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Isil Ökten Tolga Çabakli Debt assumption mechanisms constitute one of the major issues for lenders in public-private partnership (PPP) projects, and have been recently revisited by the Turkish Parliament to ensure certainty, clarity and sustainability in this respect. In March 2013, Act 4749 on Public Finance and Debt Management (the Public Finance Act) has been amended by Law 6428. The new article (8/A) of the Public Finance Act enables a treasury debt assumption mechanism for certain PPP projects on the following conditions:

Carlos Fradique Me´ndez Laura Villaveces Hollmann Colombia has made great stride towards contributing to the development of its markets. In particular, construction has experienced a boom in the past months as the sector grew about 16.9% in the first quarter of 2013 compared to 2012, residential buildings increased 14.7% and non-residential 21.8%. Maintenance and repair also grew 2.7% and construction licences 31.5%. All of which creates an interesting scenario, further supported by new regulations providing for useful real property investment models that are attractive to both foreign and national investors. Real-estate funds in Colombia were created rather late compared to international standards, and were only allowed since 2007. Yet the impact was not that great because of the regulatory restrictions that hindered their development.

Bruno Marchese Peruvian regulations (Law 27287) allow for the issuance and acceptance of incomplete promissory notes as instruments representing payment obligations. The Law allows for such notes to be issued without having to set forth a specific payment date, or the actual amount payable under the note, and other stipulations that are typically included in notes and similar payment documents, but may be left blank in these incomplete promissory notes. The items left blank in the note will have to be completed by the creditor, upon the occurrence of certain events.

Who took home what from IFLR’s expanded 2013 awards ceremony

How to use Europe’s first model block transaction agreements, and how they will benefit the market

The key compliance considerations for private investment funds caught by the looming US statute

The ins and outs of Europe’s new money market fund proposal, and how it compares to the US

The US Fed's newly-announced bank liquidity plan has prompted concerns about short-falls in liquidity, as well as how medium-sized institutions will cope

Dodd Frank's proposed enhanced prudential standards risk causing a domino effect that would be especially damaging for emerging market banks

The winners of IFLR’s eighth annual Middle East awards were revealed during a lavish ceremony last night