SINGAPORE - Safety fears in Hong Kong have prompted firms to shift arbitration hearings out of the Chinese-ruled city, industry sources said, another sign that pro-democracy protests are denting its appeal as an international business hub.
International firms in dispute look for neutral sites with trusted legal systems for arbitration, and the parties involved decide where to hold hearings and which jurisdiction's rules should be used. Lawyers say at least two other cases have moved their hearings from Hong Kong to Singapore because of the unrest, adding that more could follow.
"There are some cases - some hearings - that have shifted just for short-term practical reasons," said Singapore-based barrister Toby Landau, adding that he knew of two or three cases that had moved from Hong Kong to Singapore.
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