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  • Ian Mann Simon Hudd In July 2011, in a case called HRH Prince Faisal v PIA Investments BVIHC, the British Virgin Islands' High Court considered whether parties could contract out of the BVI statutory mechanism for the appraisal of shares following a forced redemption by the majority (often referred to as the squeeze out of minority shareholders).
  • A French ruling on the Belvédère case has shed light on the role of the trustee in insolvency proceedings
  • IFLR's annual Middle East awards ceremony has taken place. Read on to find out the night's winners
  • Leveraged loan covenants are showing banks’ hesitancy to finance all but the strongest of credits. More robust market flex terms and bigger equity checks have characterised deals coming to market during summer
  • Foreign participation in the Thai banking sector has been limited through a 25% foreign ownership cap in Thai banks. The Financial Institution Business Act, BE 2551 (2008) relaxed this restrictions somewhat and allowed for foreign shareholders to hold up to 49% of a financial institutions' shares, subject to authorisation by the Bank of Thailand, given on a case by case basis.
  • We knew it was coming. Section 619 of the Dodd-Frank Act called for a prohibition on proprietary trading by certain banking entities and limits investments in or sponsorships of private equity or hedge funds. A leaked version of the draft rule had been released several weeks ago. But even having that leaked version out did little to soften the blow for market participants who have reacted sharply as the proposed regulations were approved for release by the banking agencies and the SEC.
  • On October 11 2011 the Cabinet approved reductions in corporate income tax rates, and ordered the Board of Investment (BOI) and Ministry of Finance to review the benefits provided through BOI's investment promotion.
  • Sul A Lee The Trust Act of 1961 has recently been completely revamped and is expected to significantly affect various financial transactions once it comes into force on July 26 2012. It is expected that these changes will set the necessary foundation to improve Korea's trust laws and bring them in line with global standards. The most significant changes are as follows.
  • Continuing with an examination of insolvency regulations in Poland, one could ask a tricky question: it is obvious that an entity will be deemed insolvent if it fails to satisfy (discharge) its due and payable obligations, but could an entity that does perform its obligations duly and in a timely manner be deemed insolvent as well? Surprisingly, insofar as corporations are concerned, the answer to the question is 'yes' and this is because of a concept commonly know under the name of technical insolvency.
  • Francisco Darío Lobo In Honduras, domestic and foreign investment is regulated by the Investment Promotion and Protection Law (in force since May 27 2011). This law provides for a series of guarantees for the investors and their investments, regulates private investment insurance, title insurance for the acquisition of real estate, and protection for investments over real estate.