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Argentina’s sovereign bond restructuring in 2005 reopened the debate surrounding interpretations of the boilerplate clause

Thailand has enjoyed a relatively stable petroleum law regime since 1971 when the Petroleum Act BE 2514, 1971 (PA) and the Petroleum Income Tax Act BE 2514, 1971 (PITA) were enacted. Thailand adopted a modern form of petroleum concession, which has been updated from time to time. There have been 20 bid rounds, the last in 2007. A number of commercial oil and gas discoveries have been made, and as of 2017, there were 38 concessions in force. However, Thailand has limited geological prospects for oil and gas, and it imports more than 40% of its natural gas requirements.

The legal recognition of close-out netting provisions in financial contracts is increasingly significant to parties in the UAE as the region advances implementation of Basel III principles

A new regulation in Colombia has the potential to dramatically improve the Colombian financing landscape. The Colombian Central Bank recently began allowing foreign entities to lend Colombian pesos to local entities. Before that, foreign loans could only be extended in foreign currency with the corresponding foreign exchange risk (subject to the ability of arraigning for peso-linked facilities).

The proposed Financial Services Act will introduce new regulatory conduct rules and a new regime for the offering of securities

On December 19 2017, President Rodrigo Roa Duterte signed into law the Tax Reform for Acceleration and Inclusion (Train) which took effect on January 1 2018 and introduced Phase 1A of a massive reform of the tax system of the Philippines. A notable change is the overhaul of the tax rates on individual compensation income (see table)

Matthew Cox Leila Hubeaut Between December 2017 and January 2018 several international firms scaled back their EMEA networks. Norton Rose Fulbright closed offices in Abu Dhabi and Almaty in this period, relocating its staff in the former office to Dubai and exiting Kazakhstan entirely. The firm's Almaty team have established a new local law practice, KM & Partners.

A part of a company's equity, other capital funds, can be defined as funds created from the contributions provided by shareholders. They are created usually when there is a need to swiftly increase the company´s equity.

Brazilian law provides that foreigners can only acquire or lease rural properties if previously authorised by the National Institute of Rural Settlement and Agrarian Reform (INCRA). The same restrictions apply to foreign controlled Brazilian companies. The limitations were imposed on the premise that the acquisition or leasing of large rural areas by foreigners (directly or via local subsidiaries), mainly for agribusiness or mining activities, must be restricted to protect Brazilian sovereignty as regards the country's land and natural resources.

Markus Federle, general counsel of Samena Capital, examines the burgeoning potential of Asia for private equity investors