Insolvency and Restructuring

Convenor: Professor Emily Lee

Professor Emily Lee‘s academic publications cover a wide range of research topics, including crowdfunding, financial technology (FinTech), regulatory technology (RegTech), financial inclusion, traditional banking, shadow banking, international financial regulations (particularly on Basel III), financial crises, anti-money laundering/countering, the financing of terrorism (AML/CFT) compliance by financial institutions, cross-border insolvency, Hong Kong-China cross-border insolvency, judicial recognition and assistance, Hong Kong insolvency law, Chinese insolvency law, comparative financial law and comparative insolvency law.

In support of development of this area, in 2006-2007, HKU awarded AIIFL and the Faculty of Law a Research Assistant Professorship in Insolvency and Restructuring.

Insolvency Training and Manuals Project – Philip Smart and Charles D. Booth designed the Diploma Course in Insolvency for the Hong Kong Society of Accountants (now the Hong Kong Institute of Certified Public Accountants). They also served as Co-directors for the course.

Publications related to the Professor Philip St. John Smart Memorial Lecture

The 3rd Professor Philip St. John Smart Memorial Lecture (17 November 2016, Hong Kong) was delivered by The Hon Mr Justice Jonathan Harris (Companies Court Judge of the High Court of Hong Kong). Following the memorial lecture, and requested by Justice Harris, Professor Emily Lee, Associate Professor of the Faculty, edited Justice Harris’ lecture notes for publication by the Hong Kong Law Journal which forms part of the HKU Law Faculty’s public lecture series by distinguished speakers. The resulting article, titled “Understanding Cross-Border Insolvency in the Hong Kong Context”, appears in the (2017) Hong Kong Law Journal, Vol. 47, Part 1, pp. 55-72​.

Charles D. Booth, ELG Tyler, Ludwig Ng and Terry Kan, The Hong Kong Corporate Insolvency Manual (fourth edition, 2018) by LexisNexis

Charles D. Booth, Stephen Briscoe and ELG Tyler, Hong Kong Corporate Insolvency Manual (third edition, 2015), (Published in association with the Hong Kong Institute of Certified Public Accountants) by LexisNexis

Charles D. Booth and ELG Tyler, Hong Kong Personal Insolvency Manual (second edition, 2010), published by Hong Kong Institute of Certified Public Accountants

Essays in Memory of Professor Philip St. John Smart, 1961-2008
Hong Kong Law Journal Volume 39, Part 1 of 2009
Introduction

• “A New Stage of Regional Judicial Assistance in Civil and Commercial Matters: Implementation of the Mainland Judgments Ordinance and Certain Issues Beyond”, Xian Chu Zhang
• “Quistclose and Romalpa: Ambivalence and Contradiction”, Lusina Ho and Philip Smart
• “Investigation of Insolvent Companies in Hong Kong: A Corporate Governance Crisis”, Philip Smart, Charles D. Booth & Stephen Briscoe
• “Remuneration of Provisional Liquidators & Liquidators under the Official Receiver’s Contracting-Out Schemes”, Emily Lee
• “Building a Framework to Address Failure of Complex Global Financial Institutions”, Douglas Arner and Joseph J. Norton
• “Recent Developments in the Shareholder’s Derivative Action: Hong Kong and Australian Perspectives”, Lee Aitken

Other Selected Publications

1. “Judicial Diplomacy in the Asia-Pacific: Theory and Evidence from the Singapore-Initiated Transnational Judicial Insolvency Network”, Journal of Corporate Law Studies, 20(2), pp. 389-420 (January 2020 published online; September 2020 print publication), Emily Lee & Eric C. Ip
2. “Problems of Judicial Recognition and Enforcement in Cross-Border Insolvency Matters between Hong Kong and Mainland China”, The American Journal of Comparative Law, Vol. 63(2), pp. 439-465 (August 2015), Emily Lee
3. “Comparing Hong Kong and Chinese Insolvency Laws and Their Cross-Border Complexities”, The Journal of Comparative Law, Vol. 9(2), pp. 259-280 (March 2015), Emily Lee
4. “Investor Protection in Lehman Brothers’ Insolvency Litigation”, The Journal of Comparative Law, Vol. 7(2), pp. 284-306 (August 2013), Emily Lee
5. “The Reorganization Process under China’s Corporate Bankruptcy System”, The International Lawyer, Vol. 45(4), pp. 939-974 (Winter 2011), Emily Lee
6. “China’s New Enterprise Bankruptcy Law—A Great Leap Forward, but Just How Far”, International Insolvency Review, Vol. 19(2), pp. 145-177 (2010), Emily Lee and Karen Ho
7. “Legal Pluralism, Institutionalism and Judicial Recognition of Hong Kong-China Cross-Border Insolvency Judgments”, Hong Kong Law Journal, Vol. 45(1), pp. 331-350 (May 2015), Emily Lee
8. “Securities & Futures Commission v China Metal Recycling (Holdings) Limited: Regional Conflict of Laws, Judicial Recognition and Hong Kong-China Cross-Border Insolvencies”, in Annual Review of Insolvency Law 2014, Janis P. Sarra & Justice Barbara Romaine (ed.) (Carswell, December 2014), pp. 599-623, Emily Lee

AIIFL has assisted the Faculty of Law to organise the Professor Philip St. John Smart Memorial Lecture since 2012:

3 May 2023
The Cross-Border Insolvency Cooperation between Mainland China and Hong Kong SAR: Is the Arrangement Enough and Why?
Dr. Jingxia Shi, Professor (International Business & Economic Law), School of Law, Renmin University of China

17 November 2016
Understanding Cross-Border Insolvency in the Hong Kong Context
The Hon Mr Justice Jonathan Harris, Court of First Instance of the High Court, HKSAR

21 November 2014
Lehman Brothers’ Cross-border Insolvency
Edward Middleton, Partner and Head of Restructuring Services, Asia-Pacific, KPMG

9 November 2012
Professor Philip St. John Smart Inaugural Memorial Lecture
Stephen Briscoe, Briscoe Wong Ferrier and Professional Advisory Board Member, Asian Institute of International Financial Law