22 July 2022
The Department of Justice (DoJ) recently announced the appointment of DVC member Dr Benny Lo, as one of the four members of an Advisory Body on Outcome Related Fee Structures for Arbitration, pursuant to section 98ZT(1) of Part 10B of the Arbitration Ordinance (Cap. 609). The appointment commenced on 15 July 2022 and will be effective for a period of three years.
The Advisory Body is responsible for monitoring and reviewing the operation of the provisions on outcome-related fee structures for arbitration (ORFSA) and exercising various powers under section 98ZM of the Arbitration Ordinance (Cap. 609), including making rules to specify the general and specific conditions to be met by ORFSA agreements.
For details and the full list of members of the Advisory Body, please refer to DoJ's announcement here.
As an experienced counsel and international arbitrator in commercial, investor-state and sports arbitrations, Dr Benny Lo previously served as a member of The Outcome Related Fee Structures for Arbitration Sub-committee of the Hong Kong Law Reform Commission which released a final report in December 2021 recommending legislative changes permitting lawyers to use outcome related fee structures for arbitration in and outside Hong Kong. Dr Lo's continued involvement in this arena, as part of the Advisory Body, serves to ensure that the rules and subsidiary legislation governing this regime reflect international best practices and serve the public interest at large.