Legal 500 has published its Asia Pacific 2022 guide and Gall is ranked as a Leading Firm for Litigation (Band 4), Labour & Employment (Band 4) and Restructuring & Insolvency (Band 5).
Gall recently obtained a proprietary injunction in Hong Kong for its clients, Ms Zhao Long and a British Virgin Islands (“BVI”) company Endushantum Investments Co., Ltd. (“Endushantum”) in a complex cross-border dispute involving the shareholdings in Lunan Pharmaceutical Group Corporation (“Lunan”), a significant PRC pharmaceutical company, and other group companies (collectively, the “PRC Shares”).
Shareholders’ disputes, in some cases, are like a divorce according to Gall Consultant Kenix Yuen. Business partners work for years together, and eventually build up a successful business empire, only to find that it is time to go separate ways. In the unfortunate event that the break-up is painful and shareholders have to proceed with unfair prejudice proceedings, what would be the relevant considerations during the process of valuation if a buy-out order is made in the Hong Kong court?Kenix Yuen explores this in her article for In-House Lawyers’ Autumn 2019 issue.
It is common for parties to a commercial contract to insert a clause stating that “all variations to the contract must be agreed, set out in writing and signed on behalf of both parties before they take effect” (commonly known as a “No Oral Modification” or “NOM” clause). If the parties subsequently have a purported oral agreement to vary a particular term of the contract but do not say anything about the NOM clause, will such a variation be effective?