September 21, 2022
The Hong Kong Legal Walk (HKLW) for charity is inspired and endorsed by the phenomenally impactful London Legal Walk, which has raised over HKD 100M for charity since it was founded in 2003.  The HKLW is organised by an independent group of volunteers from across the industry in Hong Kong, the Steering Committee.  Directly benefiting four charities: the Hong Kong Cancer Fund; the Changing Young Lives Foundation; the Association for the Rights of Industrial Accident Victims and HELP for Domestic Workers. The goal of the initiative is to unite the Hong Kong legal profession in the causes of charity and service for our local communities.  Over 35 teams have registered to date with over HKD 190,000 having been raised for charity to date, working towards a fundraising goal of HKD 1M, from 7 major benefactors: Allen & Overy, Maples, Hill Dickinson, M.B. KEMP, CMS, Resolution Chambers, Lewis Silkin and Clyde & Co, along with lead sponsors, Lexology and Ashford Benjamin.  The complete list of sponsors, Major Benefactors and firms participating (which includes the 4 main Magic Circle firms in HK) can be found on the HKLW’s website (legalwalkhk.org). The Closing Ceremony will be held on 19th November at the Hong Kong club. Stay tuned via the Hong Kong Legal Walk LinkedIn Feed for the latest updates. Since publicly announcing the event in October 2021, various marquis organisations in Hong Kong, such as the HK Association of Corporate Counsel, Hong Kong Bar Association and HKIAC are all supporting the initiative, the latter of which have allocated a half day of Hong Kong Arbitration Week to host an exhibition walk, and...
July 7, 2022
In-House Community is proud to be the media partner of the Hong Kong Legal Walk (HKLW), which aims to unite the legal profession in the common cause of charity and service for our local communities.  Founded by an independent group of volunteers spanning the profession, the initiative has garnered widespread support from the HKACC, HKBA and HKIAC, the latter of which will be hosting a joint session with the HKLW at Hong Kong Arbitration Week. Become a top fundraiser, get dressed up or go the extra (few) miles to win prizes! Souvenirs are also planned for each level of participation. For firms or in-house departments who raise of HKD 10,000 will have their brand featured on the HKLW website and in the media pack as a Major Benefactor. Register Here: https://legalwalkhk.ic.hk/getinvolved Various judges and leaders in law have declared their support for the HKLW, including Lord Neuberger and Lord Philips.  The HKLW is modelled on the London Legal Walk which has raised over HKD 100M for charity since it started 19 years ago. Join together virtually with Hong Kong’s legal community to walk through some of Hong Kong’s most spectacular harbourfront spots, whilst raising funds and awareness for the Hong Kong Cancer Fund, the Changing Young Lives Foundation, the Association for the Rights of Industrial Accidents Victims and HELP for Domestic Workers. Walk with your peers and colleagues, or individually, which can be completed at any time over the four week event period, choosing a level of participation that works for you: Walker – Walk from Taikoo Place to the Central Harbourfront Wheel (7.5km) Trekker – Trek from Aldrich...
April 28, 2022
Global businesses are forecast to spend $10 trillion on digital transformation in the five years to 2025, capitalizing on rapid technological developments that are reshaping every corner of the corporate world. While digitalization is game-changing, it comes with risks, challenges and obligations that must be understood and navigated to succeed. Globally, complex laws and regulations are leading to significant legal obligations around digital responsibility for companies – which often diverge, rather than converge, across various jurisdictions. These laws extend significant duties and expectations to boards and senior leadership to ensure adequate oversight and governance in this area. In 2022, it is a business imperative to employ the right strategy to deal with these risks and obligations. ‘Going Digital’ Versus Digitalization There is often confusion between a company ‘going digital’ and digitalization. Implementing new technologies in a siloed manner, without consideration of the business-wide implications, can lead to major negative repercussions for the most senior leadership of an organization. Digitalization – the application of digital technologies to transform business activities, processes, competencies, and models to fully leverage the opportunities from technology and data – encompasses companies’ procurement, deployment and use of such technologies. It also includes businesses developing, selling or licensing out these technologies. This could be for internal use or customer-facing purposes, making it relevant to all companies, regardless of sector. Businesses in Asia, and globally, are seeking a competitive edge and digitalizing at breakneck speed, a trend that has been accelerated by the global pandemic. Fifty-five per cent of products and services are at least partly digitalized today, compared with only 35 per cent in 2019, prior to...
April 21, 2022
While most people might think of funny, pricey pieces of digital art when they hear the term ‘NFT’ (non fungible token), NFTs are being employed in an increasing number of applications, including games, music and even automobiles – Alfa Romeo announced its subcompact Tonale SUV will include an NFT that will record vehicle data, generating a certificate that can be used to assure the car has been properly maintained. In addition, NFT arts are used as collateral for financing where lenders could foreclose and own the NFT of a defaulted loan “at a darn good price”. New beneficial applications of NFTs are emerging. For instance, NFTs linked to physical art made by traditional indigenous artists can be listed on online marketplaces, offering these artists a global audience that would otherwise be inaccessible to them. The Need For NFT Risk Assessment But, as the transaction value and usage of NFTs increase, so too do the needs for the owner to fulfil obligations in, inter alia, the reporting for auditing, tax and regulatory compliance purposes, due diligence (e.g. where NFT assets are part of acquisition or merger negotiations), the avoidance of fraud, and ensuring transactional confidence. These risks became all the more tangible when the UK’s tax department, Her Majesty’s Revenue and Customs (HMRC), seized NFTs as part of a £1.4 million fraud case. Identifying these risks is obviously beneficial – the riskiness of an asset affects its validity which, in turn, impacts its value. Yet, it is far more challenging to map such risks than it would appear upon first glance. Complexities Of NFT Risk Assessment To start, a proper...
April 21, 2022
From barrister to offshore law – and the lessons learned in between   Q: You head up the litigation team in the Hong Kong office of Carey Olsen, one of the leading offshore law firms, having started your legal career and practiced for many years as a barrister. In what ways is leading a practice in an offshore law firm different from being a barrister, and how has your background helped you in your work now? It is a real positive that there are now many different routes to progress a legal career and the professions have benefited from having a greater range of backgrounds and experiences: we all bring something slightly different and my team at Carey Olsen is all the stronger for it. As you mentioned, my own practice started with a decade as a barrister, which often focused on the end-point of a case, being the trial, judgment, order or appeal. This reinforced for me the value of the outcome. There is no point having an elaborate strategy to achieve various “successes” if at the end of it your client is no better off, the most poignant example being a hard-won judgment which cannot be enforced against an impecunious defendant. I have continued to focus on truly understanding the client’s objectives, asking what success looks like and then working backwards to find a strategy. As to differences, whilst there are practical and structural differences between the role of a self-employed barrister and the wider role at an offshore law firm, at the core I find there’s a great deal of commonality. The role continues to turn...