(中文) 2019年1月9日，史蒂文生黄律师事务所合伙人及诉讼及争议解决部门主管、香港律师会国际法律事务委员徐凯怡律师受邀出席由香港律师会主办的韩国律师协会访问团学习交流活动、接待到访的韩国律师协会会员，并为其详尽介绍了香港的法律制度、律师行业的组织和组成以及司法机构制度的最新状况。

若阁下想了解更多信息，请联络本所合伙人徐凯怡律师，heidichui.office@sw-hk.com 。

(中文) 2019年1月8日，史蒂文生黄律师事务所曾浩贤律师参加由成都市郫都区人民政府主办、成都市郫都区人民政府金融工作办公室及中港环球投资互动协会承办的「香港上市专家郫都行」。活动圆满落幕，郫都区政府领导、律师事务所、会计师事务所及投资机构代表、郫都区不同部门代表及郫都区拟赴港上市企业代表等50多人参加。

郫都区徐传峰副区长及承办方之一中港环球投资互动协会陈礼会长先后为活动致辞，感谢各界来宾出席是次金融沙龙。及后有四位嘉宾发表主题演讲，本所曾浩贤律师获邀担任演讲嘉宾，分享「上市后的合规管理」，并与参加人士互相交流意见。此外，锦天城（深圳）律师事务所合伙人雍中全律师发表「内地企业香港上市的路径选择及注意的法律问题」为题的演讲，中国光大融资有限公司董事总经理胡宝生先生分享「在香港上市的合规要点及如何处理与投资者关系」，德勤会计师事务所合伙人罗远江与参加者讲解「上市前财务准备／企业合规与内控措施」。

曾律师表示：「每一家参与的企业都实力雄厚，满足上市要求更是绰绰有余。香港一直是四川企业境外上市的首选，希望两地加强合作交流，共同推动更多四川优质企业赴港上市。」

如欲查询是次活动，请联络本所曾浩贤律师。

On 8 January 2019, partner and consultant from Jingtian & Gongcheng Mr. Bill Wu and Ms. Shanjing Lu paid a friendly visit to Stevenson, Wong & Co. and met with our partners Ms. Catherine Por and Ms. Wendy Lam. They discussed the differences between family wealth and succession planning in Hong Kong and Shanghai. This was an opportunity to showcase our private client services to professionals from other jurisdiction.

From left to right: Ms. Wendy Lam, Ms. Shanjing Lu, Mr. Bill Wu and Ms. Catherine Por

For more enquiries about this event, please contact Ms. Catherine Por or Ms. Wendy Lam.
 

As the most recognized international arbitration center in the Asia Pacific region, Hong Kong has long maintained a positive and open attitude towards its development of the arbitration system and the recognition and enforcement of arbitral awards.

With the amendment of the Arbitration Ordinance (Cap. 609) (hereinafter referred to as the “Ordinance”) in Hong Kong in 2017, the Code of Practice for Third Party Funding of Arbitration (hereinafter referred to as the “Code of Practice”) pursuant to Division 4 of Part 10A of the Ordinance has been issued in December 2018. The law that allows third party funding of arbitrations will come into effect on 1 February 2019.

Important amendments brought by the newly amended Ordinance

Previously, with respect to third party funding of litigation or arbitration, the common law principles of maintenance and champerty apply. A party with no legitimate interest in the proceedings may not engage in funding the parties to the proceedings in return for a share in any award or settlement (e.g. no-win-no-fee arrangement). Such third party may be criminally liable.

The newly revised Arbitration Ordinance has lifted restrictions on third party funding of arbitration. Not only may a third party funder provide financial assistance in relation to the cost of the arbitration, claimants and respondents in arbitration may also enter into more flexible agreements with their solicitors. Although the funder bears the risk of receiving a financial benefit only if the arbitration is successful, it is a reduced financial risk to the funded party when pursuing a claim.

The conditions to third party funding of arbitration under the Ordinance are briefly summarized as follows:

(1) funding by a body without an interest recognized by law in the arbitration (other than under the funding agreement);

(2) of a party (or prospective party’s) costs and expenses of an arbitration;

(3) in return for a share of the proceeds from the arbitration if it is successful (as defined in the funding agreement).

Code of Practice

The Code of Practice was issued pursuant to Division 4 of Part 10A of the Ordinance. The Code of Practice sets out a clear and complete set of practices and standards for third party funding of arbitration, governing the funding agreement and the responsibilities of the contracting parties, for example:-

(1) the funding agreement: to be confirmed by the funded party in writing to the third party funder, that the funded party has taken independent legal advice provided by the third party funder;

(2) capital adequacy requirements of third party funders: the third party funder must ensure that it maintains the capacity to cover its funding liabilities for a minimum of 36 months and maintain a minimum of HK$20 million of capital;

(3) conflicts of interest: the third party funder must carefully manage their conflicts of interest under the funding agreement;

(4) control of arbitration: the arbitration shall be controlled by the funded party or the funded party’s legal representative, and the third party funder shall not influence or cause the funded party’s legal representative to act in breach of professional duties;

(5) liability of adverse costs: the funding agreement must clearly state whether the third party funder is liable to the funded party to meet any liability for adverse costs;

(6) termination of the funding agreement: the funding agreement must clearly state the grounds for termination.

The Code of Practice serves as a guide and standard when entering into a funding agreement. Failure to comply with the Code of Practice does not of itself render any person liable to judicial proceedings, but may be taken into account as admissible evidence in future legal proceedings.

Please contact our Head of Litigation and Disputes Resolution Ms. Heidi Chui heidichui.office@sw-hk.com for any enquiries or further information about this update.

(中文) 2018年12月23日，史蒂文生黄律师事务所合伙人、诉讼及争议解决部门主管徐凯怡律师获颁深圳国际仲裁院仲裁员聘书，于其2019版《仲裁规则》发布会暨仲裁员培训交流会中与来自境内外近400名仲裁员互相交流。

深圳国际仲裁院理事会及其仲裁员资格审查与操守考察委员会接获近80个国家／地区的数千名申请人，经过多轮审议，最终通过《深圳国际仲裁院仲裁员名册》，共890名仲裁员。本所合伙人徐凯怡律师、锦天城律师事务所顾功耘主任、刘炯律师、江定航律师、高田律师、李立坤律师、黄思周律师及黄海律师也是名册成员之一。

深圳国际仲裁院理事郭晓文于发布会中表示深圳国际仲裁院的境外仲裁员占比高于40%，结构进一步国际化，有利于共建国际商事争端解决机制，促进「一带一路」营商环境建设。

想了解更多信息，请联络徐凯怡律师。

A “Mediate First” Pledge campaign was launched in May 2009 with more than 460 companies and trade organisations pledging to consider the use of mediation first before resorting to other means of dispute resolution. Stevenson, Wong & Co. was one of the first organizations to sign the “Mediate First” Pledge. We are committed to first explore the use of mediation in resolving disputes.

In May of this year, the Department of Justice organized Mediation Week 2018. The theme was “Mediate First-Exploring New Horizons”. It sought to look ahead at future developments including online dispute resolution and the use of mediation in resolving international commercial disputes.

There are 3 accredited Mediators in our firm. Ms. Catherine Por and Ms. Sherlynn Chan are Accredited Family Mediators. Ms. Heidi Chui is an accredited mediator of Hong Kong International Arbitration Centre, The Law Society of Hong Kong and a Panel Mediator for Buildings Management Cases of the Lands Tribunal.

Should you have any queries in connection with mediation, please contact Ms. Catherine Por.