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Prisna Sungwanna Supattra Sathapornnanon The Thai Board of Investment (BOI) administers the Investment Promotion Act (1977) under which projects are granted investment incentives, guarantees, and rights to own land. These are important factors in securing project financing. The BOI announced a Seven-Year Investment Promotion Strategy (2015 to 2021) following the issue of Announcement No 2/2557 on December 3 2014, which repeals eight past announcements. It includes a new list of activities eligible for promotion, which has a number of changes from former lists. It prescribes new activity-based incentives and merit-based incentives. Activity-based incentives are divided into Group A and Group B, as indicated in the new list. Group A activities receive corporate income tax incentives, machinery and raw materials import duty incentive,s and other non-tax incentives. Group A is divided into four subgroups. Group B activities receive only machinery and raw material import duty incentives and other non-tax incentives. Group B is divided into two subgroups.

The lighter side of the past month in the world of financial law

Arendt & Medernach's Alexander Olliges, Stéphane Karolczuk and Anne-Laure Giraudeau explain why the Grand Duchy may prove a stepping stone for Chinese fund managers

Clifford Chance’s Francis Edwards, Terry Yang and Yasuyuki Takayami explain why the global requirement can clash with local confidentiality obligations

As useful as a Russian bailout Rushing through emergency legislation to prop up its troubled lenders is not enough to save Russia from a financial crisis in 2015. On December 22 its central bank had to intervene after a deposit run threatened to bankrupt midsize lender National Trust Bank.

Law firms ushered in 2015 with a spate of lateral hires. KING & SPALDING's New York office bolstered its cross-border transactional capability with the addition of Ye Cecilia Hong, who was previously a partner at Kirkland & Ellis. Fluent in Mandarin Chinese as well as English, Hong advises public and private borrowers and lenders on multijurisdictional distressed financings and restructurings.

Shenzhen-based property developer Kaisa's recent default has drawn renewed attention to the nuances of cross-default clauses in loans, bonds and derivatives.

Both bidders and targets will now need one

Mayer Brown’s Kevin Hawken, Carol Hitselberger and Jason Kravitt explain why the revised securitisation framework will affect EU and US banks differently

Sub-Saharan sovereigns’ dollar-bond borrowings have spiked. But with macroeconomic conditions worsening, what will stop the build-up of risks in the nascent market?