The College hosted Professor Woo Soo-Keun, former Dean of Ewha Womans University School of Law and founding member of the Korean Bankruptcy Law Association and the East Asian Association of Insolvency and Restructuring, for an academic lecture on the Reflections on the Practice of Cross-Border Insolvency Law on Haidian campus on the evening of 19 September.
The lecture was moderated by Prof. Chen Xiahong, a researcher at CUPL’s Centre for Bankruptcy Law and Corporate Restructuring. Panel commentators included Prof. Chen Jingshan from CUPL’s School of Civil, Commercial and Economic Law, Prof. Su Jieche, Executive Dean of the Institute for Bankruptcy and Reorganisation at Zhejiang Gongshang University, and Mr. Yang Li, Senior Partner at Junhe LLP.
Prof. Woo began his lecture by tracing the historical development of the concept of ‘debt’ and the evolving relationship between creditors and debtors. He then distinguished between compulsory enforcement mechanisms and insolvency procedures, highlighting their differing objectives and legal implications. Turning to the complexities of cross-border insolvency, he examined the legal challenges that arise in such contexts and introduced the contrasting approaches adopted by Korea and Japan in recognising and enforcing foreign insolvency proceedings. Woo concluded by offering a detailed analysis of the ‘centre of main interests’ (COMI) principle, emphasising its role and interpretive difficulties in cross-border cases.
In the panel discussion, Chen Jingshan provided a comprehensive summary of Woo’s insights and shared her own reflections. Su Jieche addressed the challenges faced in developing cross-border insolvency rules during the ongoing revision of China’s Bankruptcy Law, particularly the issues of COMI determination and the scope of the public policy exception. Yang Li, drawing on his extensive experience in insolvency practice, offered practical observations and reflections on the implementation of cross-border insolvency procedures in China.
In his closing remarks, Chen Xiahong expressed heartfelt thanks to Prof. Woo, the guest commentators, and all participants. He also expressed hope that Prof. Woo would return to CUPL for further academic exchanges in the future. The lecture concluded in a cordial and engaging atmosphere, marking another successful session of the ‘Sino-Italian Legal Forum’ lecture series.
