Session 5: Why Arbitrate in Hong Kong? Peter T Chow Partner, Squire Sanders Kiran Sanghera Consultant, HKIAC Organiser: Partner :
HKIAC in the Americas: Why Arbitrate in Hong Kong June 20, 2013 Sao Paulo, Brazil 39 Offices in 19 Countries Peter Chow Partner Squire Sanders Hong Kong Peter.chow@squiresanders.com
83 About Hong Kong
About Hong Kong Best Business City in the World 4 consecutive years Business Traveller Asia Pacific Magazine World s Best Airport 10 years TTG Travel Awards World s Top Financial Center 2 consecutive years World Economic Forum 84
Transparent and Independent Legal System Hong Kong a Special Administrative Region of China One Country, Two Systems English Common Law until 2047 85
Strong Legal and Regulatory Framework Certainty of laws and regulations Cutting edge and user-friendly arbitration laws (UNCITRAL Model Law): Arbitration Ordinance revamped in 2011 86
Institute for Management Development: World Competitiveness Report 2012 Source: Institute for Management Development World Competitiveness Report 2012: Legal and Regulatory Framework Hong Kong ranked No. 1 out of 59 countries surveyed for Legal and Regulatory Framework 87
Judiciary Independent and efficient judiciary Court of Final Appeal includes judges not from Hong Kong Arbitration List pro-arbitration and hands off approach 88
Enforcement of Awards New York Convention for the Recognition and Enforcement of Arbitral Awards Arrangement Concerning Mutual Enforcement of Arbitral Awards Between Mainland China and the Hong Kong SAR Similar to NY Convention Hong Kong and Macau Relationship Ordinance of Taiwan 89
Infrastructure Within 3 5 hrs flight to major cities in Asia; major air hub Hong Kong International Arbitration Centre State of the art facilities Modern administered arbitration rules or ad hoc International Advisory Board includes arbitration lawyers from around the world Availability of experienced arbitrators (or choose from outside Hong Kong) Many different nationalities resident in Hong Kong No restriction on foreign counsel acting Availability of arbitration lawyers and other professionals 90
Infrastructure Cheapest Michelin-starred restaurant in the world 91
The Hong Kong International Arbitration Centre 21 June 2013 Kiran Sanghera, Consultant, HKIAC
Introduction to the HKIAC Established in 1985, independent & non-profit organisation 25 Council Members Board of Directors 20 full-time staff International and multilingual Secretariat representing both common law and civil law traditions 300+ arbitrators, 500+ mediators Asia s Prime Location for Dispute Resolution Services www.hkiac.org
Role of the HKIAC Administrator of arbitrations, mediations and domain name disputes Appointing authority under the Hong Kong Arbitration Ordinance - Determine number of arbitrators - Appoint arbitrator(s) - Appoint mediator Hearing centre for arbitrations and mediations Fundholder for arbitrations Administration centre for arbitration institutes based in Hong Kong - Chartered Institute of Arbitrators (East Asia Branch) - Hong Kong Institute of Arbitrators - Society of Construction Law Asia s Prime Location for Dispute Resolution Services www.hkiac.org
HKIAC Arbitration: Institutional & Ad-Hoc Institutional Arbitration Procedures for the Administration of Arbitration (used in conjunction with UNCITRAL Arbitration Rules) HKIAC Administered Arbitration Rules (Revised version to be released 1 November 2013) Ad-Hoc Arbitration Appointing authority Asia s Prime Location for Dispute Resolution Services www.hkiac.org
HKIAC Administered Arbitration Rules: The History Introduced 1 September 2008 Revision process 2012-2013 New Rules to take effect 1 November 2013 Continues signature Light touch approach Asia s Prime Location for Dispute Resolution Services www.hkiac.org
Key Revisions Handling complex arbitrations: Joinder Consolidation Single arbitration multiple contracts HKIAC prima facie power to proceed Emergency arbitrators Expedited Procedure Arbitrators fees & expenses, streamlined terms & conditions Asia s Prime Location for Dispute Resolution Services www.hkiac.org
HKIAC: Trends and Statistics In 2012, HKIAC handled a total of 456 dispute matters 293 arbitration 116 domain name disputes 47 mediation disputes Of the 293 arbitration cases handled by the HKIAC in 2012 68% were international 32% were domestic 68 cases fully administered by the HKIAC 44 in 2013 (to date) Total amount in dispute: administered cases US$1.8 billion Nationality of top 2 users: Mainland China and US Asia s Prime Location for Dispute Resolution Services www.hkiac.org
HKIAC & Latin America Growing relationship: Between 2010 - June 2013 HKIAC handled 9 arbitration matters invloving Latin American parties: Brazil (3), Panama (2), Ecuador (1), Argentina (1), Costa Rica (1), Mexico (1) Asia s Prime Location for Dispute Resolution Services www.hkiac.org
China s Global Reach Latin America In 2012, the value of bilateral trade increased, amounting to USD$240 billion China - the third largest investor China is the major importer of Latin American raw materials
HKIAC in the Americas
THANK YOU Website: Address: www.hkiac.org 38 th Floor, Two Exchange Square Central, Hong Kong Tel No. : (852) 2525 2381 Fax No. : (852) 2524 2171 Email: adr@hkiac.org