Firms move legal battles from protest-hit Hong Kong in fresh setback for business

  • 📰 Reuters
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Safety fears in Hong Kong have prompted firms to shift arbitration hearings out ...

SINGAPORE/HONG KONG - Safety fears in Hong Kong have prompted firms to shift arbitration hearings out of the Chinese-ruled city, industry sources said, another sign that pro-democracy protests are denting its appeal as an international business hub.

Lawyers and other legal professionals told Reuters the unrest also risks undermining the city’s position as one of the world’s top centers for arbitration - a process of settling disputes outside the public court system - with cases moving to rival Singapore. Australian mining firm Kingsgate said last month it had moved hearings related to a dispute with the Thai government from Hong Kong to Singapore early next year over safety concerns.

Sarah Grimmer, Secretary General of the Hong Kong International Arbitration Center, declined to comment. But she said the center’s case numbers were at a record high, up 20% from this time last year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines