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  • 4 - The Resolution of International Commercial and Financial Disputes

  • from A - General Trends
  • Edited by Anselmo Reyes, Weixia Gu, The University of Hong Kong
  • Book:
    Multi-Tier Approaches to the Resolution of International Disputes
    Published online:
    09 December 2021
    Print publication:
    16 December 2021, pp 92-109

  • 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).