Communicating the law Emmanuel Guillaume, group executive vice president and general counsel at France Telecom, talks to Barbara Galli
Comment The traditionally separate businesses of commercial banking, securities and insurance are increasingly merging. An overall approach to supervision is required. By Philip Wood and Paul Phillips of Allen & Overy, London
Quebec requires registration of securitization programmes Quebec’s new Bill 181 amends the Civil Code to require registration of secured transactions. It has important implications for securitization. By Sterling Dietze of Stikeman, Elliott, Montreal
Correct structuring can ensure payment of letters of credit Potential moratoria on payments of foreign currency to overseas persons need not necessarily worry exporters. They can structure to protect their interests. By Andrew O’Keeffe of Simmons & Simmons, London
Finding a way through Indonesian commercial paper The problems in the Indonesian economy have drawn attention to the question of how to enforce bills of exchange and commercial paper. This article provides a guide. By PDD Dermawan of Dermawan & Co, Jakarta
New South Africa boosts private project investment The demand for infrastructure improvement in South Africa exceeds the scope of the public sector. The opportunities for private sector finance are considerable. By Jabulani Mtshali of Deneys Reitz, Johannesburg
Project bonds: a new role for trustees? With projects often needing amendments or waivers from financiers, the use of project agents instead of trustees has been suggested for project bonds. Richard Forster reports
Daimler-Chrysler: a sign of the times? After a string of national mergers at the beginning of the 1990s, German firms are shifting their focus as domestic clients look to international experience. Nick Ferguson reports from Frankfurt
ISDA Master Agreement : can a creditor swipe your swap? A non-US court applying the non-US law governing a swap contract may not recognize a restraining notice served by a creditor as a defence to payment. By Mark P Zimmett from the Law Offices of Mark P Zimmett, New York
Changing bond documentation: the sharing clause Can the resolution of future sovereign debt crises be eased by changes in the legal documents that evidence these obligations? In the first of a series of three articles, Lee C Buchheit of Cleary, Gottlieb, Steen & Hamilton, New York considers the sharing clause
New law resolves issues of bankruptcy The 1992 Bankruptcy Law allowed Russian companies to continue to operate in an insolvent state. New legislation empowers the creditors. By Britt Shaw of McDermott, Will & Emery, Moscow
SEC regulates the sale of securities on the Internet As the securities market increasingly adopts the Internet, the SEC has issued guidelines to help foreign securities companies avoid US registration. By Winthrop Brown of Shaw Pittman Potts & Trowbridge, Washington DC
