Securities & Futures Commission V China Metal Recycling (Holdings) Limited: Regional Conflict of Laws, Judicial Recognition and Hong Kong-China Cross-Border Insolvencies

Using the recently adjudicated landmark case in Hong Kong of Securities and Futures Commission v China Metal Recycling (Holdings) Limited as a launching board the author discusses and analyzes the complexities surrounding cross-border (corporate) insolvencies (“CBIs”) between Hong Kong and Mainland China (“HK-China CBI”). Going forward, HK-China CBI will have a direct bearing on decisions made by Hong Kong and Chinese courts; since they are already increasingly requested to adjudicate on the same issues during a corporate insolvency, a new mechanism is called for in order to provide a practical and economically viable resolution to the regional conflict of laws issue arising from Hong Kong and Mainland China having different insolvency laws in spite of Hong Kong being a part of Mainland China, although a special administrative region within it. A new mechanism should focus on the judicial recognition of judgments and court orders concerning insolvencies of companies with establishments in both Hong Kong and Mainland China; and if a new mechanism is properly implemented, it can more effectively and holistically facilitate resolution of the regional conflict of laws issue that typically arise during the insolvency procedure of a Hong Kong-listed company with subsidiary companies located in Mainland China. Without such a mechanism in place, the provisional liquidators (“PLs”) appointed in Hong Kong will need to devise a more convoluted resolution method in order for them to be approved by the Chinese court before they can take control of the Chinese subsidiary companies. Moreover, without a new mechanism, there will be duplication of insolvency procedures and costs and there may be incentives for forum shopping.postprin

Problems of Judicial Recognition and Enforcement in Cross-Border Insolvency Matters between Hong Kong and Mainland China

This Article first explores whether it is legally possible to extend the Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters by the Courts of the Mainland and of the Hong Kong Special Administrative Region Pursuant to Choice of Court Agreements between Parties Concerned to cover cross-border insolvency matters between Hong Kong and mainland China and, if so, the advantages and disadvantages of so doing.It then examines other alternatives for facilitating judicial recognition and enforcement of judgments between the courts in Hong Kong and mainland China that focus specifically on cross-border insolvency judgments (including court orders) that concern both Hong Kong and mainland China, such as signing a new arrangement, a special treaty, or a Memorandum of Understanding. It seeks to highlight the deficiencies of the Arrangement as well as discuss the options to remedy those deficiencies. The situation for Hong Kong-China cross-border insolvency cases is opaque due to the lack of local cross-border insolvency legislation in Hong Kong. In China, there is only one article (article 5) of the 2006 Enterprise Bankruptcy Law that concerns cross-border insolvency, but that article is inapplicable to Hong Kong-China cross-border insolvency cases. That article is inapplicable because it applies only to cross-border insolvency cases involving a foreign state. Since Hong Kong is not a foreign state, it is precluded from the article’s application. Also, Hong Kong and China have not adopted the UNCITRAL Model Law on Cross-Border Insolvency. Although internationally accepted soft law standards such as the Model Law can provide institutional guidance to cross-border insolvency matters, it is compatible with Hong Kong-China cross-border insolvency cases only when a third jurisdiction is involved. The lack of a formal judicial recognition mechanism for Hong Kong-China cross-border insolvency judgments creates problems such as legal uncertainty and forum shopping. This Article aims to raise awareness of the difficulties facing practitioners involved in Hong Kong-China cross-border insolvency cases and to share academic perspectives on the issue.published_or_final_versio

Shadow Banking System in China after the Global Financial Crisis: Why Shadow Banks Can Distort the Capital Market Order

This article first examines the composition of the shadow banking system in China and then critically analyses its interconnectivity with the traditional banking system and global capital markets. It argues that whilst shadow bank lending in China contributes to the country’s economic growth, the normal functionality of capital markets could be impaired if shadow banks continue to operate on a high-risk/high-yield business model which could potentially pose a systemic risk. It also addresses the concerns arising from high-leverage shadow bank lending practice and cautions against shadow banks operating in a black hole area that enables them to escape from regulatory purview. The article suggests that future regulatory (law) reform should guide shadow banks towards consumer protection by establishing an effective internal control system, enabling sufficient risk controls and requiring material information disclosure; towards safeguarding capital markets; and towards reducing their high levels of leverage.postprin

Effect of interdiffusion of quantum well infrared photodetector

The intersubband infrared photodetector performance is theoretically analyzed for various stages of interdiffusion in AlGaAs/GaAs quantum well. The absorption strength and responsivity are enhanced for certain extents of interdiffusion and the peak detection wavelength red shifts continuously with a large tunable range from 7 to 38.4 µm. The dark current is at an acceptable value for small diffusion extent. ©1996 American Institute of Physics.published_or_final_versio

Thermal interdiffusion in InGaAs/GaAs strained multiple quantum well infrared photodetector

RTA at 850 °C for 5 and 10 s is carried out to study the effect of interdiffusion on the optical and electrical properties of strained InGaAs/GaAs quantum well infrared photodetector. Photoluminescence measurement at 4.5 K shows that no strain relaxation or misfit dislocation formation occurs throughout the annealing process. Absorption and responsivity peak wavelengths are red shifted continuously without appreciable degradation in absorption strength. The normal incident absorption, which is believed to be the result of band-mixing effects induced by the coupling between the conduction and valence and is usually forbidden in conventional polarization selection rule, is preserved after interdiffusion. Responsivity spectra of both 0° and 90° polarization are of compatible amplitude and the shape of the annealed spectra becomes narrower. Dark current of the annealed devices is not very sensitive to temperature variation and is found to be an order of magnitude larger than the as-grown one at 77K.published_or_final_versio

Gene doctoring: a method for recombineering in laboratory and pathogenic Escherichia coli strains

Background: Homologous recombination mediated by the lambda-Red genes is a common method for making chromosomal modifications in Escherichia coli. Several protocols have been developed that differ in the mechanisms by which DNA, carrying regions homologous to the chromosome, are delivered into the cell. A common technique is to electroporate linear DNA fragments into cells. Alternatively, DNA fragments are generated in vivo by digestion of a donor plasmid with a nuclease that does not cleave the host genome. In both cases the lambda-Red gene products recombine homologous regions carried on the linear DNA fragments with the chromosome. We have successfully used both techniques to generate chromosomal mutations in E. coli K-12 strains. However, we have had limited success with these lambda-Red based recombination techniques in pathogenic E. coli strains, which has led us to develop an enhanced protocol for recombineering in such strains. \ud \ud Results: Our goal was to develop a high-throughput recombineering system, primarily for the coupling of genes to epitope tags, which could also be used for deletion of genes in both pathogenic and K-12 E. coli strains. To that end we have designed a series of donor plasmids for use with the lambda-Red recombination system, which when cleaved in vivo by the I-SceI meganuclease generate a discrete linear DNA fragment, allowing for C-terminal tagging of chromosomal genes with a 6xHis, 3xFLAG, 4xProteinA or GFP tag or for the deletion of chromosomal regions. We have enhanced existing protocols and technologies by inclusion of a cassette conferring kanamycin resistance and, crucially, by including the sacB gene on the donor plasmid, so that all but true recombinants are counter-selected on kanamycin and sucrose containing media, thus eliminating the need for extensive screening. This method has the added advantage of limiting the exposure of cells to the potential damaging effects of the lambda-Red system, which can lead to unwanted secondary alterations to the chromosome. \ud \ud Conclusion: We have developed a counter-selective recombineering technique for epitope tagging or for deleting genes in E. coli. We have demonstrated the versatility of the technique by modifying the chromosome of the enterohaemorrhagic O157:H7 (EHEC), uropathogenic CFT073 (UPEC), enteroaggregative O42 (EAEC) and enterotoxigenic H10407 (ETEC) E. coli strains as well as in K-12 laboratory strains

ASSESSMENT OF ANTIMICROBIAL RESISTANCE OF Salmonella spp. ISOLATED FROM FARMED ASIAN CLAM Corbicula fluminea

U ovom istraživanju, Salmonella spp. je uspješno izolirana iz azijskog školjkaša Corbicula fluminea primjenom Ksiloza Lizin Deoksiolata (XLD) selektivnog agara. Ukupno je izolirano 200 bakterijskih kolonija iz živih azijskih školjkaša i podvrgnuto ispitivanju osjetljivosti na antimikrobne tvari primjenom disk difuzije. U istraživanju je primijenjeno ukupno 18 antibiotika, i to: oksolinska kiselina, nalidiksična kiselina, eritromicin, tetraciklin, doksiciklin, oleandomicin, oksitetraciklin, spiramicin, ampicillin, kanamicin, fosfomicin, florfenikol, linkomicin, novobiocin, kloramfenikol, amoksicilin, flumekvin i sulfametoksazol. Rezultati ove studije ukazali su da je ukupni uzorak osjetljivih na antibiotike za Salmonella spp. izolirane iz uzorka C. fluminea bilo 50% ili 1800 slučajeva. Potom su uslijedili slučajevi rezistencije na antibiotike od 45% ili 1620 slučajeva i posredno osjetljivih na antibiotike (5% ili 180 slučajeva). Na temelju rezultata, tetraciklin, doksiciklin, oksitetraciklin i flumekvin pokazali su najveću inhibiciju izolirane Salmonella spp. Indeks višestruke rezistencije na antibiotike (MAR) bio je 0,36, što ukazuje da su uzorci školjkaša bili visoko izloženi testiranim antibioticima.In the present study, Salmonella spp. was successfully isolated from Asian clam Corbicula fluminea by using Xylose Lysine Deoxycholate (XLD) selective agar. A total of 200 bacterial colonies from live Asian clams were isolated and subjected to antimicrobial sensitivity test by using disc diffusion method. A total of 18 antibiotics was applied in the present study, namely oxolinic acid, nalidixic acid, erythromycin, tetracycline, doxycycline, oleandomycin, oxytetracycline, spiramycin, ampicillin, kanamycin, fosfomycin, florfenicol, lincomycin, novobiocin, chloramphenicol, amoxycillin, flumequine and sulphamethoxazole. The findings of the present study showed that total antibiotic sensitive case for Salmonella spp. isolated from C. fluminea sample was 50% or 1800 cases. This was followed by antibiotic resistance case 45% or 1620 cases and intermediary antibiotic sensitive case (5% or 180 cases). Based on the results of the present study, tetracycline, doxycycline, oxytetracycline and flumequine showed the highest inhibition of isolated Salmonella spp. The multiple antibiotic resistance (MAR) index was 0.36, indicating the sampled clams were highly exposed to the tested antibiotics

Essential trauma management training: addressing service delivery needs in active conflict zones in eastern Myanmar

<p>Abstract</p> <p>Introduction</p> <p>Access to governmental and international nongovernmental sources of health care within eastern Myanmar's conflict regions is virtually nonexistent. Historically, under these circumstances effective care for the victims of trauma, particularly landmine injuries, has been severely deficient. Recognizing this, community-based organizations (CBOs) providing health care in these regions sought to scale up the capacity of indigenous health workers to provide trauma care.</p> <p>Case description</p> <p>The Trauma Management Program (TMP) was developed by CBOs in cooperation with a United States-based health care NGO. The goal of the TMP is to improve the capacity of local health workers to deliver effective trauma care. From 2000 to the present, international and local health care educators have conducted regular workshops to train indigenous health workers in the management of landmine injuries, penetrating and blunt trauma, shock, wound and infection care, and orthopedics. Health workers have been regularly resupplied with the surgical instruments, supplies and medications needed to provide the care learnt through TMP training workshops.</p> <p>Discussion and Evaluation</p> <p>Since 2000, approximately 300 health workers have received training through the TMP, as part of a CBO-run health system providing care for approximately 250 000 internally displaced persons (IDPs) and war-affected residents. Based on interviews with health workers, trauma registry inputs and photo/video documentation, protocols and procedures taught during training workshops have been implemented effectively in the field. Between June 2005 and June 2007, more than 200 patients were recorded in the trauma patient registry. The majority were victims of weapons-related trauma.</p> <p>Conclusion</p> <p>This report illustrates a method to increase the capacity of indigenous health workers to manage traumatic injuries. These health workers are able to provide trauma care for otherwise inaccessible populations in remote and conflicted regions. The principles learnt during the implementation of the TMP might be applied in similar settings.</p

Access To Essential Maternal Health Interventions and Human Rights Violations among Vulnerable Communities in Eastern Burma

Luke Mullany and colleagues examine access to essential maternal health interventions and human rights violations within vulnerable communities in eastern Burma