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4 - The Resolution of International Commercial and Financial Disputes

Hybrid Dispute Resolution in Hong Kong

from A - General Trends

Published online by Cambridge University Press:  09 December 2021

Anselmo Reyes
Affiliation:
Singapore International Commercial Court and Doshisha University, Kyoto
Weixia Gu
Affiliation:
The University of Hong Kong
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Summary

This chapter provides a general framework for understanding the use of multi-tier dispute resolution (MDR) in Hong Kong. The use of MDR is important towards maintaining Hong Kong’s status as an international dispute resolution centre, especially as there is increasing competition from strong regional dispute resolution centres such as Singapore and emerging dispute resolution hubs like Shanghai, Shenzhen and Dubai. This chapter demonstrates that Hong Kong’s policy-makers need to expend significant effort incentivising the use of MDR to maintain Hong Kong’s appeal, providing parties with cheaper and more flexible options. This chapter first provides a comprehensive and critical account of the use of med-arb to resolve financial disputes in Hong Kong. Second, it explores the use of med-arb to resolve financial disputes in Hong Kong – from the Lehman Brothers Scheme to the establishment of the Financial Dispute Resolution Centre (FDRC). Third, it covers recent developments in Hong Kong (including the potential impact of online dispute resolution and the Singapore Convention on hybrid dispute resolution).

Type
Chapter
Information
Multi-Tier Approaches to the Resolution of International Disputes
A Global and Comparative Study
, pp. 92 - 109
Publisher: Cambridge University Press
Print publication year: 2021

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