Legal briefings from the world's leading law firms

The May edition of DLA Piper's Asia corporate newsletter focuses on recent consultations on connected transactions, listing decisions on reverse takeovers, new guidance for listing disclosures for mineral companies, review of disclosures in annual reports and the latest developments in the PRC.

The burden of defining trade secrets in employment contracts and other agreements ultimately rests with the company. The courts in Hong Kong have shown an unwillingness to permit companies to use implied restrictive covenants and trade secrets that restrict freedom of employment and competition.

On 30 April 2013, the Court of Final Appeal handed down a landmark decision dismissing the appeal of Tiger Asia Management LLC and three of its officers. The Court also upheld the rights of the SFC to seek remedial orders to combat market misconduct and protect investors.

On 1 February 2013, the PRC Supreme Court issued its Interpretation on 'Trials of Labour Dispute Cases'. The Interpretation addresses important issues relating to non-competition, which could potentially impact on the non-competition practice of foreign companies operating in China.

The REJA or "Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters" provides a legal basis for PRC courts to enforce judgments from Hong Kong. Effectively, it allows common law courts to enforce in China. DLA Piper outlines how the REJA works.

DLA Piper's Asia corporate newsletter covers the latest on Hong Kong's Companies Ordinance rewrite; the consultation conclusions on trading halts for disclosure of inside information; converting B shares into H shares and listing by way of introduction; and key developments from the PRC.

India's 2013 Union Budget comes during a time of lower economic growth, persistent food inflation, a burgeoning fiscal deficit and current account deficit. DLA Piper sets out the key highlights and asks whether the implemented measures will make India a more business-friendly investment destination.

DLA Piper's Asia corporate newsletter covers the latest on Hong Kong's Companies Ordinance rewrite; new guidance on simplifying disclosures in listing documents; guidance on cornerstone investors; and lastly, new PRC safe regulations to simplify foreign exchange administration.

This briefing provides a general overview of the relevant securities law in Australia, China, Hong Kong and Japan. It outlines that only some security interests require registration, that there are no central registries, and that the schemes employ a form over substance approach.

The Supreme People's Court recently published a Fourth Interpretation on 'Certain Issues regarding the Law Applicable to Labour Dispute Cases'. Taking effect immediately, the new Interpretation addresses such important issues as non-competition, contract amendments and foreign nationals in China.