Typical cases of Qingdao intermediate people’s court optimizing the business environment under the rule of law
Assisted in the preservation of property in the arbitration proceedings — the first time to handle the Hong Kong arbitration case according to law and promote the settlement of property preservation
In April 2019, the applicant in Hong Kong signed a sales contract of nearly 100 million yuan with a logistics company of the respondent in Qingdao and a group company in Qingdao. During this period, disputes occurred between the parties, and the applicant in Hong Kong filed an arbitration with the Hong Kong International Arbitration Center. During the arbitration, the applicant filed an application for property preservation, and the Hong Kong International Arbitration Center issued relevant documents in accordance with the provisions of the arbitration preservation arrangement of the Supreme People’s court, which were transmitted to Qingdao intermediate people’s court together with notarized materials such as the application for property preservation. After examination, Qingdao intermediate people’s court held that the property preservation application submitted by the applicant complied with relevant laws and regulations, ruled to grant it within one week after receiving the transmitted materials, and took preservation measures in accordance with the law in time. After being informed, the respondent took the initiative to contact the applicant. The two parties reached a settlement the next day after preservation, and the respondent immediately performed its debts.
This case is the first typical case of adopting preservation measures according to law for property preservation cases in Hong Kong arbitration procedures. After the applicant applied for property preservation, the court quickly made a ruling granting preservation according to law, which not only promoted the successful resolution of Hong Kong related commercial disputes in the preservation stage of the arbitration procedure, but also provided strong judicial support for promoting arbitration to play an important role in the diversified dispute resolution mechanism. It is a beneficial practice of adhering to the principle of jointly resolving commercial dispute.