Better ways of resolving disputes in Hong Kong: some insights from the Lehman-Brothers Related Investment Product Dispute Mediation and Arbitration Scheme

Abstract

Following the collapse of Lehman Brothers in September, 2008 until December 23, 2009, the Hong Kong Monetary Authority (the “HKMA”) received 21,770 complaints from investors regarding the ways in which some banks were misselling Lehman Brothers-related investment products. On October 31, 2008, the HKMA announced the Lehman Brothers-related Investment Products Dispute Mediation and Arbitration Scheme (the “Scheme”), and appointed the Hong Kong International Arbitration Centre (the “HKIAC”) as its service provider.