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Cutting edge - close up: How Grapes exported Chapter 11 prepackaged restructuring

Douglas Bartner, Michael Bosco, James Garrity and Stacey Spevak of Shearman & Sterling explain how Grapes became the first foreign company with minimal assets in the US to achieve restructuring under Chapter 11

February 01 2003

Italy

Italy's regions, provinces, municipalities and other local entities can now securitize proceeds derived from the divestment of real estate assets under Law No 289 (December 27 2002). These territorial entities have become equal, in this respect, to the central government, which can finalize this kind of transaction under Law Decree No 351 (September 25 2001) as converted with amendments into Law No 419 (November 23 2001). For more details see IFLR, International briefings, January 2002.

February 01 2003

Finland

Recent corporate scandals in the US and related discussions concerning the independence and integrity of analysts and their investment research have led to similar discussions in Finland. This article provides a brief overview of the Finnish rules and regulations applicable to investment research.

February 01 2003

Can The Netherlands retain its position in the SPV market?

The revision of the exemption regulation that has caused problems for borrowers (see main feature) has also affected securititizations, putting billions of dollars of transactions temporarily at risk.

February 01 2003

Dutch lawyers call for U-turn on new banking rules

Life for foreigners issuing securities in The Netherlands has been made more difficult by a recent amendment to the law. Michael Evans reports on what lawyers are doing to change this

February 01 2003

Isda revises master agreement to boost legal certainty

Global derivatives transactions are set to benefit fromimproved legal certainty thanks to a new master agreement document improving close-out procedures ( see article).

February 01 2003

SEC politicizes proxy voting

The Securities and Exchange Commission (SEC) voted last month to order mutual funds to disclose how they cast proxy votes, in a defeat for the $6.6 trillion industry.

February 01 2003

Asian innovation points to more bank capital deals

After several years of restructuring and writing off bad loans, Asian banks want to raise their capital adequacy ratios by issuing hybrid tier one securities. Sanghoon Lee of Linklaters looks at the steps regulators have taken so far and considers the structural challenges that remain

February 01 2003

Hong Kong

The Securities and Futures Commission (SFC) is looking forward to a new era in Hong Kong's financial markets with the long-awaited Securities and Futures Ordinance (SFO) due to come into effect on April 1 2003.

February 01 2003

Belgium boosts market supervision to restore investor confidence

Belgium's lawmakers are hoping to learn from the mistakes of the US and their European peers and bring legal certainty to the supervision of markets and the behaviour of listed companies.

February 01 2003

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