What is the difference beteeen the two? Why go through mediation instead of applying to high court?
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Oski
10 yrs ago
By "mediation" I guess you mean "claims tribunal".
It is Hong Kong's version of small claims court.
Compared to a full High Court law suit, the claims tribunal is quicker.
There is a maximum limit, HKD 50,000. (exceeding this amount must go to high court.)
Neither side can be represented by lawyer. (a lawyer can sit with you, but cannot speak for you.)
if you win, you win a judgement, not enforcement.
i.e. if the loser does not pay, the winner has to go to high court for enforcement.
the process is by no means painless, but it is simpler than a full high court case.
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Nope, mediation is before going to court. It will help both parties save money (on lawyers and other expenses), and the government saves court costs and time.
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My bad! I was meaning "Special International Arbitration Counsel", as per below link vs "High Court".
Why woukd they not go directly to high court?
http://www.enviro-energy.com.hk/uploads/files/LTN20140428113.pdf
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Oski
10 yrs ago
In general concept, mediation and arbitration are "informal court"
basically the two sides agree to bring their argument before a qualified neutral third party and get an opinion.
Arbitration is usually more "formal" than mediation, if "binding arbitration" is used, then both parties are obligated to accept the result.
Sometimes when entering into a contract, the two parties pre-specify mediation or "binding arbitration" to settle dispute if any arises.
These are designed to reduce legal costs.
Because these are informal courts, both parties must agree before it can proceed.
(in full court cases, sometimes judges order the two parties to enter into mediation or court supervised mediation to lighten court case load.)
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Courts these days are keen to have parties resolve their disputes without recourse to the Courts and even if mediation is not provided for in a contract, Courts will see if parties can resolve matters without the cost and time of litigation.
With regard to the difference between mediation and high court lawsuit, the former involves the participation of a neutral third party (a mediator) who assists the parties to negotiate and reach settlement for their disputes while the latter involves argument to be decided by the high court, through a formal process of rules.
Experience has shown that mediation is a cheaper, faster and more effective process for resolution of disputes. The process is private and confidential. Since the participation in mediation is voluntary and the result attained is mutually agreeable, the parties concerned have a higher degree of control of the mediated agreement and is more likely to comply with the result.
Weir & Associates
Solicitors & Notaries
16th Floor Tak Shing House
20 Des Voeux Road Central
Central
Hong Kong
Tel : 2526-1767
Fax : 2868-3568
Email : WeirLaw@WeirandAssociates.com
www.WeirandAssociates.com
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MissYoung2008, you could go to Commercial Crimes Division of Hong Kong Police, and also Securities and Futures Commission which regulates all Hong Kong stock listed companies.
With your statememt, it already confirms insider trading for disclosing the Li Ka Shing exchangable note before public announcement.
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Let the Police investigate all the other accusations. If proven, you can sue the stock listed company, it's CEO, it's past and present Auditor for failure to detect these fraud from due diligence they are expected as Big 4 Auditors of stock listed companies.
Don't worry girl, were all here to help you !
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I too have loss money in 1102 Enviro Energy stock. Any investigative journalist here too to confirm some facts? Anyone here from SFC or Commercial Crimes Division?
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