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With many airlines battling to stay in business, the threat to lessors of a default on their payments is increasingly real. Mark Western and Mark Bisset of White & Case, London, offer advice to financiers

Sergei Stepanov of White & Case, Moscow, looks at how Russia is trying to improve corporate governance and give minority shareholders greater protection

Geoffrey Yeowart of Lovells, London, assesses the Privy Council’s ruling in the Brumark case, which created uncertainty over fixed charges, and says there are lessons to be learned from Siebe Gorman

The most recent developments at SAir Group and Switzerland's flag carrier SAirLines (Swissair) merit a short outline of the formal proceedings regarding moratorium and composition agreement under Swiss Debt Collection and Insolvency Law. The following three steps are to be distinguished:

In line with other European and US markets, the Finnish capital markets have experienced a fairly rapid slow-down during the past year. Heavily dependent on the technology and telecommunications sectors, the aggregate market capitalization of companies listed on the Helsinki Exchanges has decreased significantly, with the main index of the Helsinki Exchanges dropping some 4,400 points from around 11,200 points to 6,800 points during a period of 12 months. Just a couple of months earlier, the HEX index had reached an all-time high on May 18 2000 at 18,331 points.

Davis Polk puts JP Morgan loan in the picture

Russia has been riding a wave of economic progress as a new government, rising oil prices and legal reforms lead the way. But, as Thomas Williams reports from Moscow, there’s plenty to be done before everyone feels comfortable

Hunton & Williams is to advise the Philippine authorities on the long-awaited privatization of the country's electricity industry.

"The interests of the commercial community will be best served if banks are able to take and operate a fixed charge on the basis of Siebe Gorman"

Thacher Proffitt expands finance team