Stevenson, Wong & Co.

Our Partner and Head of the Litigation and Dispute Resolution Department, Heidi Chui, was invited by the Asia Business Law Journal to author the Hong Kong update for the Arbitration Report 2024. Together with Consultant Elizabeth Chan (陳曉彤) Chan and Associate Justin SY Kim, they have provided valuable insights into Hong Kong’s recent achievements in arbitration, significant case law trends, and updates to local arbitration rules. Hong Kong has long been recognised as a leading centre for international arbitration, with its prominence continuing to grow over the past year. The article highlights several key developments, including notable achievements by the Hong Kong International Arbitration Centre (HKIAC) and the landmark Guy Lam decision, which has reshaped the landscape of winding-up cases and exclusive jurisdiction clauses. Additionally, the HKIAC introduced new Administered Arbitration Rules in June 2024, designed to enhance efficiency, integrity, and diversity in arbitration proceedings, reflecting a modern approach to dispute resolution. The successful hosting of the ICCA Congress in May 2024 further solidified Hong Kong’s reputation as a premier arbitration hub, attracting over 1,000 professionals from around the globe. Discover how Hong Kong continues to excel as a global arbitration hub by reading the full article here: https://lnkd.in/gcG7c5N4 #SWHK #HongKong #LawFirm #SWDisputeResolution #Arbitration #HongKong #LegalInsights #StevensonWongCo #InternationalDisputeResolution #Law #HeidiChui

Stevenson, Wong & Co. acted for the joint lead managers in the successful listing and issuance of US$55,000,000 7.5% guaranteed Bonds due 2027 (the “Bonds”) by Renshou Urban Investment Group Co., Ltd. (the “Issuer”). The Bonds were listed on Chongwa (Macao) Financial Asset Exchange Co., Limited (“MOX”) on 26 September 2024 (MOX Bond Code: MOXTB24227). The Issuer is a directly wholly-owned company of Renshou County State-owned Assets and Financial Work Bureau. The Issuer is an important investment and management entity of state-owned property and a main operation entity for production and sales of electronic products and wire and optical cable, transfer of own land, water affairs, agent construction service fees, and engineering product in Renshou. Our team was led by Partner Rodney Teoh, supported by Associates Angela Lau and @Audrey Ng, Paralegal Austin Kot (pending admission), Trainee Solicitor Trendy Leung and Paralegal Jay Lee. https://lnkd.in/gFjbzuqd #swhk #hongkong #lawfirm #swcorporatefinance #capitalmarkets #corporatefinance #bonds #MOX #listing #RodneyTeoh

In the recently unveiled 2024 edition of the asialaw profiles annual rankings, Stevenson, Wong & Co. has retained its position at the forefront of the legal market in Hong Kong across 12 practice areas and industry sectors.   In addition to the firm rankings, our Partner and Head of Litigation and Dispute Resolution department, Heidi Chui, has once again been recognised as a “Distinguished Practitioner” in Dispute Resolution. Congratulations to all! #swhk #hongkong #lawfirm #asialawprofiles #banking #disputeresolution #capitalmarkets #corporate #privateclient #legal #awards

We are delighted to announce that our firm has once again been recognised by IFLR1000 Asia Pacific Guide 2024/ 2025, a guide to the world’s leading financial and corporate law firms and lawyers in the following practice areas:    ⁃ Capital Markets- Debt ⁃ Capital Markets- Equity ⁃ Financial Services Regulatory ⁃ Retail Funds   In addition, three of our Partners have received the following recognition for their outstanding work:   ⁃ Hank Lo, Partner and Head of Corporate Finance | Highly Regarded in Capital Markets: Equity ⁃ Rodney Teoh, Partner and Deputy Head of Corporate Finance, Co-Head of Fintech | Highly Regarded in Financial and Corporate & Investment Funds ⁃ Gordon Tsang, Partner | Rising Star in Capital Markets: Equity #swhk #swcorporatefinance #hongkong #lawfirm #capitalmarkets #debt #equity #funds #investmentfunds #corporate #IFLR1000

Stevenson, Wong & Co. wishes you a happy Mid-Autumn Festival! 🌕 🐇 #swhk #hongkong #lawfirm #midautumnfestival

We are honoured to announce that our Partner, Head of Litigation and Dispute Resolution Department, Heidi Chui, has been honored with the prestigious title of "Dispute Resolution Lawyer of the Year" at the ALB Hong Kong Law Awards for TWO consecutive years. This accolade is a testament to Ms. Chui’s exceptional performance and professional expertise in the legal field.   The award ceremony took place on 13 September 2024 at the JW Marriott, bringing together legal professionals from Hong Kong to celebrate excellence within the legal industry. Our Partners, Heidi Chui and Rodney Teoh represented our firm at the gala dinner.   The ALB Hong Kong Law Awards is one of the most prestigious and longest-running awards in Hong Kong’s legal community, recognizing the outstanding performance by private practitioners and in-house teams in the region.   Additionally, our firm received nominations in several categories, including:   - Litigation Law Firm of the Year - International Arbitration Law Firm of the Year - Family and Matrimonial Law Firm of the Year - Private Wealth Law Firm of the Year - Hong Kong Law Firm of the Year - Woman Lawyer of the Year – Heidi Chui - Young Lawyer of the Year (Law Firm) – Gordon Tsang     We would like to take this opportunity to thank Asian Legal Business for organizing such a remarkable event and extend our congratulations to all the winners and finalists. #swhk #HongKong #LawFirm #ALBAWARDS #ALB #HongKongLawAwards #Awards #DisputeResolution #LawyeroftheYear

Stevenson, Wong & Co. acted as the Hong Kong legal adviser to R. F. Lafferty & Co., Inc. (“R. F. Lafferty”), the underwriter of Galaxy Payroll Group Limited (NASDAQ: GLXG) (“Galaxy Payroll”) in its successful listing on the Nasdaq Capital Market on 12 September 2024 (the “Nasdaq Listing”). Galaxy Payroll offered a total of 2,000,000 ordinary shares, priced at US$4.00 per share. The aggregate gross proceeds from the offering was US$8 million. Galaxy Payroll is a reputable payroll outsourcing service, employment, consultancy and market research service provider based in Hong Kong which provides services through its indirectly wholly-owned subsidiaries to customers mainly categorized as (i) global human resources’ service providers engaged by companies/organizations to handle payroll and/or employment-related matters for their branch offices in different regions; (ii) end-users which are mainly multinational companies/organizations that outsource their payroll and/or employment functions to Galaxy Payroll directly; and (iii) end-users consulting Galaxy Payroll for their future expansion worldwide. Our Partners, Hank Lo and Gordon Tsang, together with Associate Gary Kwok, acted as the Hong Kong legal counsel for R. F. Lafferty in the Nasdaq Listing. #swhk #swcorporatefinance #hongkong #lawfirm #capitalmarket #IPO #listing #Nasdaq #USListing

Stevenson, Wong & Co. acted as the Hong Kong legal advisers to Lapco Holdings Limited (Stock Code: 8472) (“the Company”) in the establishment of a sponsored Level 1 American Depositary Receipt (“ADR”) Facility (the “Facility”) with The Bank of New York Mellon as depositary bank with effect from 9 August 2024. This is the first time in recent years that a GEM-listed company successfully established ADR facility. The ADR is a negotiable receipt, resembling a stock certificate that is issued by a U.S. depositary bank appointed by the Company to evidence one or more American Depositary Shares (‘‘ADSs’’). Under the Facility, the ADSs will be issued against ordinary shares of the Company trading on the GEM Board of The Stock Exchange of Hong Kong Limited deposited with a custodian bank under the Facility and traded in the U.S. over-the-counter market. The Company is an investment holding company. The Company along with its subsidiaries is mainly engaged in the provision of environmental hygiene services in Hong Kong. The Company operates its businesses through four business segments: Cleaning Services, Pest Management Services, Waste Management and Recycling Services, and Landscaping Services. The cleaning services cover public and private, residential, commercial and industrial buildings. Our Partners, Mr. Hank Lo and Mr. Gordon Tsang, and Associate, Mr. Ben Chan, acted as the Hong Kong legal counsel for the establishment of the Facility. Please contact Mr. Hank Lo Lo or Mr. Gordon Tsang for any enquiries or further information about this transaction. #swhk #swcorporatefinance #ipo #corporatefinance #listing #GEM #capitalmarkets #americandepositaryreceipt

On 14 June 2024, the Stock Exchange of Hong Kong Limited (the “Exchange”) of the Hong Kong Exchanges and Clearing Limited published a consultation paper (the “Consultation Paper”) inviting public feedback on the proposed enhancements to the Corporate Governance Code (the “CG Code”) and related amendments to the Listing Rules by 16 August 2024. It is proposed that the amendments will apply to corporate governance reports (“CG Reports”) and annual reports for financial years commencing on or after 1 January 2025, with a 3-year transition period for specified proposals pertaining to independent non-executive directors (“INEDs”). Our Partner, Rodney Teoh, highlighted the key focus areas in the Consultation Paper, including board effectiveness, the independence of INEDs, board and workforce diversity, risk management and internal controls, and dividends, in our latest legal updates. Read the full article here: https://lnkd.in/gBg_MEeC #swhk #swcorporatefinance #hongkong #lawfirm #HKEX #CorporateGovernance #CGReport

#StevensonWongHKLawUpdates: Seeking a negative declaration (i.e., a declaration of non-liability) can suggest that a dispute is being artificially created to force arbitration. This raises concerns about the legitimacy of the dispute, especially when the issues are already being addressed in another legal forum. TLDR: ◾ P and D had an investment agreement with an arbitration clause; P sued others but not D. ◾ D started arbitration against P for a negative declaration, i.e., a declaration of non-liability. P argued no dispute existed as no claims were made against D in court. ◾ The Arbitrator held it had jurisdiction and granted D’s request for a negative declaration. ◾ D applied to set aside the award, and the Hong Kong Court of First Instance agreed. P appealed, and the Hong Kong Court of Appeal (HKCA) reviewed the case de novo. ◾ The HKCA set out the principles regarding what constitutes a “dispute” in arbitration. A dispute is a broad concept that does not require a formal claim. It exists when one party’s position is not accepted by the other. Clear assertions are needed; silence is not enough to create a dispute. The existence of a “dispute” is assessed at the start of arbitration. ◾ Seeking a negative declaration can suggest that a dispute is being artificially created to force arbitration. This raises concerns about the legitimacy of the dispute, especially when the issues are already being addressed in another legal forum. ◾ However, a dispute can exist between contracting parties even when non-contractual claims are made against a third party (who is a stranger to the arbitration agreement); for example, because of an assertion that “arises out of or related to” the contract. Ultimately, each case must be evaluated based on its specific facts and circumstances. Case details: CMBICDHAW Investments Limited v CDH Fund V Limited Partnership [2024] HKCA 516 (10 July 2024) Judges: Hon Kwan VP, Barma JA and Coleman J Link to the case: https://lnkd.in/gkYF5hAx Subscribe to #StevensonWongHKLawUpdates for bite-sized updates on the latest Hong Kong updates you should know. Authors: Heidi Chui, Elizabeth Chan (陳曉彤), Justin SY Kim and Serena Lam #swhk #swdisputeresolution #hongkong #lawfirm