The HKIAC kicked off the first event in its financial disputes series, “The Future of Financial Transactions in Asia – Opportunities and Challenges”, which coincided with with the 7th Asian Financial Forum (AFF), gathering together some of the most influential members of the global financial and business community in Hong Kong. With Hong Kong being the leading financial hub in Asia, the seminar brought together arbitration and financial experts to share their insights on the current financial landscape in Asia and how arbitration can best be used to mitigate risks should disputes arise.
The first session was a stimulating interview carried out by Frances Van Eupen of Allen & Overy with Jonathan Witts of PNB Parabas providing the industry's views on financial dispute mechanisms available in financial agreements. Mr Witts noted that although litigation is still the mainstay in the industry, alternative dispute resolution practices are increasingly gaining favour as parties are becoming progressively more sophisticated. It was also noted that confidentiality was a dominating factor when choosing arbitration or mediation over litigation.
Moderated by Romesh Weeramantry of Clifford Chance, the second panel, “From Cradle to Grave: The Life of a Private Equity Deal” comprised of John Choong of Freshfields Bruckhaus Deringer and Kirtee Kapoor of Davis Polk & Wardwell, examined the “do's and don'ts” of advising private equity clients as well as what gives rise to the potential for disputes in the private equity sector.
The seminar concluded with a session moderated by HKIAC’s Ruth Stackpool-Moore., during which William Wong SC and John Scott QC SC of Des Voeux Chambers addressed current trends in financial disputes from a litigation standpoint and highlighted the desirability of arbitration for financial disputes. With a full house and the first financial disputes seminar being a resounding success, HKIAC will be hosting the 2nd part of the financial disputes series on 20 March 2014. We look forward to seeing you there.
Hong Kong International Arbitration Centre
Tel: (852) 2525 2381
Fax: (852) 2524 2171