Thu Apr 1 BST (over 1 year ago)
In your timezone (EST): Thu Apr 1 8:00am - Thu Apr 1 9:00am
Demand for borrowing increases in tough economic times. For those who are not familiar with the relevant legal framework in Hong Kong, lending money to others can be risky. When borrowers default, it is common for them to challenge the loan agreements, mortgages and guarantees in Hong Kong courts. Subsequent debt recovery can also be tricky and challenging with various legal and practical issues coming into play.
In this webinar, we will discuss the common traps and pitfalls in money lending and enforcement actions as well as ways to mitigate the potential risks. We will discuss various issues including:
• Will you be considered a "money lender" under the Money Lenders Ordinance (MLO)?
• What are the consequences of being caught by the MLO?
• When will a loan agreement be unenforceable?
• What may affect the validity of a guarantee?
• Whether investments with guaranteed returns can be challenged as "illegal" loans in disguise?
• Can you take a mortgage as a security if you are not a money lender?
• What are the common modes of debt recovery and how do you decide amongst them?
• What are the practical points to note in commencing bankruptcy or winding-up proceedings?
Partner, ONC Lawyers