About the Webinar
Hong Kong is due to implement reforms later this year to enable parties to enter into outcome related fee structures (“ORFSs”), also known as “No-Win, No-Fee” and “No-Win, Low-Fee” agreements, with their lawyers for arbitrations and certain court proceedings. This presentation will consider the opportunities and challenges that Hong Kong’s ORFS reforms will provide for arbitrating parties and their lawyers, and compares Hong Kong’s reforms to similar reforms recently enacted in Singapore.
- What are ORFSs?
- Conditional Fee Agreements (CFAs);
- Damages Based Agreements (DBAs); and
- Hybrid DBAs.
- Why are ORFSs important?
- Key arguments raised by the Hong Kong Law Reform Commission’s Sub-Committee on ORFSs, including that reforms are necessary to remain competitive with other popular seats of arbitration.
- Key features of Hong Kong’s ORFSs reforms?
- Which ORFS are allowed?
- Who can use ORFS?
- What can ORFS be used for?
- What safeguards will apply to the use of ORFSs?
- Opportunities and challenges of ORFSs for arbitrating parties and their lawyers?
- How do Hong Kong’s ORFSs reforms compare to Singapore’s new Conditional Fee Agreement regime?
- Concluding remarks.
About the Speaker
Shearman & Sterling
Edward Taylor is counsel in the International Arbitration department of Shearman & Sterling’s Hong Kong office. He represents and advises companies, States and State-owned entities in commercial arbitration and investment treaty disputes. His practice includes disputes related to energy, infrastructure, joint ventures, M&A, private equity, TMT and real estate. He is dual-qualified in Hong Kong (solicitor) and England and Wales (solicitor advocate). He is a Fellow of the Hong Kong Institute of Arbitrators (FHKIArb) and the Chartered Institute of Arbitrators (FCIArb).