Publication
Mission impossible? Teresa Ribera’s mission letter and the future of EU merger review
Executive Vice President Vestager’s momentous tenure as Commissioner responsible for EU competition policy is nearing its end.
Global | Publication | May 2024
On 3rd May 2024, the Hong Kong International Arbitration Centre (HKIAC) introduced new arbitration rules that would come into force on 1 June 2024. The 2018 Administered Arbitration Rules of the HKIAC (the 2018 Rules) have been well-received by users and are widely recognised as a market-leading set of arbitral rules since their release. The 2024 Administered Arbitration Rules of the HKIAC (the 2024 Rules) is a refinement of the 2018 Rules but with key changes to reflect advancing social norms of diversity, environmental and technological developments. They also introduce new powers and clarify existing powers of tribunals and the HKIAC.
Here is a summary of some notable changes under the 2024 Rules and its implications on commercial parties who are or may be involved in arbitral proceedings.
The 2024 Rules are a welcome refinement of the 2018 Rules and reflects the HKIAC’s keen awareness of topical issues such as diversity in the appointment of arbitrators, information security and environmental impact of international arbitrations. Some amendments in the 2024 Rules provide welcome confirmation of the tribunal’s wide-ranging powers in deciding on the arbitral process such as the ability to decide on preliminary issues in the arbitration to increase efficiency in the arbitration proceedings. It is worth highlighting that in declining to include scrutiny of the awards (unlike other arbitral institutions such as the ICC or the SIAC), the HKIAC has, like the LCIA, deliberately retained its “light touch” administration-style in the conduct of arbitral proceedings.
This article is not intended to be an exhaustive review of the changes under the 2024 Rules and should only be used as a guidance. For a thorough review on the 2024 Rules and analysis on how the 2024 Rules may impact your potential and/or existing involvement in a HKIAC-administered arbitral proceeding, please reach out to your usual NRF contact.
Publication
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Publication
On November 28, 2023, the European Commission (EC) adopted its first list of Projects of Common Interest (PCIs), i.e., projects within the EU territory, and Projects of Mutual Interest (PMIs), i.e., projects connecting the EU with other countries, including 166 projects implementing the European Green Deal.
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The Securities and Futures Commission (SFC) and the Stock Exchange of Hong Kong Limited (SEHK) issued a Joint Statement on 18 October 2024 in relation to an enhancement in the timeline for the IPO1 application process (Enhanced Application Timeframe) by new listing applicants (the Applicants), taking effect immediately.
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