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The panic of 2008 and may be well behind us, but the restructuring and insolvency lawyers are still dealing with the fallout from the crisis

From December 1 2011, Decree No 90/2011/NÐ-CP (dated October 14 2011) on the issue of enterprise bonds came into effect. It replaced Decree No 52/2006/NÐ-CP (May 19 2006) on the issue of enterprise bonds and some selected provisions of Decree No 53/2009/NÐ-CP on the issue of international bonds.

Andreas Moll Pursuant to a press release of February 3 2012, the Swiss Competition Commission (Comco) has received information regarding potentially unlawful cartel agreements among banks. Specifically, collusion between derivative traders might have influenced the Libor and Tibor reference interest rates. Furthermore, market conditions regarding derivative products based on these reference rates might also have been manipulated. The Commission has therefore opened an investigation against UBS and Credit Suisse, as well as more than 10 foreign institutions (Bank of Tokyo-Mitsubishi UFJ, Citigroup, Deutsche Bank, HSBC Holdings, JP Morgan Chase, Mizuho Financial Group, Rabobank Groep, Royal Bank of Scotland Group, Société Générale, and Sumitomo Mitsui Banking Corporation).

Yoichi Maekawa The term Islamic banking refers to banking transactions that are made in compliance with the religious principles of Islam. For instance, Islam prohibits the imposition of interest obligations, and this raises unique issues with respect to lending arrangements and the issuance of debt instruments. In Japan, conventional bonds issued in accordance with the Companies Act generally provide the bondholder the right to receive interest payments on the amount invested or paid for the bond and, as such, do not comply with Islamic tenets.

The National Commission for Banks and Insurance Companies (Comisión Nacional de Bancos y Seguros, CNBS) is legally in charge of regulating and supervising banks, insurance companies and securities operations in Honduras.

Despina J Doxaki The financial crisis throughout the eurozone has had a significant impact on the structuring of project finance deals, particularly with respect to the way in which country risks and lenders credit risks are effectively addressed.

Lawrie Kearns The issue of confidentiality in offshore financial centres is high on the agenda in the financial press. Whether it is banking secrecy or the disclosure requirements governing the establishment of offshore companies and trusts, legislation seeking to obtain information is at odds with the long established common law duty of confidentiality.

Carlos Fradique-Méndez Alejandro Galindo Hurtado With the issuance of Decree 4765 on December 14 2011, the Colombian government provided the necessary registration procedures for early termination and close-out netting provisions to be fully enforceable under over-the-counter derivative transactions. The registration procedures set out in Decree 4765 also enable a secured party to liquidate collateral upon insolvency of the counterparty without judicial proceedings.

The Canadian competition deputy commissioner says the country’s new merger guidelines are not a policy change

With the Financial Services Bill reaching the second reading in the House of Commons, the new regime is getting closer. What will the changes mean in practice?