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  • During the past 10 years, Honduras has made great progress in the protection of financial users' rights. One of the most significant advances was the enactment on February 3 2010 of the Rules for Strengthening the Financial Transparency, Culture and Customer Care for Financial Users in Supervised Financial Institutions (Resolution 223/26-01-2010) (the Transparency Rules) which were later amended by the Resolution GE 1631/12-09-2011 and supplemented by Resolution GE 1632/12-09-2011 (the Supplementary Rules) effective as of October 8 2011.
  • 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.
  • The August pricing of a dual-tranche $300 million bond offering by Mexican wind farms Oaxaca II and IV set a precedent for renewable energy financing in the region. Here’s why
  • 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.
  • Proposed amendments to Regulation Z of the Truth in Lending Act could increase investment in residential mortgages guaranteed by Fannie Mae and Freddie Mac just as the US government moves to unwind the government sponsored enterprises
  • An offering by PTT Exploration and Production (PTTEP) has marked the first hybrid bond issuance by a non-financial institution in Thailand, and a regulatory shift towards a more disclosure-based regime.
  • US Reits are looking in a new direction The largest joint venture between US and Canadian real estate investment trusts (Reits) took full advantage of the US Reit Diversification and Empowerment Act 2007 (Ridea). The transaction saw US Health Care Reit (HCN) and Canadian Chartwell Senior Housing Reit partner in a $952 million acquisition of 42 Canadian senior housing and care communities from Maestro Residences Retirement Funds.
  • UK white collar prosecutors look set to receive a new enforcement tool following the Ministry of Justice's consultation (the Consultation) on deferred prosecution agreements (DPA), which closed last month.
  • The template will work, but not as a panacea European Market Infrastructure Regulation (Emir) has regulators preoccupied with improving central counterparties (CCPs) systemic risk management. Iosco's recent consultation and LCH Clearnet's newly-launched clearing service could provide a CCP resolution template.
  • Africa's biggest project financing has closed after six years and has showcased a never-seen-before capital structure. The Mostorod refinery delivered an engineering, procurement and construction (EPC) contract robust enough to avoid the need for completion guarantees.