On January 29, 2024, the Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters by the Courts of the Mainland and of the Hong Kong Special Administrative Region ("Arrangement") officially took effect in both Hong Kong and the Mainland.
This significant development establishes a mechanism for the mutual recognition and enforcement of judgments in civil and commercial matters between the two jurisdictions. For creditors seeking to initiate and facilitate the recognition and enforcement process, it is important to follow certain procedural steps. In light of this, Mr. Edward Liu aims to provide practical guidance to creditors who wish to apply in Hong Kong for the recognition and enforcement of a Mainland judgment in civil and commercial matters.
However, despite the widespread welcome of the commencement of the Arrangement, which has significantly expanded the scope for mainland court judgments to be enforced in Hong Kong, there have been concerns and misconceptions raised regarding its impact. Some of these misconceptions include the belief that the courts of the two jurisdictions will notify each other or exchange information on the details or enforcement of the case, and even suggestions that "judgments of the Mainland courts would become automatically applicable in Hong Kong, and assets in Hong Kong could be confiscated by the Mainland directly." It is important to clarify that these misconceptions are indeed fallacies, but they have raised questions among individuals who are concerned about the security of their assets in Hong Kong.
Register for free now to join the online seminar on 7 June 2024, 12pm - 1pm HKT, and gain strategic guidance from Edward Liu, Partner at Haiwen & Partners as he dissects the practicalities of the new regime and recommendations for protecting high net worth private clients based on his expertise.
Agenda
The 60-minute session covers:
- The ins and outs of the Arrangement: Understand its scope, application, and key procedural steps for initiating recognition and enforcement.
- Practical Guidance for maximising your success: Gain practical guidance to effectively recover debts and protect your high-net-worth clients' assets.
- Addressing concerns and clarifying misconceptions: Gain clarity on the Arrangement's impact and dispel any doubts about asset security in Hong Kong.
Speaker
- Edward Liu, Partner, Haiwen & Partners
Event details
- Date: Friday, 7 June 2024
- Time: 12pm - 1pm HKT
- Location: Online
- Language: English