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eNews
How Final is the Final Award in Arbitration?
Finality may be defined as the quality or condition of being final, settled, resolved or complete. In arbitration, is the final award the end of the road for the disputing parties ? Section 73 of the Arbitration Ordinance, Cap 609 (“AO”) states that generally “an award … is final and binding both on the parties” etc. Generally, there is no right of appeal against an award on point of law under the AO. That said, Section 81 of the AO (which gives effect to Article 34 of the UNC...
China Updates
Regulatory Scrutiny and Unwinding the Red-Chip Structure
Generally, a Red-chip structure refers to a cross-border shareholding structure whereby the shareholders of a PRC domestic operating entity establish a Special Purpose Vehicle (“SPV”) offshore and subsequently exercise direct or indirect control over the said PRC domestic operating entity through equity ownership or contractual arrangements with the offshore SPV. Enterprises that adopt the above structure are commonly referred to as the "Red-chip Enterprises."
For decades, the ...
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