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Iñigo de Luisa We previously wrote about Royal Decree-law 4/2014 of March 7 (RDL 4/2014), which introduced important changes at preinsolvency stages and improved the restructuring tools and schemes in Spain. This piece of law is already effective, but is at the Parliament for final enactment and is subject to additional minor amendments. Now, Royal Decree-law 11/2014 of September 5 (RDL 11/2014), amends once again our insolvency regime both at composition and liquidation phases in order to foster financial restructuring of viable companies. RDL 11/2014, among other key issues, extends to composition agreements some of the key measures introduced by RDL 4/2014 for restructuring schemes at preinsolvency stages. As a result, both general and special privileged creditors (including public entities) could now be specifically affected by composition plans, even in the portion covered by the value of the collateral.

The nominations for this year's Asia Wibl awards have been announced

It wasn't supposed to take this long. Hong Kong's renminbi (RMB) bond market was purportedly born back in July 2007 when the China Development Bank (CDB) issued 5 billion yuan worth of renminbi-denominated bonds. At the time, this correspondent had just moved to Hong Kong and was covering the Asian market for IFLR. Back then, the mood in China was more expectant than hopeful: bankers and their counsel were confident that CDB's bonds would lead to many more. They anticipated full internationalisation of the currency within two to three years.

The Stock Exchange of Hong Kong's highly-anticipated concept paper on weighted voting rights furthers the market's debate on non-traditional shareholding structures.

The Republic of Indonesia structured its recent sukuk to permit greater flexibility in its underlying assets. Other sovereigns are expected to follow.

A ruling in MPM Silicones' Chapter 11 proceedings could be detrimental to the amount secured lenders in future reorganisations can expect to be repaid.

Boards may get more power to thwart takeover bids if a proposal by the country’s securities administrator is adopted next year. Notice of the proposal was released on September 11, with the full version expected in early 2015

RBI has, once again, changed its mind on temporary write-downs The Reserve Bank of India (RBI)'s amendments to its Basel III guidelines buck global trends on write-downs and on retail investors participating in the regulatory capital market. The amendments, notified on September 1, included several surprising elements. They reintroduce temporary write-downs to the market – after a previous notification said that they would no longer be permitted – and now permit retail investors to buy Basel III-compliant bonds.

Clifford Chance's Stuart Ure and Mark Dickinson describe how the wave of regulations brought on by Basel III has sparked further innovation in Islamic finance

There’s just not enough to satisfy regulators