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Shuai Guo wins International Insolvency Institute’s 2018 Prize

Shuai Guo, PhD candidate at Company Law and the Hazelhoff Centre for Financial Law, has been awarded the Silver Medal in the competition of the International Insolvency Institute (III) 2018 Prize in International Insolvency Studies. III is a non-profit, limited membership organization dedicated to advancing and promoting insolvency as a respected discipline in the international field.

Shuai’s winning article is titled ‘Cross-border Resolution of Financial Institutions: Perspectives from International Insolvency Law’.

In addition to the prize, Shuai is invited to attend the International Insolvency Institute’s annual conference to be held in New York in September 2018, including a membership with Class VII of the III NextGen Leadership Program.

His paper examines the issues regarding the cross-border resolution of financial institutions, focusing on the power allocation between the home and host resolution authorities, i.e. the jurisdiction rule. The research is conducted from the international insolvency law perspective. A modified universalism approach is chosen, taken into account the balance of conflict of interests between effective resolution and protection of local interests. Regarding the parent-branch resolution, the home authority should be able to commence the main resolution proceeding, while the host authority should be able to commence either a supportive secondary resolution proceeding or an independent secondary resolution proceeding. Regarding the parent-subsidiary resolution, in spite of the desire to take a global resolution action, the current legal framework only allows a host resolution proceeding for foreign subsidiaries. This paper continues to propose the application of the head office functions test developed in the international insolvency law, so that foreign subsidiaries can be subject to the home main resolution proceeding.

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