Shuai Guo speaks at Global Bankruptcy Scholars’ Work-in-Progress Workshop in Brooklyn Law School, New York
Shuai Guo, PhD candidate at Company Law and the Hazelhoff Centre for Financial Law, was invited to speak about his research on cross-border bank resolution, with a comparative analysis of the EU, the US and China, at the Global Bankruptcy Scholars’ Work-in-progress Workshop held on 20-21 September at Brooklyn Law School, New York.
During his presentation, Shuai talked about the mechanism to recognise foreign resolution actions. He framed his research against the background of the bank resolution rules that have been enacted subsequent to the latest global financial crisis in 2007/2008. He pointed out the problem of lacking a comprehensive cross-border resolution regime across the global, inter alia, the uncertainty of giving effect to foreign resolution actions. By comparing the three largest economies in the world, namely, the EU, the US and China, he drew the preliminary conclusion that although each jurisdiction has certain mechanism to recognise foreign resolution actions, the present legal solutions cannot adequately address the complex and unique cross-border bank resolution issues. He posed concerns on the legal grounds for recognising foreign resolution actions, the tradeoff between international financial stability and local financial stability, and the balance of treatment of domestic and foreign creditors on a non-discriminatory basis. He intends to formulate a set of legal rules to recognise foreign resolution actions, including the determination of jurisdiction, the conditions and effects for recognition of foreign resolution actions, and the public policy exception grounds for refusal of recognition.
Shuai was kindly invited to speak at Brooklyn Law School by Prof. Edward Janger from Brooklyn Law School and Prof. Jay Westbrook from the University of Texas at Austin Law School and sponsored by the International Insolvency Institute (III), of which he is a NextGen member for his award-winning paper in 2018. III is a non-profit, limited membership organisation dedicated to advancing and promoting insolvency as a respected discipline in the international field.