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Qihoo 360's convertible bond was not only the first this year but also the largest ever such offering from a US-listed Chinaco.

The Korea Financial Services Commission's (FSC) recent launch of a stock exchange focused on raising capital for small and medium-sized enterprises (SMEs) could show EU policymakers how they can spur the bloc's return to growth.

One of Europe's senior political figures has said that small and medium-sized enterprises (SMEs) will not provide the region with the major funding required to return it to growth.

The Amata B. Grimm infrastructure fund IPO represented the first listing of an energy-related infrastructure fund and only the second listing of an infrastructure fund in Thailand. It is expected to spark copycat transactions

ISDA has endorsed the use of PRIME Finance arbitration clauses in standard derivatives documentation

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

Ignacio Buil Aldana Act 14/2013, of September 27 2013, favouring entrepreneurs and their internationalisation (the Act), has introduced a wide range of reforms on several insolvency, corporate, tax and labour matters. Regarding insolvencies, the Act (among other changes) significantly reduces the quorum of financial creditors required for court-sanctioned refinancing agreements. It also includes a new out-of-court device in order for debtors and creditors to reach payment agreements binding dissident creditors. With respect to the court-sanctioned refinancing (the so called Spanish scheme), the Act lowers the 75% (of financial debt) support threshold required under additional provision 4 of the Insolvency Act to court-sanction a refinancing agreement to a mere 55%. Further, the Act clarifies that that quorum be superimposed on the quorum required for refinancing agreements under article 71.6 of the Insolvency Act (60% of total debt, including financial debt), in line with both doctrine and case law. This reform is aimed at facilitating Spanish schemes by simplifying and lowering the threshold to reach the relevant majorities. This, of course, may have an effect on existing and future Spanish restructurings even if other key issues such as the ability to cram-down secured creditors is still uncertain, despite relevant developments in this regard (such as the Celsa case).

Why it’s right for activist investors to rely on the SEC rules allowing the disclosure of material information on social media

In April 2013, the Act Governing Private Sector Participation in or Operation of State Activities (2013) was published. The Act supersedes the 1992 version, which presented several issues for parties wishing to enter joint investment contracts with state-owned enterprises. These issues include an unclear and overlapping authority of several government regulators, with the National Economic and Social Development Board (NESDB) refusing to play a significant role, and substantial delays and increased costs in project approval, with no clear definition of what constitutes a state-owned enterprise. In addition, the old Act does not provide for contract renewals or amendments, or the scope of discretion for project approval.

Karan Talwar Noorul Hassan According to a recent Thomson Reuters M&A report, M&A deals in India were lowest in the last four years at $23.8 billion for January-September 2013. However, total cross-border M&A involving India grew 36.7% to $19.3 billion, driven by a 178% spike in outbound M&As, while inbound deals slipped 2.3% to $10.8 billion from the first nine months of 2012. The Companies Act, 2013 (the Act) has replaced the archaic 50 year old company law in India. The new Act promises to revamp the landscape of corporate restructuring and M&A in India, with fast track mergers between small companies and holding-subsidiary companies coupled with simplified procedures. More importantly, section 234 of the new Act now allows both inbound and outbound mergers and amalgamations with foreign companies as opposed to the earlier law, which specifically disallowed a foreign company from being a transferee company. The term foreign company has been defined as any company or 'body corporate' incorporated outside India, whether or not it has a place of business in India. However, only foreign companies established in jurisdictions yet to be notified by the government shall be allowed to merge with Indian companies.