Conference programme

Does the outlook for the China remain uncertain, with slower growth, property sector pressures and external headwinds weighing on business confidence and liquidity? What will the impact be on Hong Kong? Will the environment drive an increase in insolvency and restructuring activity with greater financial distress? Or, as Hong Kong bounces back, is there the potential for new wealth and innovation? After all, in the midst of chaos, there is also opportunity.

These two areas of law often intersect and, when they do, raise issues around jurisdiction and the enforcement of arbitration agreements. Their intersection also questions whether creditor claims should be resolved collectively through insolvency proceedings or individually through arbitration. This panel asks which is right?

The panel will also look at how invoking arbitration and other enforcement tools when restructuring is no longer an option.

Different legal traditions (some common law, some civil law) sit alongside distinct economic models; some operate advanced, export-oriented economies with mature credit markets; others balance rapid growth, internal market expansion and ongoing structural reform. Some value continuity and consensus; others serve state policy objectives. Each jurisdiction has evolved to support these economic realities, particularly in managing corporate distress at scale. As insolvencies in Asia increase, key centres including Hong Kong and Singapore, as well as some emerging jurisdictions, compete to position themselves as preferred hubs, each offering varying levels of efficiency, creditor protection and cross-border recognition.

The ongoing tension between common law and statutory frameworks in cross-border insolvency is reflected in how jurisdictions balance judicial flexibility against the certainty offered by codified regimes such as the UNCITRAL Model Law. Common law systems, including Hong Kong, continue to rely on principles such as modified universalism and judicial discretion to recognise and assist foreign proceedings, while legislative regimes seek, not always successfully, to provide more streamlined mechanisms for recognition and cooperation across borders. This is a review and update of recent developments across Asia and elsewhere where there is divergence and different approaches.