Search results for

Foreign investment is the last piece of the Reit puzzle

Stephanie Tang Dacheng's historic tie-up with Dentons started 2015 as a year for PRC firms to make global inroads. Yet the past month has been one for international names to move ever closer to China. JONES DAY brought in former China National Development and Reform Commission official Xue Qiang to its antitrust and competition law practice in Beijing. Meanwhile SHEARMAN & STERLING boosted its M&A practice with the addition of Stephanie Tang who joined the firm's China M&A group from Kirkland & Ellis. In Hong Kong FRESHFIELDS BRUCKHAUS DERINGER poached magic circle rival Linklaters' Asia-based US securities head David Ludwick. DEBEVOISE & PLIMPTON welcomed Herbert Smith Freehills' former Asia managing partner Mark Johnson to boost its white-collar crime and regulatory offering in the region.

Maria Papatsoris Under Law 6 of February 3 1997, the National Authority of Public Services (ASEP) in Panama is entitled to regulate the energy industry. Its purpose includes securing the availability of an efficient energy policy capable of supplying the country's energy demand, while meeting economic, social, and financial viability criteria. As a consequence of the energy crisis and the state's interest in promoting the use of renewable energy resources, mitigating adverse environmental impacts, and reducing dependence on traditional fossil fuels by means of Law 43 of August 9 2012, Law 6 was modified. It now allows the purchase of power and energy through special public tender processes, approved by ASEP and subject to the energy guidelines issued by the National Energy Secretariat, which have their own rules and are more expeditious.

Plans for an EU capital markets union coincide with a review of the prospectus regime. The goal is to create a simpler, more harmonised prospectus regime

César Rodríguez The Colombian fourth generation concession programme is seeking its first financial closing. Considering the huge amount of money needed, concessionaires are trying to put in place the optimum capital structure, combining long-term senior financing, revolving liquidity facilities, equity contributions and subordinated debt. Historically, subordinated debt has been widely used in infrastructure projects in Colombia as an instrument to inject sponsors' equity, and to avoid cash traps and other restrictions. However, existing sponsors are assessing how to obtain subordinated debt from non-affiliated parties, such as governmental entities and private equity funds. This represents a new feature in the Colombian landscape, as well as further challenges.

The acting deputy director-general for mergers at the EC’s Directorate-General for Competition discusses key cases and its priorities for 2015

Smyth & Co's Jonathan Cary and Robert Rhoda explain why counterparties are resorting to alternative venues to resolve disputes under the ISDA Master Agreement

Where BITs belong? Political instability is slowing investment into Africa's most promising markets and bilateral investment treaties (BIT) are doing little to ease concerns, according to the general counsel of a global conglomerate. The market is, however, working to address more tangible macro risks such as regime change and government intervention.

Rashid Bahar The Federal Council opened on November 28 2014 a consultation on a major modernisation of Swiss corporate law. The draft bill aims, on the one hand, to implement on a statutory level the requirements of article 95 (3) of the federal constitution resulting from the so-called fat-cat initiative that was adopted. On the other, it aims to re-initiate a series of reforms that were launched in 2007, but that were put on hold shortly after to focus on the fat-cat initiative. As the consultation period closes, we consider the key proposals of the draft bill. Overall, the draft bill on the modernisation of Swiss corporate law is a vast one, covering a diverse range of issues; some pundits have called it a mammoth bill.

The Libor scandal fundamentally changed global regulatory enforcement. As Cleary Gottlieb's Jonathan Kelly explains, today, institutions are increasingly being deputised to police themselves