On 21 October 2016, in light of being awarded the “Best Legal Advisory in Non-Financial Services Categories” in Wealth APAC – IPWM Forum & China Awards 2016, Stevenson Wong & Co hosted a gratitude event in AllBright Law Offices in Shanghai to express our gratitude to our clients for their recognition and support.
Over 70 participants from more than 40 organizations including family offices, private bankers, independent financial advisors, law firms and clients attended the event.

On the same occasion, our Head of Business Development (China), Ms Connie Yeung gave a seminar on overseas assets protection and inheritances, which covered areas including needs for assets protection, strategy and tools of assets protection, overseas trust concepts and case study, and competitive advantage of SW Trustees (Hong Kong) Limited, a professional trustee established by SW.

Please contact Ms. Connie Yeung for any enquiries or further information about this event.

Stevenson, Wong & Co has again been recognized for its success and dedication in the legal industry by being voted “Best Full-Service Law Firm – Hong Kong” and “Sustained Excellence in Banking & Finance Law – Hong Kong” by APAC-Insider.

APAC-Insider is a magazine from the UK focusing on business strategy and analysis in the Asia-Pacific region. Winners are voted by respected industry individuals and by in-house research.

Stevenson, Wong & Co has long been practising banking and finance law such that we are on the approved list of all the major banks in Hong Kong.

Please contact our Mr. Willy Cheng or Mr. Eric Lui for any enquiries or further information.

The Plaintiff suffered serious injuries while wakeboarding. The Plaintiff and her then boyfriend and three colleagues hired a boat owned by the 1st Defendant, and a coxswain named as the 2nd Defendant. At lunch, the Plaintiff drank 2 cans of beer and the coxswain also drank some beer. The Plaintiff wakeboarded once, and then she had a slight headache. After recovery, the Plaintiff wakeboarded the second time, when the accident occurred and serious injury ensued. The Plaintiff sued the owner of the boat for vicarious liability and negligence in failing to instruct the coxswain on how to perform his job safely, and the coxswain for negligence which caused the accident and her injuries. An interlocutory judgment in default was entered against the owner.

The Court found that the coxswain did not act negligently and hence was not liable to the Plaintiff for the injuries. There was no evidence that the coxswain was speeding or that the coxswain’s control of the boat was adversely affected under the influence of the alcohol. Since the Plaintiff’s then boyfriend (and the Plaintiff accepted to) instructed a coxswain only and not a wakeboarding instructor, the coxswain was not under any duty to provide sufficient personal safety equipment. With the Plaintiff having recovered from her earlier headache, there was no evidence that the coxswain knew that the Plaintiff was unfit for wakeboarding. The Court also found that the coxswain was not a duty or had the power to prevent the Plaintiff from wakeboarding. Since the sport of wakeboarding is commonly known as inherently risky, the mere occurrence of the accident alone would not be sufficient for an inference that the coxswain was negligent. Therefore, the Court concluded that the coxswain was not negligent on a balance of probabilities.

As for the claim of vicarious liability against the owner, since his employee, the coxswain, was found not to be negligent, the owner would not be found vicariously liable. It also appears that the Court considered the negligence arguments against the owner were in substance the same as the ones against the coxswain. Hence, the claim against the owner may likely fail too.

This case reiterates the principle that the employee has to be found negligent so that there is a basis for vicarious liability to set in. Also, the court, in holding that the coxswain was not under a duty to prevent wakeboarders from the activities after drinking, seems to place quite substantial responsibility on wakeboarders for taking care of their own safety. Wakeboarders should therefore ensure they are properly insured before riding a wakeboard.

SW acted as legal advisers to the Joint Sponsors, the Lead Manager and Underwriters, to assist in the listing of Altus Holdings Limited (the “Company”) (Stock Code: 8149) on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

The shares were listed on the Stock Exchange on 17 October 2016. Two hundred million shares were offered. The final placing price was HK$0.425 per placing share.

The Company focuses on corporate finance and property investment. Through its principal operating subsidiary, Altus Capital Limited, the Company offers advisory services to companies in relation to corporate restructuring; mergers and acquisitions; fund raising through listings/initial public offerings, share placements and in the case of listed companies, advice to shareholders or advice on compliance with regulatory rules in Hong Kong. Altus Investments Limited, the Company’s another principal operating subsidiary, deals in securities relating to corporate finance. The Company additionally specializes in investment of real estate in both Japan and Hong Kong. As at the time of listing, the Company held an interest in 14 buildings in Japan and one commercial unit in Hong Kong.

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

On 15 October 2016, our senior associate Mr. Rodney Teoh and legal executive (banking & finance department) Mr. Man Wong attended the office relocation ceremony of China Tian Yuan Finance Group (Holdings) Limited held at the Bank of America Tower, Hong Kong.

We have a strong relationship and cooperation with Tian Yuan Finance, a corporation that provides one-stop-shop cross border brokerage, corporate finance and asset management services.

For more enquiries about this event, please contact our Mr Eric Lui.

We are excited to announce that Stevenson, Wong & Co. is launching a new project, “One Belt, One Road Legal Service Centre”.

In light of “One Belt, One Road” initiative introduced by President Xi Jinping, we anticipate that there will be much more cross-border business opportunities and foreign direct investments between OBOR countries in the coming years. To cater for the growing demand for legal consultancy services concerning such business activities, the Legal Service Centre will cooperate with our trusted Interlaw member firms in Southeast Asian countries, including Blumenthal, Richter & Sumet of Thailand, Colin Ng & Partners LLP (CNP) of Singapore, Lee Hishammuddin Allen & Gledhill of Malaysia, Mochtar Karuwin Komar of Indonesia, Quasha, Ancheta, Peña & Nolasco of The Philippines and Vision & Associates Legal of Vietnam, to create and deliver tailored legal solutions that will comprehensively take care of your needs in each country.

Please refer to our brochure and contact our Mr. Eric Lui for more information.