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Alert 336 Hong Kong - shadow companies amendments brought forward
The Hong Kong Government recently issued a set of legislative proposals dealing with the problem of 'shadow companies', slated to be introduced into a new bill amending the Companies Ordinance. The proposals were developed following the conclusion of a public consultation on the problem and, if all goes well, are expected to become law in the second half 2010. The timescale for the amendments has been brought forward due to a growing recognition of the scale of the problem posed by shadow companies to brand owners.
The problem can be dealt with one of three ways:
- By asking the companies registrar to change the company's name because it is 'too like' that of another company - but this only works in the first 12 months after registration;
- By requesting the registrar to strike off the company for being defunct - but the applicant has a very high burden of proof to show that the company is not carrying on any business, worldwide;
- By suing the shadow company for trade mark infringement or passing off.
Because dealing with the registrar is often difficult, due to its strict interpretation of its powers, court action is often preferred. In most cases the absent directors will not contest proceedings, so default judgment can be obtained relatively quickly. But at present, company names can only be changed by shareholders' resolution and naturally the shareholders are also absent and do not act.
Cleverly drafted court orders have been deployed to get around this: for instance, they may give the rights holder's solicitors power to sign the name change resolution if the shareholder defaults. But obtaining such court orders is time consuming and costly, and not always reliable.
The proposal will form part of a new draft bill, expected in Q4 2009. This bill was scheduled to become law in 2011/12, but is now expected for mid-2010. The date was brought forward once the Government recognised the seriousness of the shadow company problem: consultation respondents urged change, as did the Japanese and United States (US) Governments, who were concerned that Hong Kong's shadow companies are facilitating infringement in China and frustrating enforcement efforts.