There are important decisions to make regarding the appointment of the arbitrator(s) and the rules that will apply to the dispute resolution proceedings
Before arbitrating legal disputes, it’s important to understand how its unique procedural and award system make it a popular alternative dispute resolution.
It is reassuring for settlors to know that the Hong Kong courts hold professional trustees to a very high standard when exercising their fiduciary duties. Strong protection from the courts may be another reason why professional trustees may be preferred.
If you would like to carry on your family business for successive generations and you feel that the retention of such shares is of utmost importance and that you do not want a third-party trustee to interfere with the management of the business, then a PTC or a VISTA Trust may be the solution for you.
The major hurdle is finding the right trustee since there is no standard answer as the wishes of the settlor, family circumstances and asset picture or holding structure can all affect the choice of trustee.
There are different types of trusts for different purposes depending on the settlor’s needs and goals, while the essential characteristic of all trusts is the separation of legal and beneficial ownership.
In the modern days when even chivalry has been pronounced dead by many, trusts remain relevant, especially for those who wish to protect family wealth and plan for succession.
Sometimes the judgements can only be satisfied after they are enforced, and the winning party has different options how to do this in Hong Kong.
Basic 101 guide to litigation in Hong Kong: before and during the trial, including the eventuality of appeal and guidance about legal costs.
Basic 101 guide to litigation in Hong Kong: from starting a claim to case management, including pleadings, interlocutory proceedings and evidence.