CHANGES TO THE HKIAC RULES
CD: To what would you attribute Hong Kong’s appeal as a venue for arbitration? Has this changed in recent years?
Stackpool-Moore: Hong Kong is a world city with a truly unique international status which makes it an ideal venue for the conduct of international arbitrations. At the heart of Asia, one of the most dynamic regions in the world today, Hong Kong is a financial and commercial powerhouse, benefitting from a wealth of experience arising from its long-established arbitration tradition. Uniquely positioned as part of, but completely independent from, China, Hong Kong is able to offer a neutral and attractive forum for arbitration. Steeped in the Rule of Law, Hong Kong’s judiciary is strong, independent and undoubtedly pro-arbitration. Hong Kong enjoys an unrivalled pool of arbitration expertise – including practitioners, experts and institutions – from which to draw. Some of the recent changes which have helped to make Hong Kong even more attractive as an arbitral venue relate to its adoption of a modern and progressive legislative framework based on the UNCITRAL Model Law, including amendments which allow for the enforcement of decisions, orders or awards of emergency arbitrators, the availability of newly renovated state-of-the-art hearing facilities at the HKIAC and the opportunity, from November 2013, to use the very best and most comprehensive set of institutional rules available on the market.
Bateson: Hong Kong is uniquely situated as a gateway to the vast resources of the PRC, and North Asia. It maintains an independent judiciary under the Basic Law; and the judiciary is pro arbitration, and protects the autonomy of arbitration. It has a unitary system of arbitration, based on the UNCITRAL Model Law. Hong Kong has an internationally recognised arbitration centre, the HKIAC, with superb facilities, recently upgraded. Recently, many international firms have built up their arbitration presence in Hong Kong to try to get a piece of the action.
Oct-Dec 2013 issue
Peter Yuen & Associates
King & Wood Mallesons