Magazine - March 2005

In publication since 1982, IFLR has become the trusted source for in-house counsel and law firms specialising in financial law.

Cover Story

Features

  • Is now the time for the EU to consider a single financial regulator?

  • Corporates turn sleuths to combat scandal

    Independent investigations are now a popular tool for corporations in crisis. Tom Reid, John Banes, Luigi De Ghenghi and Sonia Garner, who investigated Royal Dutch Shell Group’s recategorization of its oil reserves, explain why

  • Innovation fuels Europe's high-yield market

    Europe's high-yield market is growing at record pace, partly thanks to structural innovations giving bondholders better protection when things go wrong. Bryant Edwards examines the growth in the market and explains how structural innovation has fuelled this expansion

  • What MyTravel means for bondholders

    The timeframe imposed on the MyTravel restructuring by regulatory considerations forced the company to take a tough line with bondholders. William Underhill and Caroline Edwards report

  • Insurers race to realize hidden value

    Embedded value deals have thrown a funding lifeline to insurers looking to monetize hidden value in life insurance books. Simeon Rudin explains why forthcoming changes to insurance regulation make these transactions so important to the insurance industry

  • Can securitization finance social housing?

    In the first section of a two-part article on the achievements and difficulties in applying securitization techniques to the social housing sector, Chris Oakley considers its specific financing needs and the way it is regulated in the UK

  • How to securitize private equity

    Collateralized fund obligations (CFOs) are complex vehicles that securitize private equity investments. Colin Mercer explains a CFO structure and how to reconcile the confidential world of private equity with a publicly listed vehicle

  • How to challenge the FSA

    Legal & General's success in challenging the UK Financial Services Authority's enforcement procedures offers hope to companies dealing with an enforcement investigation. Kirsten Younger offers some practical advice

  • Merger control: when to refer to Brussels

    A political compromise prevented the creation of a genuine one-stop shop merger filing system in Europe. The new procedure for pre-notification referrals of merger cases is burdensome, but the benefits of the one-stop shop can make it worthwhile. Romina Polley and Robert Schulz report on how companies are using the new system

  • Debtors face rising costs if Owens Corning upheld

    Neil Cummings and Martin Zohn explain why the outcome of a bankruptcy appeal hearing could have far-reaching consequences for lenders and the way US companies are structured

  • Canadian income trusts come of age

    Income trusts have become a powerful structure for Canadian and cross-border securities offerings. Simon Romano and Jeffrey Singer explain how they work

  • Hong Kong listing rules to become law

    In January the Hong Kong authorities released consultation papers on giving statutory backing to some of the Hong Kong Stock Exchange's listing rules. Robert Ashworth and Helena Chung examine the potential effects of this development

  • Disclosure duplication a waste of time and money

    Sandeep Parekh argues that quality, not quantity, is the answer to India's disclosure issues

  • Foreign bidders welcome Korean takeover changes

    Woong-Soon Song, Tong-Gun Lee and Robert Young explain how a bitter takeover battle brought about changes to takeover rules that will soon come into force

News analysis

International briefings