Partner Nils Eliasson (Hong Kong-International Arbitration) participated in a webinar titled “Protecting your interest through interim relief from Mainland Chinese courts.” The webinar was organized by the Hong Kong International Arbitration Center (HKIAC) in the context of Paris Arbitration Week.
Two years after the entry into force of the Honk Kong-PRC Arrangement on Interim Measures, it is clear that this instrument is a game changer. The Arrangement, which provides that parties to arbitral proceedings seated in Hong Kong may apply to Chinese courts for interim relief in support of the arbitration, has led to the issuance by Chinese courts of over 30 decisions, covering the preservation of assets, evidence and conduct.
“My experience and, more importantly, that of my clients, has been overwhelmingly positive,” commented Eliasson. “The Arrangement has significantly reduced uncertainty for all companies doing business in Mainland China.”
Hong Kong is a major arbitration hub and the only jurisdiction outside of Mainland China where parties can get support from Chinese courts in relation to interim measures of protection in support of the arbitration. “As a result, many of our U.S. and other clients—including multiple tech companies—are amending the dispute resolution clauses in their contracts, providing for arbitration with the seat in Hong Kong to take advantage of this extremely useful development,” added Eliasson. “I have no doubt that many more will follow suit.”
Nils Eliasson has been based in China for the past 12 years and has acted as counsel or arbitrator in numerous commercial and investment treaty disputes related to China. He is widely considered as a leading practitioner for such disputes. He serves as Vice-Chair of HKIAC and chairs the HKIAC Proceedings Committee. He also is a member of the Hong Kong Government Advisory Committee on Arbitration. According to a recent survey, HKIAC is among the five most preferred arbitral institutions worldwide.
Watch the full webinar:
View Nils Eliasson’s contributions: