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Jeroen den Hamer Joost Volkers The Dutch statutory prohibition on financial assistance for Dutch private limited liability companies (BVs) prohibits a BV – and its (foreign) subsidiaries – from granting security, providing a price guarantee or otherwise supporting or binding itself jointly and severally with or for third parties for the purposes of the subscription or acquisition by others of its shares, or depository receipts thereof. It also prohibits a BV from providing loans for these purposes (acquisition loans), unless certain statutory requirements have been met.

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.

Courage Isibor Shares relate to the proprietary interest that shareholders have in a company and are the basis for the existence of a relationship between a company and its shareholders. The significance of this interest is that it is the object through which the holders become members of a company, such that the issuance of a share certificate under the common seal to shareholders constitutes prima facie evidence of the title of the members to those shares (s.1 of the Companies and Allied Matters Act). This paper-based system, however, is fast becoming obsolete, as technological advances have resulted in a global preference for electronic mechanisms of recognising the ownership of shares.

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.

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

Asian businesses should not assume Burma, North Korea and Iran sanctions are only a US concern

Libya’s regulatory framework offers plenty of room for growth in the conventional and Islamic finance sectors once stability is achieved

Alexander Vogel, Daniel Schoch and Debora Kern of meyerlustenberger discuss the range of liabilities on de facto directors and officers under Swiss law