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Trusts across borders: steering through the EU's insolvency directive and its implications for trustees. (2023)
Journal Article
MAK, C.H.W. 2023. Trusts across borders: steering through the EU's Insolvency Directive and its implications for trustees. Journal of international banking law and regulation [online], 38(10), pages 387-391. Hosted on Westlaw. Available from: https://uk.westlaw.com

This article delves into the multifaceted roles and responsibilities of trustees in cross-border insolvencies, with a spotlight on the EU’s proposed directive aiming to harmonise insolvency law. It acknowledges the unique position of trustees who, wh... Read More about Trusts across borders: steering through the EU's insolvency directive and its implications for trustees..

Australia: financial sector - new reforms to strengthen accountability and transparency within the industry. (2023)
Journal Article
MAK, C.H.W. 2023. Australia: financial sector - new reforms to strengthen accountability and transparency within the industry. Journal of international banking law and regulation [online], 38(8), pages N55-N56. Available from: https://uk.westlaw.com

Reviews the aims of Australia's Financial Accountability Regime Bill 2023, the background to its creation, its failure to include individual civil penalties for infringing accountability duties, its approach to transparency, its likely implications,... Read More about Australia: financial sector - new reforms to strengthen accountability and transparency within the industry..

China: the establishment of the State Administration of Financial Supervision and Administration. (2023)
Journal Article
MAK, C.H.W. 2023. China: the establishment of the State Administration of Financial Supervision and Administration. Butterworths journal of international banking and financial law [online], 38(6), pages 438-440. Available from: https://plus.lexis.com/

China is currently undergoing significant financial reform, intending to establish a centralised national financial regulatory body. This change represents a stark departure from the nation's prior fragmented regulatory strategies. The primary object... Read More about China: the establishment of the State Administration of Financial Supervision and Administration..

Debts unravelled: trust law's unbiased approach to resolving sovereign defaults. (2023)
Journal Article
MAK, C.H.W. [2023]. Debts unravelled: trust law's unbiased approach to resolving sovereign defaults. Trusts and trustees [online], Advanced Articles. Available from: https://doi.org/10.1093/tandt/ttad023

Sovereign debt defaults have long ignited debate in international finance as debtors, creditors and global entities wrestle with clashing interests. Trust law emerges as a fair and objective method, with trusts formed to manage and disburse funds for... Read More about Debts unravelled: trust law's unbiased approach to resolving sovereign defaults..

Sovereign debt sustainability: multilateral debt treatment and the credit rating impasse. (2023)
Journal Article
MAK, C.H.W. 2023. Sovereign debt sustainability: multilateral debt treatment and the credit rating impasse. INSOL world [online], 2023(1st Quarter), page 39. Available from: https://publications.insol.org/view/823629741/39/

This is a review of "Sovereign Debt Sustainability: Multilateral Debt Treatment and the Credit Rating Impasse" by Daniel Cash (Routledge, 2022). The 2007-09 global economic crisis resulted in pressing issues for many countries, especially those with... Read More about Sovereign debt sustainability: multilateral debt treatment and the credit rating impasse..

Hong Kong: civil and commercial judgments: reciprocal recognition of Hong Kong and mainland court judgments. (2023)
Journal Article
MAK, C.H.W. 2023. Hong Kong: civil and commercial judgments: reciprocal recognition of Hong Kong and mainland court judgments. Journal of international banking law and regulation [online], 38(4), pages N16-N17. Available from: https://uk.westlaw.com/Document/I1A0AD610C2CF11EDAFD6F430EC801F0E/View/FullText.html

The Hong Kong Legislative Council passed The Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance (MJREO) on 26 October 2022. The Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commerc... Read More about Hong Kong: civil and commercial judgments: reciprocal recognition of Hong Kong and mainland court judgments..

Protecting built heritage in Hong Kong. (2023)
Journal Article
GIORGALLIS, A. and MAK, C.H.W. [2023]. Protecting built heritage in Hong Kong. Journal of arts management, law and society [online], Latest Articles. Available from: https://doi.org/10.1080/10632921.2023.2169803

This is a review of "Protecting Built Heritage in Hong Kong", by Steven Brian Gallagher. Thinking about Hong Kong's cultural heritage automatically leads one to some assumptions. A first assumption that might spring to mind is the modern architecture... Read More about Protecting built heritage in Hong Kong..

Navigating the complexities of section 100A: a look at the future of trust taxation in Australia. (2023)
Journal Article
MAK, C.H.W. 2023. Navigating the complexities of section 100A: a look at the future of trust taxation in Australia. Trusts and trustees [online], 29(3), pages 201-207. Available from: https://doi.org/10.1093/tandt/ttad003

Section 100A of the Income Tax Assessment Act of 1936 is a provision designed to prevent arrangements in which a distribution is made to a beneficiary with a low tax rate, yet the economic benefit is conveyed or paid to a second beneficiary with a hi... Read More about Navigating the complexities of section 100A: a look at the future of trust taxation in Australia..

New Zealand: financial markets: conduct of financial institutions legislation. (2023)
Journal Article
MAK, C.H.W. 2023. New Zealand: financial markets: conduct of financial institutions legislation. Journal of international banking law and regulation [online], 38(2), pages N5-N6. Available from: https://uk.westlaw.com/Document/IDAF2A850946F11ED89CC9617AC9394E7/View/FullText.html

On 29 June 2022, the Financial Markets (Conduct of Institutions) Amendment Act 2022 was passed into law in New Zealand. The Act establishes a new conduct licensing regime for regulating the conduct of financial institutions, which is scheduled to tak... Read More about New Zealand: financial markets: conduct of financial institutions legislation..

Russian foreign investments at risk: why bring investment disputes relating to Russia to the Hong Kong International Arbitration Centre? (2023)
Journal Article
MAK, C.H.W. and LAI, R. 2023. Russian foreign investments at risk: why bring investment disputes relating to Russia to the Hong Kong International Arbitration Centre? Asian dispute review [online], 25(1), pages 27-33. Available from: https://kluwerlawonline.com/journalarticle/Asian+Dispute+Review/25.1/ADR2023005

This article discusses the proliferation of foreign investors seeking redress through arbitration as a result of the international sanctions imposed against Russia and special retaliatory economic counter-measures imposed against certain investors. I... Read More about Russian foreign investments at risk: why bring investment disputes relating to Russia to the Hong Kong International Arbitration Centre?.

Belokon v. Kyrgyzstan: practical implications of award set-asides arising from corruption allegations. (2022)
Journal Article
LAI, R. and MAK, C.H.W. 2022. Belokon v. Kyrgyzstan: practical implications of award set-asides arising from corruption allegations. ASIL insights [online], 26(14). Available from: https://www.asil.org/insights/volume/26/issue/14

As one of the most arbitration-friendly jurisdictions, French courts have long had a tradition of judicial non-interference in the arbitral process. In the context of annulment proceedings, French courts are normally granted limited scope in reviewin... Read More about Belokon v. Kyrgyzstan: practical implications of award set-asides arising from corruption allegations..

Sovereign debt restructuring: the potential role of China in the Belt and Road Initiative in the post COVID-19 era. (2022)
Working Paper
MAK, C.H.W. 2022. Sovereign debt restructuring: the potential role of China in the Belt and Road Initiative in the post COVID-19 era. China, law and development research briefs [online], 2022(9). Available from: https://cld.web.ox.ac.uk/files/finalrbmakpdf

Sovereign bonds have become a major asset category in recent decades. Due to the fallout of the 2007-2009 financial crisis and the accompanying sovereign debt crisis, the interconnected nature of sovereign debt management, financial stability and sys... Read More about Sovereign debt restructuring: the potential role of China in the Belt and Road Initiative in the post COVID-19 era..

Hong Kong Association of Banks alternative means of payments of funds under payment arrangements for property transactions (PAPT): possible concerns from banks and clients. (2022)
Journal Article
LAW, S.W. and MAK, C.H.W. 2022. Hong Kong Association of Banks alternative means of payments of funds under payment arrangements for property transactions (PAPT): possible concerns from banks and clients. Hong Kong lawyer [online], October 2022, pages 34-37. Available from: https://www.hk-lawyer.org/content/hong-kong-association-banks-alternative-means-payments-funds-under-payment-arrangements

Hong Kong Association of Banks (HKAB), the DTC Association (DTCA) and the Hong Kong S.A.R. Licensed Money Lenders Association have been working on the provision of an alternative means of payments of funds under Payment Arrangements for Property Tran... Read More about Hong Kong Association of Banks alternative means of payments of funds under payment arrangements for property transactions (PAPT): possible concerns from banks and clients..

Federal Commissioner of Taxation v Carter (2022) HCA 10: a game changer for taxation of trust distributions in Australia? (2022)
Journal Article
MAK, C.H.W. 2022. Federal Commissioner of Taxation v Carter (2022) HCA 10: a game changer for taxation of trust distributions in Australia? Trusts and trustees [online], 28(9), pages 886-890. Available from: https://doi.org/10.1093/tandt/ttac098

In Federal Commissioner of Taxation v Carter, the High Court of Australia asked to clarify the meaning of 'is presently entitled' under section 97(1) of the Income Tax Assessment Act. This case is a significant example of the High Court dealing in re... Read More about Federal Commissioner of Taxation v Carter (2022) HCA 10: a game changer for taxation of trust distributions in Australia?.

Banking on Beijing: the aims and impacts of China's overseas development program. (2022)
Journal Article
MAK, C.H.W. 2022. Banking on Beijing: the aims and impacts of China's overseas development program. Butterworths journal of international banking and financial law [online], 37(8), page 562. Available from: https://plus.lexis.com/

This is a review of "Banking on Beijing: the Aims and Impacts of China's Overseas Development Program" by Axel Dreher et al. (Cambridge University Press, 2022). There is growing concern over China's overseas lending and grant-giving activities. Journ... Read More about Banking on Beijing: the aims and impacts of China's overseas development program..

What should come after the implementation of the mutual recognition and assistance in cross-border insolvency between mainland China and Hong Kong? [Journal article] (2022)
Journal Article
LAW, S.W. and MAK, C.H.W. 2022. What should come after the implementation of the mutual recognition and assistance in cross-border insolvency between mainland China and Hong Kong? Journal of international banking law and regulation [online], 37(9), pages 331-336. Available from: https://uk.westlaw.com/Document/I770C1A8019CF11EDB0FCF49155AD4267/View/FullText.html

This article evaluates the new cross-border insolvency cooperation arrangement between Hong Kong and Mainland China from three business perspectives. First, whether it brings a legal effect; second, whether it aids in identifying a company's assets;... Read More about What should come after the implementation of the mutual recognition and assistance in cross-border insolvency between mainland China and Hong Kong? [Journal article].

The logic of financial nationalism: the challenges of cooperation and the role of international law; Global finance in the 21st century: stability and sustainability in a fragmenting world. (2022)
Journal Article
MAK, C.H.W. 2022. The logic of financial nationalism: the challenges of cooperation and the role of international law; Global finance in the 21st century: stability and sustainability in a fragmenting world. Asian journal of international law [online], 12(2), pages 427-429. Available from: https://doi.org/10.1017/S2044251322000509

This is a book review for two titles: "The Logic of Financial Nationalism: The Challenges of Cooperation and the Role of International Law", by Federico Lupo-Pasini; and "Global Finance in the 21st Century: Stability and Sustainability in a Fragmenti... Read More about The logic of financial nationalism: the challenges of cooperation and the role of international law; Global finance in the 21st century: stability and sustainability in a fragmenting world..

Sovereign wealth funds and national security: three purposes of regulations and beyond. (2022)
Journal Article
MAK, C.H.W. and LAW, S.W. 2022. Sovereign wealth funds and national security: three purposes of regulations and beyond. King's student law review [online], 12(1), pages 58-76. Available from: http://blogs.kcl.ac.uk/kslr/files/2022/06/Mak.KSLR_.VolXIIIssueI.2022.pdf

In light of the fact that the international investments made by state investors have tremendously expanded since the 19th century, there is a heated debate concerning the regulatory issues and challenges raised by sovereign wealth funds (SWFs). This... Read More about Sovereign wealth funds and national security: three purposes of regulations and beyond..

New Zealand: Reserve Bank of New Zealand Act 2021. (2022)
Journal Article
MAK, C.H.W. 2022. New Zealand: Reserve Bank of New Zealand Act 2021. Journal of international banking law and regulation [online], 37(6), pages N66-N67. Available from: https://uk.westlaw.com/Document/I22DC3E50D57211ECBBF8B1E0B434F9EE/View/FullText.html

On 16 August 2021, the Reserve Bank of New Zealand Act (RBNZA) 2021 was signed into law, to repeal and replace parts of the RBNZA 1989. The RBNZA 2021 will come into force on 1 July 2022 to increase the accountability and transparency of the Reserve... Read More about New Zealand: Reserve Bank of New Zealand Act 2021..

United States: New York banking law: restructuring sovereign debt. (2022)
Journal Article
MAK, C.H.W. 2022. United States: New York banking law: restructuring sovereign debt. Journal of international banking law and regulation [online], 37(4), pages N50-N51. Available from: https://uk.westlaw.com/Document/IBBF1CE20A0D411EC9337C4DDB089045C/View/FullText.html

In May 2021, New York lawmakers introduced a bill to amend the banking law concerning restructuring unsustainable sovereign and subnational debt (Bill). This amendment offers effective mechanisms to restructure unsustainable sovereign and subnational... Read More about United States: New York banking law: restructuring sovereign debt..