Magazine - March 2003

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

Cover Story

  • How Colt Telecom rebuffed the vultures

    To the relief of companies financed by public debt, a UK judge has thrown out a vulture fund's attempt to drive a healthy business into administration and divide the spoils. William Underhill and Jonathan Cotton of Slaughter and May explain how the case was fought and won

Features

  • Japanese merger reforms fail to remove tax barrier

    Proposals in Japan to allow the use of foreign company shares in stock-for-stock deals with domestic entities are likely to fail because the government will not remove prohibitive tax burdens. Philip Quirk, head of legal at Morgan Stanley in Japan, reviews the developments

  • How UK laws are easing bank mergers

    The Financial Services and Markets Act provides a simple way to reorganize banks. John Odgers, a barrister from 3 Verulam Buildings, London, answers key questions about how the process works

  • Financial downturn tests Nordic takeover law

    Falling stock markets have led to a string of M&A deals putting unprecedented strain on public bid regulations in Norway, Finland, Denmark and Iceland. Thomas Williams reports

  • US proves flexible on Sarbanes-Oxley for foreigners

    Seven months after Sarbanes-Oxley was passed, Jay Clayton, Richard Morrissey and Jack Bostelman of Sullivan & Cromwell look at how the SEC has addressed some of the concerns of non-US issuers affected by its new rules

  • SEC adopts rules for non-Gaap information

    Rules requiring companies to report Gaap equivalents to their non-Gaap numbers could bury useful information among confusing detail and discourage management from providing certain data in SEC filings. It may be investors who suffer, says David Bernstein, of Clifford Chance, New York

  • How private equity investors can avoid directors' liability

    Private equity investors are increasingly seeking post-WTO investment opportunities in China, but risk management techniques are essential if the new directors do not want to fall foul of the law. By Michael J Moser and Seung Chong of Freshfields Bruckhaus Deringer, Hong Kong

  • Court rules on Isda close-out calculations

    An Australian court has ruled that the experts consulted to provide quotations for the calculation of a close-out amount under an Isda Master Agreement should have used a valuation method radically different from the one commonly accepted. The decision has implications for the valuation of Isda-based derivatives, says Andrew Fernbach of Mallesons Stephen Jaques

  • Tackling Asia's bad debt

    In an exclusive interview with IFLR, Arthur M Mitchell, the Asian Development Bank's new general counsel, explains how the Bank's commitment to working with the private sector can spur legal reform across the region. Reducing the bad debt burden is top of his list. By Andrew Crooke

News analysis

International briefings