Legal assistance between Hong Kong and Mainland China has become more and more extensive in recent years. Signed on 18 January 2019, 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" enables judgments made in Hong Kong to be enforced in Mainland China. Henceforth, by understanding the Mainland's litigation process and legal system, Hong Kong businessmen and foreign investors could leverage this new agreement to mitigate default risks and to protect the businesses when encountering commercial disputes. In this seminar, the speakers will share notable issues relevant to this new agreement when trading and doing business in Mainland China.
Outline:
• 2019 New Agreement: "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"
- Covers both monetary and non-monetary reliefs
- Excludes judgments on corporate insolvency, debt restructuring, and personal insolvency
- Skips the process to re-litigate cases; saves time and legal costs
• Common mistakes in drafting a contract
- Missing official company/corporate seal
- Signature not by an authorized agent or representative
- Unclear delivery location, delivery method and/or service scopes
- Resolution causes of indemnification, breach of contract and contract dispute
• How could creditors protect their own rights and interests?
- Ways to extend the statute of limitation
• Assets search and enforcement procedure in China |