Search results for

Pre-merger notification has arrived in Brazil. Here’s a practical guide to obtaining competition clearance under the new rules

After a four-year lull, securitisation is easing its way back into China. Despite the market's unenthusiastic response to the People's Bank Of China's (PBOC) plan, announced in March, to allow five participating banks to securitise credit assets, developments elsewhere give a sense of China's securitisation goals.

On top of being bad policy, transaction tax has little impact on volatility. Knight Capital's rogue algorithm resulted in a $440 million trading loss for the market-maker that made wild trades for 45-minutes before pulling the plug on its new system. Perhaps more concerning to market participates is the trading blunder's potential to rally support for a policy solution that is anything but.

Diversification of Russia’s banking sector following its accession to the WTO will be constrained by raising global capital requirements. But the sector should be bolstered by loan standardisation expected this year

German and French insolvency reforms are trying to deter forum shopping and encourage pre-bankruptcy proceedings. But are they working?

Law Decree No 83 of June 22 2012, converted into law with amendments by law No 134 of August 7 2012, is part of a number of new laws recently enacted by the Italian technicians' government aimed at spurring Italian economy.

Louise Hill Graham Natalie Bell Generally speaking, the British Virgin Islands (BVI) is an extremely flexible jurisdiction in relation to the granting and registering of security interests. One of the strengths of the BVI as an offshore jurisdiction is that it provides a stable platform for companies to provide collateral as security for debt finance and for the secured lenders to register and protect the priority of their interest. However, the largely unfettered right of business entities formed in the BVI to grant and register security interests is subject to one particular footnote which is easily overlooked. In the BVI, business entities are required to hold licences in order to conduct certain types of regulated business "in or from within" the Territory (meaning either through a BVI entity, or through a foreign entity physically operating within the jurisdiction). These licences are issued by the BVI Financial Services Commission (FSC) and regulate certain types of financial services activity. The principal types of regulated activity include banking business, trust business, insurance, investment business and company management business.

Chinonyelum Uwazie Claims relating to interests constantly feature in suits filed before courts in Nigeria and have been the subject of several appeals over the years. While the courts have established precedents with regard to post-judgment interests owing mostly to the various rules of courts permitting such awards subject to court discretions, the practice relating to award of prejudgment interests remains uncertain. Save for a few isolated cases (Nigeria General Superintendence Co. Ltd v Nigerian Ports Authority (1990) I NWLR (Pt. 129) 741 and Adeyemi v Lan & Baker (Nig) Ltd (2000) 7 NWLR (Pt.663) 33), Nigerian courts have relied mostly on the common law holding in London Chatham & Dover Railway v S.E. Railway Co. [1893] AC 429 to hold that interest may be claimed only as of right where it is contemplated by agreement between parties, under mercantile custom, statute, or under a principle of equity such as breach of fiduciary relationship (see Ekwunife v Wayne (West Africa) Ltd (1989) 5 NWLR (Pt.122) 422.

Distressed investors and their lawyers were still digesting the impact of Royal Decree Law 18/2002 (RDL 18/2002), dated May 11, on the restructuring and transfer of real estate assets from financial entities, when a draft of the July 2012 Memorandum of Understanding (MoU) agreed at EU Council level on financial-sector policy conditionality was disclosed some days ago. There is now an agreed MoU dated July 20 which sets up a broad variety of specific measures to reinforce financial stability in Spain in the context of the recapitalisation of the Spanish banking sector.

Investigations into South Korea’s CD rate-setting prompted the country’s FSC to introduce the Cofix benchmark for short-term lending rates. But there are issues with Cofix setting too