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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Executive Summary – It is possible to collect some judgements from foreign countries in Hong Kong. There are numerous requisite conditions as we will explain. It is a difficult, time consuming and expensive process with less than desirable odds of success.
Corporate Bank Accounts and Foreign Judgments – All of our client's bank using anonymous corporations. It is impossible to look up the names of the owners of these corporations in any public registry or database. Just because money was wired to a corporate bank account in Honk Kong does not mean you are the owner of the Hong Kong bank account even if your home country bank account sent the money. You might have been buying real estate, making an investment, making a loan, buying a car, buying a boat etc. If a person has a personal debt in their home country it does not mean that this debt is going to transfer to a corporate bank account. A corporation is a separate judicial person (an artificial person) that has it's own debts and liabilities. Just because you own the shares of stock does not transfer your personal debts to the corporation. It does not work that way. So right of the top the odds are greatly in your favor.
Foreign Judgment Reciprocity – For a foreign judgment to be enforceable in Hong Kong the two countries must have a reciprocal relationship. That means a judgment in Honk Kong would be just as enforceable in that country. Here is a list of the countries that have such a reciprocal relationship with Hong Kong:
Belgium, France, Federal Republic of Germany, Republic of Italy, Republic of Austria, Kingdom of the Netherlands, Israel, Bermuda, Brunei, India, Malaysia, New Zealand, Singapore, Sri Lanka, Australia, Christmas Islands, Cocos Island.
Note: The USA, UK and Canada are not on the list of countries with judgement reciprocity with Hong Kong.
A large amount of clients will not have to be concerned about judgments from their home country being enforceable in Hong Kong on the reciprocity issue alone. If the judgment is from a country not on the above list it can not be enforced in Hong Kong.
Other Foreign Judgment Conditions for Hong Kong Enforceability – These other conditions apply if the reciprocity issue allows the judgement to otherwise be collectible in Hong Kong:
1) The judgement must be final. All rights to appeal have expired.
2) Hong Kong tends to only recognize a judgment from a “Superior Court” not lesser courts.
3) The court had lawful jurisdiction. Think venue and authority, some limited room for a defense here.
4) The judgment debtor got service of the case according to the laws of the country where the judgment was issued and he must have had sufficient time to respond in the event he did not appear (default). What is sufficient time is not stated? If service was not personal, it seems this can be used to dismiss the case based on a lack of sufficient notice.
5) The judgment was not obtained by fraud. Think a defense lies right here that could be exploited big time in many cases.
6) The judgment may have been illegal in the jurisdiction it was issued in. This can make a retrial of the case possible if one is creative enough and the facts lend itself to this. Imagine the expenses when the other side has to hire a Hong Kong lawyer and a home country lawyer.
7) If the matter was already adjudicated in another court previous to this court that issued the judgement in question it is disqualified.
8) The court issuing the judgment shall be deemed to not have good jurisdiction if the subject matter of the judgment was immovable property (real estate) outside of the jurisdiction of the country of the court issuing the judgment.
9) If the debtor was entitled to diplomatic immunity and yet was named in the judgment, that judgment would not be enforceable in Hong Kong.
10) They have a 6 year limit on the age of the judgment.
Summary – The thing to remember is personal debts do not readily or easily transfer to corporations in other jurisdictions. Enforcing a foreign judgment is generally difficult, time consuming, expensive and full of pitfalls that can prevent any collection efforts from being successful. Most of you will not be affected due to the reciprocity issues with Hong Kong.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
