Last Friday, our partner HU Xing and Jonathan CHAPON from Abacare spoke about personal liabilities for foreign executives in China as a followup to their successful Da Wo RRR Breakfast Meeting last year.
The event, co-organized by DaWo, the Benelux Chamber of Commerce East China | Shanghai, and Abacare Group Limited, received lots of positive feedback from its diverse group of attendees, which included people from across the C-suite level such as CEOs, senior managers, heads of department, board chairs, etc. The two experts focused on agile strategy to avoid personal liabilities and how to remain resilient from both legal and insurance perspectives. On top of that, they took a dive into recent developments in China regarding executives’ civil and administrative liabilities.
As we found out, where companies initiate civil claims against executives, nearly 30% of them eventually choose to withdraw the case and seek a solution outside court. In terms of regulations and compliance for companies, the authority has recently placed higher demands on executives working in areas such as cyber-security, social media, healthcare and finance. We therefore recommend that companies and executives shall work together to address potential risks by setting up fundamental rules on how to appropriately respond to civil liability and administrative regulation, and by maintaining effective and quick communication when risks arise.
We were honored as usual to host and participate in such a useful event and look forward to more in the future. DaWo Law Firm Shanghai has significant experience in this area, handling cases involving white-collar crime, executive personal liability, and beyond. If you would like to know more about this event or have any questions, feel free to contact us.
Please click here to view the slides of Xing HU’s presentation on our website.