As the Hong Kong Special Administrative Region enters the year of the Rabbit, we take stock of recent arbitration-related developments that will likely continue to have ramifications for the territory in the next 12 months.
Outcome related fee structures
The next year will see some of the first Hong Kong arbitrations involving outcome related fee structure (ORFS) arrangements, under a new regime that came into force on 16 December 2022.
Historically, lawyers in Hong Kong had been prohibited from entering into ORFS arrangements, principally comprising “no win no fee” and “no win low fee” structures, for contentious proceedings.
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