The Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters was signed between China and HKSAR in January 2019. This arrangement helps to skip the process of re-litigation and speed up account receivables collection in China by Hong Kong corporates.
Different from Western countries, debt recovery can only be conducted by lawyers using legal means. Nevertheless, as the judicial system in China continues to develop, China has set up a mechanism to punish and shame the defaulters. As long as they are unable to pay their debt according to the judgment, the defaulters will be placed on "the credit blacklist" and be forced to auction their assets (including bank accounts & deposits, income, pensions, claims, property and real estate etc.) This Arrangement has significantly enhanced the confidence level of Hong Kong / foreign corporates to leverage legal means for debt recovery.
RMS’ paralegal / litigation services in China
As one of the global leading account receivables management company, RMS has established strategic partnerships with some of the China's largest law firms. We provide paralegal and litigation services to clients worldwide, including:
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