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Bankers’ counsel have spoken exclusively to IFLR about the Rule’s future and how it may need to be toned down

The attachment of a debtor's assets is a very convenient tool for securing the recovery of an outstanding claim. Besides conventional assets, such as bank accounts or real estate, the creditor may also consider attaching more exotic items owned by the debtor: luxury cars, artworks or, why not, a private jet. We set out below the key requirements and certain practical aspects to consider when seeking the attachment of an aircraft located in Switzerland.

The European Parliament recently passed a new regulation on securitisation, which is part of the capital markets union action plan. Regulation (EU) 2017/2402 of the European Parliament and Council, of December 12 2017 (the Securitisation Regulation), establishes a general framework for securitisation and creates a specific framework for simple, transparent and standardised securitisation. Its aim is to promote a safe and liquid market for securitisation. An amendment was also implemented relating to the regulation on capital requirements. Its purpose is to make the capital treatment of securitisations for banks and investment firms more risk-sensitive and to reflect the specific features of simple, transparent and standardised securitisations.

The EU’s new framework to encourage high quality securitisations contains a revised set of rules together with criteria for simple, transparent and standardised securitisations

UK firm DWF has expanded its Australian arm with eight senior hires and the opening of a new office in Newcastle in New South Wales. The new office will be the firm's fourth in the country joining existing bases in Sydney, Melbourne and Brisbane.

Sfera Legal, based in Costa Rica, has continued its regional expansion with the launch of Sfera Legal El Salvador and Sfera Legal Nicaragua. The firm is now present in four central American countries.

Recent case law involving financial institutions confirms the ongoing viability of the Bankruptcy Code’s provisions

On April 26 2018, the Brazilian Central Bank issued new regulations (i) allowing certain types of transactions by credit fintechs, exclusively through electronic lending platforms; and, (ii) covering the areas of cybersecurity, data storage and cloud computing applicable to financial and payment institutions.

On December 1 2017, partial amendments to the Act on Specified Joint Real Estate Ventures (Amended Act) came into force. The Amended Act is aimed at making the specified joint real estate ventures system more accessible. The following is a brief summary of the new business categories established by the Amended Act.

The Cyprus Securities and Exchange Commission (CySEC) has announced the detailed arrangements for regulated administrative service providers (ASPs) to submit information regarding the year 2017 for the purposes of risk-based supervision.