REGIONAL COMMITTEES: ASIA
International Forum on Cross-Border Insolvency Law Held in Guangzhou
By Prof. & Dr. Jingxia Shi
The International Forum on Cross-Border Insolvency Law was held on 21 March 2025 in Guangzhou, People’ s Republic of China, convening insolvency judges, academics, restructuring professionals, industry associations, and representatives from financial institutions in China and abroad. The Forum was jointly organised by the Guangdong Association of Bankruptcy Administrators, the Yao Meizhen Law Foundation of Wuhan University, and China CITIC Bank( Guangzhou Branch), with institutional support from the Guangzhou, Shenzhen, and Zhuhai Associations of Bankruptcy Administrators, and academic advisory support from Professor Jingxia Shi. INSOL International and the Hong Kong Institute of Certified Public Accountants served as supporting
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The Forum focused on institutional innovation in cross-border insolvency and restructuring, with particular emphasis on advancing the Guangdong- Hong Kong-Macao Greater Bay Area( GBA) as a world-class corporate restructuring and reorganization hub. More than 260 participants attended in person, with a substantially larger audience joining online. Approximately 60 onsite participants came from overseas jurisdictions and Hong Kong, alongside around 200 local participants.
Opening remarks were delivered by Clare Wee, Head of INSOL Asia-Pacific, and Li Kejian, representing the Guangdong High People’ s Court. The speakers emphasized the growing importance of cross-border coordination in
insolvency and restructuring matters and highlighted the GBA’ s potential role as a regional platform for complex cross-border cases. The opening session was moderated by Zhu Zhengfu, the President of the Guangdong Association of Bankruptcy Administrators.
The Forum comprised four thematic panels, addressing current developments and practical challenges in cross-border insolvency and restructuring across the Asia-Pacific region, including: Enhancing Insolvency Frameworks in the Asia-Pacific; Cross-Border Restructuring in Mainland China, Hong Kong, and Beyond; Real Estate Restructuring amid Market Downturns; Out-of-Court Workouts and Pre-Restructuring Mechanisms. Speakers included judges from the United States Bankruptcy Courts, the High Court of England and Wales, and Chinese courts, as well as academics and practitioners from international law firms, financial advisory firms, arbitral institutions, and multilateral development organizations, and etc.
Key Discussion Themes 1. Asia-Pacific Insolvency Reform Discussions highlighted the need for continued refinement of insolvency regimes across the Asia-Pacific to address increasingly complex cross-border cases. Comparative perspectives underscored the importance of procedural coordination, recognition mechanisms, and predictable outcomes for stakeholders. 2. Cross-Border Restructuring Practice Panels focusing on Mainland China, Hong Kong, and other jurisdictions examined recent cases and cooperation models, including judicial communication, parallel proceedings, and the interaction between court-led and consensual restructuring processes.
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