Il Record of Meeting concluso tra la Cina Continentale e Hong Kong S.A.R.

Luci ed ombre dell’accordo attraverso una comparazione con il Regolamento (UE) n. 848/2015

Abstract

The article aims to provide an analytical examination of the discipline of mutual recognition of insolvency proceedings between Mainland China and Hong Kong S.A.R. The author traces what occurred in the People’s Republic of China until 2021. Prevailing was, in fact, the attitude of Mainland China, which had always been reluctant to recognize insolvency proceedings started in Hong Kong territory. The impasse ended on May 14, 2021 when the parties reached an agreement: the so called “Record of Meeting.” The latter represents the primordial piece of a mosaic still in the making. Following a brief analysis conducted on the source chosen by the parties, the author analyzes the main contents of the agreement through a comparison with Reg. (EU) No. 848/2015. The choice is not accidental, since, in the following pages, it becomes clear how the aforementioned regulation represents the archetype to aspire to, but also a compass capable of dictating the way. In conclusion, the shortcomings of the Record of Meeting and the sources attached to it are highlighted and, at the same time, an attempt is made to describe the future scenario in cross-border insolvency between the major rival of the United States of America, Mainland China, and Hong Kong, the third largest financial center internationally.