Des Voeux Chambers is delighted to have co-hosted a lunch seminar on 15 December 2022 with the Hong Kong International Arbitration Centre (HKIAC) on one of the hottest topics in the Hong Kong construction industry, namely the Hong Kong Security of Payment Scheme. The event, which was well received with full-house attendance, was one of the first in-person seminars at HKIAC.
The seminar started with a brief presentation by Kaiser providing an overview of the Hong Kong Security of Payment Scheme, including its nature and purpose as well as the status of the legislative process of the Scheme in Hong Kong. Kaiser also explained the mechanism of adjudication under Hong Kong’s current contractual Security of Payment Scheme, the scope of disputes subject to adjudication, the nature of adjudication decisions and their relationship with existing dispute resolution mechanisms.
The presentation was followed by an interactive session, moderated by Eric Ng, Deputy Secretary General of HKIAC, amongst the panellists and the audience. The panellists discussed various interesting and thought-provoking topics, including the enforcement of adjudication decisions and its relationship with winding up proceedings. Speakers also shared useful practical tips in preparing for the adjudication scheme.