Mediation Gains Traction In Hong Kong’s Legal Landscape
Hong Kong has long attracted business to its shores thanks to its robust, independent and highly respected legal system. Investors enjoy a high degree of confidence that they will be able to resolve their disputes through litigation and arbitration. Hong Kong, however, has been trying for more than a decade to grow the commercial space’s appetite for mediation as an alternative dispute resolution (ADR) mechanism.
Mediation has several clear advantages when it comes to resolving commercial disputes. Not only is it faster, more efficient and confidential it is also non-binding and allows companies to engage in without prejudice discussions prior to launching litigation.