Giuliano Castellano Contributes to World Bank Group's Guidance Notes on Distributed Ledger Technology & Secured Transactions

Dr Giuliano G. Castellano's immense expertise on the use of digital assets as collateral has helped to shape and inform three substantial guidance notes published in May 2020 by the World Bank Group. The guidance notes are part of new series on Distributed Ledger Technology (DLT) & Secured Transactions: Legal, Regulatory and Technology Perspectives. A DLT system is defined as a "distributed computerized system that enables participants (nodes) to submit, validate, and store information into a database (distributed ledger) that is disseminated, synchronized, and maintained fully or partially across nodes, without the need for intermediaries". 

     The first note is titled "Collateral Registry, Secured Transactions Law and Practice". It "examines the potential of DLT within the context of the UNCITRAL Model Law on Secured Transactions" (p 7). The second note considers the regulatory implications of integrating digital assets and distributed ledgers in credit ecosystems. Dr Castellano developed the primary technical content for this note. The third note provides a "primer on [DLT] and highlights the junctures at which this new technology meaningfully impacts secured transactions frameworks" (p 7). DLT is described as a "new paradigm" with the following facets: a "novel database technology", a "novel form of pure intangibles" and "transactional automation" (p 10).
     Dr Castellano was recently appointed by UNIDROIT to be a member of its Working Group on the Model Law on Factoring. Factoring is an important type of financing that is increasinly being used around the world.  "In 2019, global factoring volume reached 2.9 trillion euros." (UNIDROIT website).  Dr Castellano will share his knowledge on teh regulatory aspects that might affect the development of this international instrument.    

Michael Ng Takes Up Co-editorship of Routledge Law in Asia Book Series

Dr Michael Ng joins Melbourne Law Dean Professor Pip Nicholson and Professor Randall Peerenboom as Series Editors of the Routledge Law in Asia Book Series. The book series welcomes manuscripts in Asian law and comparative Asian law (broadly defined). In addition, the editors of the book series are very keen to attract submissions in interdisciplinary law (including but not limited to law and the humanities, law and history, law and economics, law and politics, empirical/quantitative study of law, law and AI/computing). Should there be any good manuscripts in these areas please feel free to get in touch with Dr Ng at michaeln@hku.hk for more information.

Dr Yahong Li Elected to the Executive Committee of ATRIP

Congratulations to Dr Yahong Li, who was elected a new member of the Executive Committee of the International Association for the Advancement of Teaching and Research In Intellectual Property (ATRIP) during the closing session of ATRIP's 38th Annual Congress held in Nashville, United States, from 25-28 August 2019.  ATRIP's general objective is "to contribute to the advancement of teaching and research in the field of the law of intellectual property".  Dr Li is internationally known for her scholarship on IP law in China and her more recent interdisciplinary projects focusing on IP, culture and technology.  She is Director of HKU's LLM programme in Technology and IP Law.

Weixia Gu Elected Associate Member of the International Academy of Comparative Law (IACL)

Congratulations to Dr Gu Weixia who has been elected an Associate Member of the International Academy of Comparative Law (IACL)!  Founded at The Hague in 1924, IACL is a prestigious body of scholars that aims at “the comparative study of legal systems”.  It has currently more than 700 members throughout the world.  According to its Statutes, the IACL is composed of Titular Members and Associate Members. They are elected annually by all preceding members. The members consist of respected academics and judges of courts of supreme and international jurisdiction. Titular Members are more senior scholars. Information about the IACL and membership can be found here.  In 2019, 62 new members were elected from around the world including Professor Tom Ginsburg of Chicago Law School.  Dr Gu was one of the four newly elected members from China, which also included Dr Cheng Jie of UBC law school. 

Congratulations to Dr Yahong Li and her PhD students in Chinese Intellectual Property

Congratulations to Dr Yahong Li who was appointed an expert for the Think Tank of China National Copyright Trading Bases (Yuexiu) on 20 June 2019 and a member of the Expert Committee of Peking University Great Bay Area Intellectual Property Institute on 21 June 2019. Dr Yahong Li was also invited to be a judge of the PhD Forum on Technology and Intellectual Property Law (2019) organized by Peking University on June 22-23​. At this forum, her fourth and second year PhD students, Huang Weijie and Deng Zhaoxia, were awarded second and third prizes respectively for their academic papers:

(1) Huang Weijie: “To Block or to Monetize: A Mechanism to Facilitate Copyright Reallocation." (the second prize) 

Abstract: The rule “to block or to monetize” provides copyright owners with liability-rule protection to gain advertising revenue from infringement, which facilitates efficient copyright reallocation when more and more user-generated contents (UGC) lay in the gray area between infringement and fair use. However, the current rule deprives UGC creators of the bargaining power against copyright owners, which not only stifles UGC creation but also refrains copyright from discovering more efficient exploiters through a dispersed market mechanism. To fulfill the purpose of the liability-rule protection, UGC creators should be permitted to restore the removed UGCs or share advertising revenue through counter-notification. 

(2) Deng Zhaoxia, "Critical Analysis on the Merchandising Rights of Fictional Characters: Chinese and American Perspectives" (the third prize)

Abstract: This paper takes fictional characters as the research objects to explore the connotation of their merchandising right. Through comparative and critical analysis of the phenomenon of “copyrighting trademark” of fictional characters in China and the phenomenon of “trademarking copyright” of fictional characters in America, it concludes that the merchandising right originates from commercialization outside the original works and serves to distinguish the origin or quality of the goods, which should be defined and protected legally as a commercial mark right and interest, belonging to the category of “trademark with certain influence”. Hence exercising this right must follow the general principles of trademark law and cannot hinder the freedom of expression or artistic expression.

Professor Yun Zhao Appointed Henry Cheng Professor in International Law (HKU)

Congratulations to Professor Yun Zhao, who was recently appointed to the Henry Cheng Professionship in Internationship Law.  He joins the other five endowed professors in the HKU Faculty of Law.  The appointment recognises Professor Zhao's expertise and scholarship in the area of space law.

From the website of HKU's Development and Alumni Affairs Office:  On October 4, 1957, the Soviet Union launched Sputnik 1, Earth’s first artificial satellite, and pushed the US into second place in the Space Race. This resulted in the United States Congress passing the Space Act that created the National Aeronautics and Space Administration (NASA). 

     Sputnik also had far-reaching legal implications and led to the creation of space law that governs human activity in outer space. With private companies leading a new commercial space race, space law faces many new challenges.

     Professor Zhao Yun is Head of the Department of Law at The University of Hong Kong. He was Director of the Centre for Chinese Law (2013-17) and is currently a Standing Council Member of the Chinese Society of International Law.

    He received his PhD from Erasmus University Rotterdam, having previously received an LLM from Leiden University and an LLM & LLB from China University of Political Science and Law. 

     The focus of Professor Zhao’s research is on space commercialisation and privatisation, including the liberalisation of telecommunications services within World Trade Organization frameworks, and national space legislation in China. He recently began work on international co-operation on space activities and space sustainability. And in view of the need of an appropriate legal regime for space mining, he put forward suggestions for an international space authority to govern space mining. 

    He has completed a project on commercialising the International Space Station, with particular reference to Hong Kong’s Future Participation, and is currently working on a multilateral regime for space resource mining and space sustainability.

    Professor Zhao is also researching dispute resolution, in particular online dispute resolution, to facilitate the dispute resolution process. He has argued on various occasions for the need to have an online dispute resolution mechanism and a set of online dispute resolution rules for the resolution of B2B disputes.

     He is listed as arbitrator in several international arbitration commissions. Professor Zhao is also a founding council member of Hong Kong Internet Forum, and a member of the International Institute of Space Law in Paris, the Asia Pacific Law Association, and the Beijing International Law Society. 

    He sits on the editorial teams of several Social Science Citation Index journals, including the Hong Kong Law Journal and the Journal of East Asia and International Law. He was the winner of the Prof.Dr. I.H.Ph. Diederiks-Verschoor Award 2006 from the International Institute of Space Law in France, the first winner of the Isa Diederiks-Verschoor Prize in the Netherlands, and also the first winner of the SATA Prize from the Foundation of Development of International Law in Asia. 

    He is published widely and his recent publications include Dispute Resolution in Electronic Commerce; Liberalization of Electronic Commerce and Law; Space Commercialization and the Development of Space Law; Mediation Practice and Skills; and National Space Legislation in China: An Overview of the Current Situation and Outlook for the Future.

Interview with Yun Zhao, the first Supreme Justice of Asgardia

Source: Asgardia website

The space kingdom Asgardia held its first Parliamentary session on 24 June 2018 in Vienna.  The 108 members of Parliament adopted the first law on the Parliament of Asgardia.  The Head of Nation, Dr Igor Ashurbeyli, signed the law immediately after adoption.
      Decree No 19 appointed Professor Yun Zhao, HKU's head of the Department of Law, as the Supreme Justice of Asgardia in accordance with Article 35, item 3 of the Asgardian Constitution.  Mr Lembit Opik and Ms Ana Diaz were appointed Parliament Chairperson and Prime Minister, respectively.  Two laws, an Act on the Enactment of Legislative Acts of the Nation of Asgardia and the Citizenship Law, were debated and passed.

Source: Asgardia website

     On the following day, a ceremony was held at Hofburg Palace to mark the inauguration of Dr Igor Ashurbeyli as the Head of Nation.  In attendance were ambassadors of more than 10 countries and guests from over 40 nations.  The one hour, fifty-one minute video of the celebration can be viewed here.  Many major international news media organisations (The Standard, Reuters, The Sun,  The Daily Mail, covered the inauguration ceremony.
     Despite his extremely busy schedule, Professor Zhao kindly spared a few minutes of his time to participate in an e-interview by the HKU Legal Scholarship Blog.

1. What is Asgardia and how did you first get involved?

Asgardia is the first space nation, which was set up in 2016. I was invited to attend a press conference held in Hong Kong in 2017 when Asgardia announced future plans for the space nation.

Source: Asgardia website

2. How did you come to be appointed the head of Asgardia’s Court, a position known as Supreme Justice of Asgardia, and what responsibilities do you have in this new role?

Supreme Justice of the Court is an appointed position, not elected. Relevant factors include the professional qualifications and experience in the field. I will ensure the smooth operation of Asgardia's legal system, such as constitutionality, resolution of disputes that arise from Asgardia's laws.

3. Will other judges be appointed in the future?

Other judges will be appointed in the near future, targeting end of 2018. There are four panels for constitutional, civil, administrative and criminal proceedings.

4. Do you envisage Asgardia’s Court ever hearing a case and what kinds of issues would it likely have to address?

There is the possibility of court hearing, most probably cases arising from the new Citizenship' Law.

5. How has your scholarship on space law contributed to your involvement in Asgardia?

This appointment takes into account my professional qualifications and experience in the space law field, and recognition from the space law (and international law) circle. 

6. What opportunities are available for other legal academics and law students if they want to become involved in Asgardia?

At the moment Asgardia is making appointments of ministers in the Asgardia Government, committee chairmen (Deputy-Chairmen) of Parliament and judges. Those interested in Asgardia and outer space should consider applying for Asgardia citizenship and indicate their interest in these positions.

    A short video of Dr Zhao speaking about his new role as Supreme Justice can be viewed here.

Meet the Two HKU Endowed Professors of Law Celebrated at the 11th Inauguration (21 March 2018)

The Eleventh Inauguration of Endowed Professorships

Warren Chan Professorship in Human Rights and Responsibilities

"Human rights are important, and human responsibilities are equally important. Ask not just what your rights are, but also what your responsibilities are, to yourself, to others and to the environment. 

Every society will have to strike its own balance of such rights and responsibilities."

                                                                         Mr Warren Chan

Appointed 2018. Professor Fu Hualing is Professor of Law and holder of the Warren Chan Professorship in Human Rights and Responsibilities at the Department of Law, The University of Hong Kong (HKU). He specialises in constitutional law, legal institutions, human rights with a focus on China, and cross-border legal relations in the Greater China region.

     Professor Fu's current research focuses on the rise of human rights lawyering in China and its implications for political and legal reform in the country, the politics of anti-corruption enforcement, popular justice, and a critical re-assessment of rule of law reform in China in the past four decades. His other research areas include the constitutional status of Hong Kong, in particular central-local relationships in the Hong Kong context and national security legislation. 

     He has a keen interest in building capacity in civil society, developing the rule of law, and enhancing legal protection of human rights in China. He has worked with and advised foreign governments and international institutions, as well as the Office of the High Commissioner for Human Rights (OHCHR), with respect to their projects in China. 

     His teaching focuses on human rights in China, corruption issues, and cross-border legal relations between Hong Kong and the Mainland. He is committed to expanding experiential learning opportunities for Hong Kong law students in the Mainland and Mainland law students in Hong Kong. He continues to actively promote student and faculty exchanges with leading Mainland law schools, in a spirit of better mutual understanding. 

     Professor Fu received his LLB from Southwestern University of Politics and Law, Chongqing, in 1983; his MA from the University of Toronto in 1988; and his Doctor of Jurisprudence from Osgoode Hall Law School in 1991. Prior to joining HKU in 1997, he taught at his alma mater in Chongqing, and at City University of Hong Kong. Professor Fu has served as Director of the Centre for Comparative and Public Law (2004-06), Head of the Department of Law (2008-10) and, since 2014, has been Associate Dean (China Affairs) at the Law Faculty. 

    He has been a visiting professor at the University of Washington, New York University, the University of Pennsylvania, the University of Michigan, and Zhongnan University. He served on the Mainland Affairs Committee of The Law Society of Hong Kong, and as an adviser to the Asian Law Centre, the University of Melbourne, and the Centre for Asian Legal Studies, National University of Singapore. 

     Professor Fu has published extensively in various books, and in local and international journals, including The China Quarterly, The China Journal and the Journal of Contemporary China. As a believer in collaborative approaches to scholarship, he has co-edited a number of significant studies including National Security and Fundamental Freedoms: Hong Kong's Article 23 Under Scrutiny (2005); Liu Xiaobo; Charter 08 and the Limits of China's Political Reform (2012); Mediation in Contemporary China (2017); Transparency Challenges Facing China (2018); and Socialist Law in Socialist East Asia (2018). 

     He is Co-editor of the Social Science Research Network Chinese Law eJournal, and Co-editor of The Routledge Rule of Law in China and Comparative Perspectives Series. Professor Fu was the recipient of the prestigious 2005 Gordon White Award from The China Quarterly for his 2005 article Re-education through Labour in Historical Perspective. He is widely regarded as one of the foremost commentators on the development and operation of public law in China. Professor Fu's perspectives on a broad range of legal issues are keenly sought internationally and also within Greater China. Overall, the work of Professor Fu Hualing has been important in helping to build HKU's exceptional reputation for research and scholarship in relation to China's law reforms, legal institutions, and civil society.

Kerry Holdings Professorship in Law

"We are honoured to support The University of Hong Kong with this Endowed Professorship. It is our shared vision that this Endowed Professorship will enrich the resources available at the Faculty of Law and help uphold its high standards of scholarship, research and education." 

                                                    Kerry Holdings Limited

Appointed 2017. Cryptocurrency Bitcoin made headlines around the world across last year as it surged from less than US$1,000 to over US$20,000 in less than one year, before crashing in January 2018. Its massive surge and price volatility raises many concerns, with many banking and government officials warning investors not to trust it and that it is a bubble waiting to burst.
     While Bitcoin’s meteoric rise grabbed the headlines, it also put the spotlight on Financial Technology (FinTech). Today’s FinTech is the result of a long evolutionary interaction between finance, technology and regulation, which is transforming finance around the world, particularly in China. Increasingly, it represents technologies and technological innovation in the financial sector that are disrupting traditional financial services, including mobile payments, money transfers, loans, fundraising, and cryptocurrencies.

     Professor Douglas Arner is the Kerry Holdings Professor in Law at The University of Hong Kong (HKU). He is the founding Director of the University’s LLM in Corporate and Financial Law and LLM in Compliance and Regulation programmes. He specialises in economic and financial law, and regulation and development, and is recognised for his work in FinTech and financial regulation, particularly in the context of Regulatory Technology (RegTech).

    He is the Project Co-ordinator of a HK$15.36 million five-year project on “Enhancing Hong Kong’s Future as a Leading International Financial Centre” funded by the Hong Kong Research Grants Council Theme-based Research Scheme. He is also a member of the Hong Kong Financial Services Development Council, the Executive Committee of the Asia Pacific Structured Finance Association, and the Advisory Board of SuperCharger FinTech Accelerator. 

    After graduating with a BA from Drury College and a JD from Southern Methodist University, Professor Arner continued his studies at the University of London where he earned an LLM and a PhD. Prior to joining HKU in 2000, he was the Sir John Lubbock Support Fund Fellow at the Centre for Commercial Law Studies, Queen Mary University of London.

     Professor Arner served as Head of the Department of Law at HKU (2011-14) and as Co-Director of the Duke University-HKU Asia-America Institute in Transnational Law (2005-16). During this time, he managed 70 full-time academic staff at HKU and was responsible for over 1,500 students. He also taught postgraduate teaching programmes, undertook a major reform of the curriculum, and oversaw a significant expansion in student and staff numbers. 

     He co-founded the Faculty’s Asian Institute of International Financial Law in 1999 and served as its Director in 2006-11. The Institute is considered today the leading academic research institute focusing on international financial law, regulation and policy in Asia. In 2007, he received HKU’s Outstanding Young Researcher Award. 

     The World Bank, the Asian Development Bank, and Asia-Pacific Economic Cooperation (APEC), among others, have invited Professor Arner to serve as a consultant. He has been a visiting professor or fellow at numerous overseas universities, including the University of Melbourne where he is a Senior Fellow. More recently, he was the Ken Yun Visiting Professor at Duke University in 2017 and the Peter Ellinger Visiting Professor at the National University of Singapore in 2016.

     He is author, co-author or editor of 15 books, and the author or co-author of more than 120 articles, chapters and reports on related subjects. His most recent books include Reconceptualizing Global Finance and its Regulation(Cambridge University Press 2016) and Financial Regulation in Hong Kong (Oxford University Press 2016).

     His recent papers are available at the Social Science Research Network (SSRN) where he is among the top 1% of all authors by downloads and one of the top 25 law authors in the world.

Vicci Lau Appointed Chairman of the Toys and Children's Products Safety Appeal Board Panel

Congratulations to Vicci Lau who has been appointed Chairman of the Toys and Children's Products Safety Appeal Board Panel. Another graduate of the HKU Law Faculty was appointed the Deputy Chairman, Ms Abigail Wong (LLB 2001, PCLL 2002).

     The Toys and Children's Products Safety Appeal Board Panel is established under section 15 of the Toys and Children's Products Safety Ordinance (Cap 424), which was enacted in 1993 to "provide for safety standards for children's toys and safety standards for specified chattels used in association with children, and to provide for other powers to enhance the safety of children" (long title). 

    The appointments will take effect on 1 January 2018, for a term of two years. Click here for the government's announcement.

Douglas Arner Appointed to London's CFTE Academic Board

From the Press Release of The Centre for Finance, Technology & Entrepreneurship.

"CFTE Announces Five New Board Members to Join Edtech Project"

6 June 2017, London - The Centre for Finance, Technology and Entrepreneurship (CFTE) is building the future of online education in finance with an Edtech platform that aims to help finance professionals adapt to a rapidly changing industry.

Today, CFTE announces the nomination of five new board members, all with outstanding credentials who are world-renowned experts in their fields. Gillian Cribbs and Sylvain Kalache join the advisory board, while Prof Andrei Kirilenko, Prof Douglas Arner and Prof Karim Lakhani join the academic board. As a collective, the board will enhance CFTE’s capabilities to deliver on its mission to provide professionals with a lifelong education in finance. 

     On today’s board announcement’s, Tram Anh Nguyen, CFTE’s Co-founder, said “our new board members are exceptional people from diverse backgrounds, and they all share a common belief that people need to acquire the right skills for a rapidly changing world. We are very honoured and grateful that they’re joining CFTE.” Huy Nguyen Trieu, Co-founder of CFTE and CEO of The Disruptive Group added, “We are building a global platform to help finance professionals adapt to Finance 2.0. This has never been done before, and having the views of world-class experts from Hong Kong to London to Boston to the Silicon Valley will be extremely valuable to CFTE.”... Click here to read the full press release.

Say Goo Appointed to Hong Kong's Insurance Appeals Tribunal

Congratulations to Say Goo on his appointment by the Secretary for Financial Services and the Treasury as a panel member of the Insurance Appeals Tribunal for a term of two years from July 2017 to July 2019.  The Insurance Appeals Tribunal is an independent quasi-judicial body established to review specified decisions of the Insurance Authority (IA), a new independent body that will take over the statutory functions of the Office of the Commissioner of Insurance on 26 June 2017 and eventually take over the regulation of insurance intermediaries.  The Tribunal is chaired by Douglas Lam SC and currently has 23 panel members.