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Mian Muhammad Nazir The compatibility of contemporary insolvency legislation in the context of Islamic financial institutions and Islamic capital markets instruments is an important subject which regulators, courts and other stakeholders must address sooner rather than later to ensure the sustainable and continuous growth of the industry. This issue deserves more serious consideration from the legislatures and regulators as lack of an appropriate and legal and regulatory regime on insolvency in respect of Islamic financial institutions would certainly affect insolvency proceedings and the remedies sought or granted pursuant to such proceedings. Some of the most commonly used Islamic contracts and instruments result in automatic preference for investors and, in some cases, particularly when the competing obligations of an obligor are not shariah compliant, even a contractual waiver (either for a pari passu arrangement or sub-ordination) may not be effective. Considering the unique business model of Islamic financial institutions (IFIs) and the nature of the shariah nominate contracts and instruments, many of the well-drafted laws and regulations on insolvency may not be relevant to IFIs in the event of any insolvency or restructuring proceedings.

Money market mutual funds (MMFs), while benefiting from quality and liquidity floors implemented in 2011, remain a source of vulnerability for the US economy. The Financial Stability Oversight Counsel (Fsoc) should see that fund managers hold enough capital in the event of another meltdown.

A welcome court ruling confirms that foreigners can rely on shareholders’ agreements to protect their investments in China

The US has a powerful set of discovery tools, under 28 USC Section 1782. Here is how they can be used by companies in the EU

At $20 billion, the Ichthys LNG project is the biggest financing arranged in the international markets. The deal also signals a fundamental shift in project finance, with deal counsel expecting more complex deals ahead

The US government’s decision to renew the wind production tax credit (PTC) programme as part of last month’s fiscal cliff deal will create a burst of new wind projects in 2013

To mark its 30th anniversary, IFLR's journalists spoke exclusively with the 30 witnesses behind the 30 key global financial events from the past three decades

Subscription credit facilities will be one of the most prominent features of the private equity and investment funds landscape in 2013, according to US and Cayman Islands lawyers

With the US forecasted to overtake rivals Russia and Saudi Arabia as the world’s leading oil producer by 2017, lawyers expect furious battles on sector’s regulation in the coming year

KKR’s $200 million investment into Masan Consumer highlights private equity’s renewed interest in the jurisdiction. Here’s what you need to know