Tim Hanstad’s Post

After much anticipation, the Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance will finally come into force on 29 January 2024. This is designed to streamline the enforcement process and expand the categories of judgments/rulings and subject matters that may be recognised and enforced in Hong Kong. In my view, the most important change is to formally do away with the express requirement of an exclusive jurisdiction clause, which greatly reduces obstacles for parties to recognise and enforce judgments cross-border, particularly where one has asymmetric dispute resolution clause. I'm hopeful that following the implementation of this legislation, we will see an uptick of cross-border recognition and enforcement of judgments with enhanced efficiency. We highlight key changes from the existing arrangement, and discuss practical impact the legislation will have in the Hong Kong legal landscape in this blog post. Also watch the space for our next webinar on this update!

Jurisdictional issues: Challenges of multi-jurisdictional proceedings https://lnkd.in/epkBEDpu Ontario recently amended its class proceedings legislation to include multi-jurisdictional provisions that are like provisions that already exist in British Columbia, Alberta and Saskatchewan.1 Few courts have considered these provisions, but the decisions that are available provide insight into the circumstances when a court may, or may not, certify (or stay) a multi-jurisdictional class proceeding before it, and the timing for hearing such an application. To date, this analysis has turned on the relative stage of proceedings and the plan for prosecution of the proceedings, but the courts have been clear that all circumstances should be considered when determining in which […] Cyprus CEO - Business articles, company news/updates, opinions. https://lnkd.in/e5ZMB_2R #CEO #business #management #marketing #tech #AI #legal #money

Delighted to have worked with Paul Reeve, Léa Julienne-Ista and Mert Bakirci of RBB Economics to produce a Practice Note on market definition and analysis in EU and UK competition law. Link below (subscription required): https://lnkd.in/etuH8BDS #competitionlaw #mergercontrol #antitrust #marketdefinition #lexisnexis

🌍 Join us in Dublin for the International Bar Association’s 39th Annual International Financial Law Conference! From May 15 to 17, our partners Christopher Alam and Kelby Carter will be on the ground, ready to connect and share insights with you. See you in Dublin! 👋 #IBAConference #IBA #FinancialLaw

The International Bar Association's 39th International Financial Law Conference is around the corner and we will be there! My partner Angelos Onisiforou will be joining me. Anticipating fruitful discussions, eager to reconnect with familiar faces and building new connections. See you in Dublin! #IBA #FinancialLaw #Conference #Dublin #Funds #DirectorsAccountability #FinancialInstitutions #networking #patrikioslegal

Jurisdictional issues: Challenges of multi-jurisdictional proceedings https://lnkd.in/eNV4dhEt Ontario recently amended its class proceedings legislation to include multi-jurisdictional provisions that are like provisions that already exist in British Columbia, Alberta and Saskatchewan.1 Few courts have considered these provisions, but the decisions that are available provide insight into the circumstances when a court may, or may not, certify (or stay) a multi-jurisdictional class proceeding before it, and the timing for hearing such an application. To date, this analysis has turned on the relative stage of proceedings and the plan for prosecution of the proceedings, but the courts have been clear that all circumstances should be considered when determining in which […] Cyprus CEO - Business articles, company news/updates, opinions. https://lnkd.in/eNXuPPiM #CEO #business #management #marketing #tech #AI #legal #money

Good to see the Official Receiver back in the courts as Liquidator. These 'no records' cases are tricky to bring as they immediately change character the moment the director finally decides to produce the records that they said they didn't have. Summary Judgment is so tempting in such circumstances but is rarely the right course, especially where the director is a litigant in person. The Liquidator also has to have a plan for when the director produces the inevitable rabbit. A court will rarely exclude company documents from evidence, even if produced on the day of trial, but the Liquidator can ensure that costs to the point of the production of the records are recoverable against the director. This is a 2017 liquidation on a HMRC petition. As its an OR case there are no reports filed at Companies House so we don't know why its taken so long to pursue the claim, what the financial outcome might be and the costs to date. Here is the link : "https://lnkd.in/eRuuUGFp"

  The recent judgment in the case of Anatoly Leonidovich Motylev In Bankruptcy provides important guidance to the Grant Thornton UK LLP Joint Trustees In Bankruptcy, Kevin Hellard, Robert Starkins, and Nick Nicholson.   In the judgement handed down on 10th July 2024, the court ruled:   “The voting rights of creditors under a creditors' decision procedure under the bankruptcy provisions of IA 1986 and the Insolvency (England and Wales) Rules 2016 and the rights of creditors to participate in and vote at a creditors' committee under section 301 IA 1986 and Part 17 Insolvency Rules 2016 do not constitute "funds" or "economic benefits" for the purposes of the 2019 Regulations and using such rights or accepting any such votes do not amount to dealing with "funds" or with "economic benefits" for the purposes of the 2019 Regulations”   Rob comments :   “On this occasion direction from the court was necessary to provide guidance on a complicated area of the law.   This decision is significant for the industry because it provides clarity on whether a creditor can vote if they are subject to sanctions.”    #GTOffshore acknowledges that this decision holds implications that extend beyond the UK, potentially carrying global significance.   #Santions #AssetRecovery #Judgment   Hellard & Ors v OJSC Rossiysky Kredit Bank & Ors [2024] EWHC 1783 (Ch) (10 July 2024) (bailii.org)

The Law Reform Commission has invited stakeholders and other members of the public to comment on the issues identified in the Discussion Paper titled “Adverse Possession” and, in particular, to submit their views on the recommendations presented for discussion. The Discussion Paper aims to determine whether the doctrine of adverse possession should be abolished in the Cayman Islands or retained in a modified form. Adverse Possession is the process by which a person can obtain title to land belonging to someone else by continuously occupying the land in a way that is inconsistent with the rights of the owner. This Discussion paper may be viewed on the following websites: www.gov.ky/lrc or www.gov.ky or a copy may be collected from the Offices of the Law Reform Commission. Submissions should be forwarded no later than 27th October 2023 to the Director of the Law Reform Commission in one of the following ways: - by email to cilawreform@gov.ky; - by hand delivery to the Law Reform Commission, Portfolio of Legal Affairs, 4th Floor, Government Administration Building, 133 Elgin Avenue, George Town, Grand Cayman; or - by post to the Law Reform Commission, P.O. Box 136, Grand Cayman KY1-9000. We want to hear from you! #CaymanIslandsGovernment #LawReformCommission #AdversePossession

I had a great time earlier this week discussing the future of payments, and the role for competition law and lawyers in shaping it, with my brilliant co-panelists Zach Meyers, Peder Østbye and Russell Mascarenhas, and connecting with others interested in competition law in FS. Thanks to the Informa team for hosting the, as ever, topical and engaging run through of hot topics in FS and competition law. #payments #competitionlaw #financialservices