Pasinee Tangsuriyapaisan

Paul DiGiacomo, Managing Partner and Head of Financial Sponsors Group, BDA Partners, discussed the Korean M&A market in a recent Seoul Economic Daily interview: "The M&A market is expected to recover in earnest starting next year. With interest rates falling, and the uncertainty around the US presidential election resolved, M&A transactions are likely to increase through 2026-2027.” “Most Asian markets, except for India, were sluggish through the first half of 2024. However, they're recovering, with 75% of annual transactions concentrated in the second half." Read the full interview here: #theglobalinvestmentbankingadvisorforAsia #BDAPartners #Korea #MandA

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Setting aside default judgment on arbitration ground In Tongcheng Travel Holdings Limited v OOO Securities (HK) Group Limited [2024] HKCFI 2710, the Court of First Instance considered the interaction between setting aside default judgment and stay application for arbitration. The Plaintiff entered into an investment management agreement (IMA) with the Defendant in 2018, by which the Plaintiff transferred US$30 million to the Defendant to invest. Under the IMA, the agreement is effective until both parties agree in writing to terminate. The IMA also contains an arbitration clause, providing for the parties’ reference of disputes to “the relevant legally authorized body in Hong Kong for arbitration”. In 2022, the Plaintiff sought to unilaterally terminate the IMA. The Plaintiff then sued for the return of the managed assets and obtained default judgment. The Defendant applied to set aside the default judgment on the basis that there was a valid arbitration agreement. Mimmie Chan J set aside the default judgment and made several important findings: 1.     Correct approach when considering a combined application for setting aside default judgment and staying court action for arbitration: The approach set out by Ma J (as he then was) in Dah Chong Hong (Engineering) Ltd v Boldwin Construction Co Ltd HCA 1291/2002, 11 October 2002 was affirmed. The Court will reach a view on the stay application first. If it succeeds, the default judgment will also be set aside, and the Court does not consider the merits of the defence. If the Court takes the view that the stay application will or is likely to fail, a defence that has a real prospect of success will have to be shown in order for the court to set aside default judgment. 2.     Interpretation of arbitration clause: The parties had clearly expressed an intention to arbitrate in Hong Kong. The reference to a “relevant and legally authorized body” could be referring to the HKIAC. There is also no irreconcilable conflict between the arbitration clause and an exclusive jurisdiction clause. The latter clause provides for the supervisory #jurisdiction of Hong Kong courts over the arbitration. 3.     Meaning of “first statement on the substance of the dispute” in s.20 Arbitration Ordinance: There was no authority considering steps taken by a defendant in a different set of proceedings. The Court preferred a narrow construction of s.20. Although the Defendant also issued a writ against the Plaintiff for breach of the IMA, the stay application was not time-barred as the Defendant’s writ did not concern the same matter. 4.     Whether arbitration #agreement had become inoperative: the Defendant did not unequivocally abandon its right to #arbitration simply by issuing a writ, particularly in light of a no-oral-modification clause. The full judgment can be viewed here: https://shorturl.at/ZXaeQ. Benjamin Yu SC, Bernard Man SC and Danny Tang, instructed by Gibson Dunn, for the Defendant.

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Haoling Zhang, the co-founder of Heroad Investments recently accepted the interview with NetEase for the column of“Hello, ESG”. During the exclusive interview, Mrs Zhang delved into several crucial topics, including: 💡 The significance of ESG investment within the Chinese market; 💡 ESG investment strategies that mitigate risks while increasing investment returns; 💡 The roles of Social Value Committee in executing ESG investments effectively.; 💡 The importance for start-up companies to prioritize ESG practices from inception; 💡 The pivotal role that female investors can play in championing ESG investments and driving positive change in the investment landscape. If you are interested in the interview, please click the following link to access the full article. https://lnkd.in/g7vWBHeM

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Korea Investment & Securities announced on the 19th that its "Korea Investment Default Option High-Risk Balanced Fund" ranked first in annual returns among securities firms, as reported in the 2024 Q3 default option (pre-designated investment method) performance disclosure by the Ministry of Employment and Labor. The default option is a system where retirement pension funds are automatically invested in pre-selected products if participants fail to provide investment instructions within a certain period. According to the Ministry of Employment and Labor, the Korea Investment Default Option High-Risk Balanced Fund achieved a one-year return of 26.56%, maintaining the highest return in the securities industry for three consecutive quarters in 2024. The fund incorporates the "Korea Investment MySuper Growth Portfolio," which was designed by benchmarking the success factors of Australia's default option "MySuper." It invests in a diversified range of assets, including U.S. growth stocks, domestic bonds, U.S. inflation-linked bonds, and alternative assets. The fund periodically adjusts asset allocation in response to market changes to build an optimal portfolio.

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J.P. Morgan Japanese trust to acquire £144m in assets from JSGI after merger approval. J.P. Morgan Japanese (JFJ) will acquire around £144m of assets from the Japan Small Cap Growth & Income (JSGI) trust, after the latter's shareholders approved the merger. Check out Sorin-Andrei Dojan's latest article👇 https://incm.pub/3YACIoZ #investment #wealthmanagement #assetmanagement #finance

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Nishimura’s HK office to aid Japan Inc’s Asean investment https://lnkd.in/gNt48Qxf Nishimura & Asahi has become the only one among Japan’s five largest law firms to launch a direct branch office in Hong Kong, mainly targeting Japanese corporations with subsidiaries or branches in the global financial centre. Ryuichi Sakamoto of Nishimura & Asahi’s Hong Kong office, tells Law.asia that there is currently demand among Japanese companies in the city for legal advice in matters regarding privacy law, litigation and M&A transactions in Southeast Asia. Having already received approval from the Hong Kong Law Society for the office launch, the Tokyo-based law firm is now in the middle of preparing for the office opening and can start its business on the ground in the next few months. Sakamoto will soon be joined by Saori Okada, a former chief representative of Nishimura & Asahi’s Beijing office. Since July 2015, Okada has been practising at Okada Law Firm, which has a business relationship with Nishimura & Asahi. 👉 Sign up for the latest updates in the legal industry: https://lnkd.in/g3brrPdM #lawdotasia #ablj #iblj #cblj #asia #japan #hongkong #litigation #corporatelaw #legalnews #inhousecounsel #business #legalprofession #lawfirms #lawyers #legal #law  

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[ON.CC | Value Partners: Gold price approaches $2,470, setting an all-time high (ATH); analyst suggests further upside potential] Rising expectations of a September Fed rate cut, coupled with the recent attack on U.S. presidential candidate Donald Trump, have led to New York gold futures and spot gold reaching new historical highs. Alex Chiu, Senior Strategist of ETF Business at Value Partners, maintains a positive outlook for gold in the latter half of 2024, citing ongoing geopolitical uncertainties and increasing central bank demand as the main drivers of gold prices. Read the full article now (Chinese only): https://lnkd.in/guVX4VUk Follow us on LinkedIn to access our latest news and investment insights. 🔎 Facebook: bit.ly/3mjfFLB  🔎 YouTube: bit.ly/valuepartners4236 🔎 Subscribe to our e-newsletter: bit.ly/3AGDDI6 #valuepartners #mutualfunds #investments #assetmanagement #goldetf #gold Investment involves risk. The above information is for reference only. It does not constitute an offer or an invitation to subscribe any securities, or a recommendation in relation to any securities. 

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In the recent decision of Re Primlaks (H.K.) Ltd (in Liquidation) [2024] HKCFI 752, the Hong Kong court held that in adjudicating proofs of debt based on a default judgment, a liquidator may go behind the judgment in the event of fraud, collusion or miscarriage of justice. Where a proof of debt is based on a default judgment, the ground of miscarriage of justice is particularly relevant since a default judgment involves a one-sided presentation of facts, the objectivity and accuracy of which could be subject to challenge or further scrutiny. In particular, the court held that the liquidator need not challenge the judgment prior to looking behind it. In this case, the court found it sufficiently clear that the liquidators’ case was based on an alleged miscarriage of justice in a default judgment. The court agreed with the liquidators that there was good reason that the default judgment ought not to have been granted. The petitioner failed to introduce sufficient evidence to discharge their burden of proving that the alleged loans were genuine debts. Furthermore, the available contemporaneous documents show information that directly contradicted the petitioner's claim. As such, the liquidator's decision to reject the petitioner's claim was confirmed and dismissed the petitioner's application with costs. Read more here: https://lnkd.in/ge_sB6Rv The views expressed in the article belong solely to the author(s) of the article and does not necessarily represent the views of INSOL or INSOL Asia Hub. All content presented on LinkedIn by INSOL Asia is for the benefit and interest of the restructuring and insolvency community, and for general informational purposes only, and INSOL makes no representations as to the accuracy or completeness of any information contained in the article. INSOL posts do not constitute legal advice. Credits: Dentons Hong Kong LLP, Keith Brandt, Henry Li #insolvency #restructuring #hongkong

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The Hong Kong Stock Exchange (HKEX) recently published a consultation paper proposing changes to the Corporate Governance Code and related amendments to the Listing Rules. The proposed changes represent the continuous effort by the HKEX to upgrade its corporate governance framework from time to time, with the last round of changes to the Code having occurred only two years ago. The HKEX’s proposals apply equally to both issuers listed on the Main Board and GEM, the secondary board of the HKEX. Consultation deadline is 16 August CompliancePlus Consulting Limited is in principle supporting this HKEX consultation proposal and our submission is attached below that the key points are below: - we agree to the hard cap of six listed issuer directorships that an independent non executive director (INED) may hold - we suggest a hard cap of 7 years on the long serving INED https://lnkd.in/gABVr239

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Hong Kong's Proximity to Mainland China: Has It Become an Issue for Foreign Companies? In a recent interview with Bloomberg TV, Julia Charlton, a Hong Kong corporate finance lawyer, delved into the subject of whether Hong Kong's proximity to Mainland China has become an issue for foreign companies considering an IPO? Watch full interview here: https://cutt.ly/SejkuDno   #JuliaCharlton #HongKong #MainlandChina #BloombergTV #InternationalBusiness #LegalExpertise #MarketInsights

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MergersCorp M&A International partners with KOTRA SILICON VALLEY to help Korean companies secure M&A transactions Leading investment banking firm MergersCorp M&A International has officially announced a new partnership with KOTRA SILICON VALLEY, with aims to help Korean companies increase the number of overseas merger and acquisition transactions. The new strategic partnership is expected to help many more businesses create deals with international business owners and buyers, as well as assisting small and medium-sized Korean enterprises understand how to navigate the complicated world of mergers and acquisitions. With an exclusive focus on Cross Border merger and acquisitions, MergersCorp M&A International offers corporate advisory services for companies around the world. Currently number one in cross-border mergers and acquisitions, this new partnership with KOTRA SILICON VALLEY is expected to help more Korean companies carry out overseas transactions. This new partnership is expected to help many businesses throughout their corporate journey, and has even be described as a new working “relationship” that will help customers grow, succeed and build their business far beyond their expectations. “Here at MergersCorp M&A International, we help our clients confidentially buy and sell property held businesses, aligning those interests of all parties for mutual success, growth and dedication,” says Stefano Endrizzi founder of MergersCorp M&A International. “Now though, this process is about to become far more popular with Korea, with the help of KOTRA SILICON VALLEY and ourselves. We assist many small and medium sized businesses, however, it’s imperative that the company is already on-track to becoming a huge success. If the company still wishes to merge or be part of acquisitions, then we, alongside the help of KOTRA SILICON VALLEY, will assist them on every single step of the way said Edward Sklar, COO from the Wall Street Office of MergersCorp M&A International. Expected to increase the number of exports, mergers and transactions with overseas business-owners and buyers, this collaboration between MergersCorp M&A is said to be the one-stop solution to increasing the number of transactions from overseas. Notes to Editors Amid the new global economic paradigm and changes in the industrial ecosystem, KOTRA SILICON VALLEY is the strength of small and medium businesses. To contact KOTRA SILICON VALLEY, or request an interview, please visit: https://lnkd.in/e9DdXpCy MergersCorp M&A International is a leading banking firm with a huge focus on M&A and corporate advisory services worldwide. To contact MergersCorp M&A International, or request an interview, please contact: [email protected] Ed Sklar MergersCorp M&A International +1 212-210-1940 #kotra #mergerscorp #korea #usa #siliconvalley

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Big Four Japanese firm Mori Hamada & Matsumoto has partnered with litigation funder LCM to represent Japanese investors bringing international arbitration proceedings against Switzerland, seeking compensation over the $17 billion write down of Credit Suisse AT-1 bonds in March last year. Mori Hamada says together with LCM it has gathered a class of Japan-only investors who are looking to claim approximately $150 million. The basis of the claim would be a treaty called the Japan-Switzerland Economic Partnership Agreement (JSEPA), which provides legal protections to Japanese investors who have invested in Switzerland and, in particular, grants Japanese investors the right to enforce their rights through arbitration directly against Switzerland, Mori Hamada lawyers explained. The JSEPA provides for disputes to be resolved under the International Centre for Settlement of Investment Dispute (ICSID) Rules or the United Nations Commission on International Trade Law (UNCITRAL) Rules. Leading Mori Hamada on the matters are partners Daniel Allen, an international arbitration specialist with substantial experience in investment treaty-related disputes, Mugi Sekido, who acts on high-stakes international arbitration and class actions, and Atsushi Oishi, the firm’s wealth management and tax specialist. First contact from investors who were affected by the writedown of the bonds came through Oishi and Sekido, Allen told Law.com International. Full story from Jessica Seah: https://lnkd.in/ebjguYAi

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| 𝐏𝐮𝐛𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 | 𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐧𝐞𝐰 𝐋𝐚𝐧𝐝 𝐚𝐧𝐝 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐋𝐚𝐰 𝐨𝐧 𝐌&𝐀 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬 The article is made in collaboration between VCCI-HCM and HM&P Law Firm. In this article, Lawyer Nguyen Nhat Duong and Vu Trung Thanh (HM&P) will mention some positive impacts of the new Law on Land 2024 and the Law on Real Estate Business 2023 on M&A deals in the coming period. Besides, this article was published in the Legal Electronic Magazine on May 7, 2024. Read more at: https://lnkd.in/ghzthytj #hmplaw #lawfirm #LawonLand #LawonRealEstate #MAtransactions #VCCI

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Ogier in Hong Kong advised CCCI Treasure Limited on the issuance of three offshore Renminbi green bonds, totalling more than RMB7.1 billion. CCCI Treasure Limited is an offshore subsidiary of China Communications Construction – a leading global infrastructure integrated service provider. The Ogier team in Hong Kong was led by partner Cecilia Li, with support from the firm's global head of Corporate Nathan Powell, associate Randa Leung, legal manager Kingston Tang and paralegal Josie Ma . Cecilia said 📢: "We were delighted to assist one of the largest Chinese central state-owned enterprises in this bonds issuance. This manifests Ogier's expertise in the steadily growing offshore green bonds market." Link in comments below to learn more 👇. #SustainableFinance #ESG #CorporateLaw #BankingAndFinance #HongKong

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The Hong Kong Court of Appeal has issued twin decisions applying the seminal 2023 CFA decision in Re Lam Kwok Hung Guy ([2023] HKFCA 9) to applications to stay winding up petitions involving claims subject to arbitration. In Guy Lam, the CFA applied a “multi factorial approach” when staying a bankruptcy petition subject to a New York exclusive jurisdiction clause (ECJ). Parties are generally to be held to their contracts and agreed dispute resolution, and no summary judgment exercise should be undertaken. But an ECJ cannot exclude the courts’ jurisdiction and the public element in insolvency situations is taken into account. In Re Simplicity [2024] HKCA 299 the HKCA applied Guy Lam to the winding up petition claim, calling it an even stronger case given the statutory footing of the (pro) arbitration regime. Any requirement for the debtor to show a genuine intention to arbitration is applied flexibly. Applying that to the facts, the appeal against the winding up order was dismissed, given a history of delay and non compliance with conditions. In Arjowiggins v Shandong Chenming [2024] HKCA 352 the HKCA applied Guy Lam to the more complex situation where the debtor does not dispute the petition debt but raises a set-off or cross claim seeks to stay to that to arbitration, affirming the stay.   Re Simplicity https://lnkd.in/dsb2CgNz    Shandong Chenming https://lnkd.in/dSb4Rw9E   #arbitration #commerciallitigation #internationalarbitration #hongkonglaw

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MPF Ratings today released its July MPF Performance Survey, pointing out that total MPF assets have reached a new record all-time high on the back of MPF’s 5th positive performance month this year. Aided by approximately $6.8bn in performance earnings in July, average MPF account balances are now approximately just under $260,000 at $259,900. The Nasdaq entered correction territory, a warning that MPF members have too much to lose if they get market timing wrong. Find out more here: https://lnkd.in/g5RNs35e #mpfratings #MPFScorecard #MPFHealthCheck #MPFFastMover #MPFRConsistentPerformers #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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We are delighted to share that Dentons Hong Kong partner Vivien Teu and managing associate Vincent Chan were invited to be the contributors of the Hong Kong chapter for Lexology Panoramic: Fund Finance 2025. In the publication, Vivien and Vincent shared their views on the structure and purpose of fund financings; transaction parties; due diligence; credit support; borrowing base; financing documentation terms; remedies and enforcement; other legal and regulatory issues; and recent trends in Hong Kong. To view the full chapter: https://lnkd.in/eMD5r7RN #Dentons #DentonsHongKong #Lexology #FundFinance #Legal #Regulatory

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Spurred by their concerns over increasing misconduct by listed companies related to money lending transactions, key Hong Kong regulatory bodies, including The Stock Exchange of Hong Kong Limited (HKEx), the Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC), have issued various guidelines setting out their expectations on listed companies during various stages of money lending transactions. These guidelines reiterated the need for listed companies to maintain and implement effective internal control systems and ensure adequate and timely public disclosure. In this newsletter, our HKCRP team underscores key compliance requirements on listed companies when conducting money lending transactions. Peter Po Kwong Yuen Christina Fu Howard Chan

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