal issues and risk management in personal wealth and the key considerations of the selection of enterprise’s successor.

The public response of the event was overwhelming and the event was fully booked within a short period of time. Officers from the Ningbo Education Bureau and the Ningbo Financial Affairs Office expressed their gratitude to SW in their opening remarks at the event.

Please contact our Hank Lo for any enquiries or further information about this event.

Caribbean Island Nation names Robert DeNiro as envoy

The Government of Antigua and Barbuda has named Mr. Robert DeNiro, the American actor, as special economic envoy for the twin-island state. Mr. DeNiro and his Australian business partner have signed a memorandum to invest US$250 million in a luxury resort business which had closed down several years ago.

(Source: http://www.cbsnews.com/news/caribbean-island-nation-names-robert-deniro-as-envoy/)

Stevenson, Wong & Co. attended the One-Day Mediation Conference “Mediate Disputes to Enhance Harmony in doing Business between Hong Kong and China cum the 2nd Shanghai-Hong Kong Commercial Mediation Forum” in Hong Kong

On 27 November 2014, SW partner Mr. Eric Lui attended the One-Day Mediation Conference (the “Conference”) which was held at the Hong Kong Jockey Club organised by the Joint Mediation Helpline Office, the Hong Kong Mediation Council and the Shanghai Commercial Mediation Center (“SCMC”). The Conference was co-organised by the Hong Kong Mediation Centre, the Hong Kong Bar Association, the Law Society of Hong Kong, the Chartered Institute of Arbitrators (East Asia Branch), the Hong Kong Institute of Arbitrators, the Hong Kong Institute of Architects, the Hong Kong Institute of Surveyors, the Mediation Center of South China International Economic and Trade Arbitration Commission/Mediation Center of Shenzhen Court of International Arbitration and Guangdong, Hong Kong & Macau Mediation Alliance.

Mr. David Chen, partner of our associated AllBright Law Offices in Shanghai and managing partner of AllBright’s Hong Kong office at SW, delivered a remarkable opening speech at the Conference. Mr. Chen is also the Vice President of Shanghai Bar Association, Vice Director of Management Committee of Shanghai Commercial Mediation Center and Mediator of SCMC. Over 15 honourable speakers gave speeches at the Conference, including Mr. Rimsky Yuen, SC, JP, Secretary for Justice of the HKSAR, the Hon Mr. Justice Lam, V-P, Justice of Appeal of the Court of Appeal of the High Court and Mr. Antony Man, Chairman of the Joint Mediation Helpline Office.

The Conference was informative and topics discussed at the Conference included Hong Kong mediation, mediation in legal framework and commercial mediation, the frontiers of mediation development in Hong Kong, introduction to real estate and construction mediation and mediation in mainland China.

Please contact our Eric Lui for any enquiries or further information about this event.

Stevenson, Wong & Co. attended talk on “the Culture and Etiquette of Chinese Drinking” held by the Law Society of Hong Kong

SW partner Ms. Heidi Chui represented the Law Society of Hong Kong (the “Law Society”) and jointly hosted a talk on “The Culture and Etiquette of Chinese Drinking” on 27 November 2014 at the Law Society’s Clubhouse.

Doing business in Mainland China is becoming a trend, making the Chinese culture and socialising skills very important and valuable for business. The Member Benefit Committee of the Law Society invited Ms. Wendy Chou, Chief Instructor of WBP Business Mandarin HK Ltd to give a talk on Chinese dining culture and etiquette.

The talk explored five major aspects of Chinese dining culture and etiquette: (1) five habits of drinking; (2) table manners of drinking; (3) banquet etiquette; (4) culture and customs; and (5) proper words when drinking.

Please contact our Ms. Heidi Chui for any enquiries or further information about this event.

(Source of the photographs: Facebook page of WBP Business Mandarin HK Ltd. https://www.facebook.com/wbpbizmandarin/)

Stevenson, Wong & Co. assisted Orient Hongsheng Limited in its CNY900m bond issue on HKEx

SW assisted Orient Hongsheng Limited (the “Issuer”), a wholly-owned subsidiary of Orient Finance Holdings (Hong Kong) Limited, who is a direct wholly-owned subsidiary of Orient Securities Company Limited (the “Company”), in its issue of CNY900,000,000 6.50% guaranteed bonds due 2017. Deutsche Bank AG, Singapore Branch, Guotai Junan Securities (Hong Kong) Limited, Standard Chartered Bank (Hong Kong) Limited, Orient Capital (Hong Kong) Limited and Wing Lung Bank Limited acted as the joint global coordinators, joint bookrunners and joint lead managers in this bond issue.

The Company and its subsidiaries offer a wide range of financial services and products in the PRC and Hong Kong. It is one of the leading financial service providers in the PRC. SW acted as the Hong Kong legal adviser for the Issuer.

Please contact our Mr. Eric Lui for any enquiries or further information about this transaction.

European Court ruling on unemployment benefits

The European Court of Justice recently ruled that a Romanian woman who had emigrated to Germany was not entitled to unemployment benefits because she had made no effort to find a job. This ruling could have implications in that richer countries can limit access to welfare benefits for citizens from poorer ones within European Union (“EU”).

Whilst Britain’s Prime Minister David Cameron welcomed the ruling, suggesting that it would curb “benefits tourism”, Chancellor of Germany Angela Merkel insisted that freedom of movement within EU was not negotiable. While the ruling is limited in scope, it may provide some political cover to some EU governments which have complained of “welfare tourism”.

Please contact our Hank Lo for any enquiries or further information about this news.