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Authored by: KK Cheung and Genevieve Lam
On 15 December 2021, the Outcome Related Fee Structures for Arbitration Sub-committee of the Law Reform Commission published a report recommending the lifting of the prohibition on the use of outcome related fee structures (ORFS) by lawyers in arbitration taking place in or outside Hong Kong. For details of different types of ORFS, please see the article in our February 2021 newsletter.
Highlights of the Commission’s recommendations
The Commission recommends:-
All major arbitral seats permit some form of OFRS nowadays. The law reform relating to ORFS for arbitration should therefore attract more contracting parties to choose Hong Kong as the seat of arbitration and maintain Hong Kong’s competitiveness as a leading arbitration centre.
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