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Anastasia Dritsa Dimitrios Karastogiannis In April 2011, Greece adopted Law 3959/2011 with a view to modernising its competition rules and introducing stricter sanctions.

For years, business leaders and commentators have observed that the regulatory requirements to be met to finance companies in the United States have become overly burdensome and discourage entrepreneurship. These observations tended to fall on deaf Congressional ears that were more attuned to hearing lurid details of corporate misdeeds, stock option backdating and insider trading.

The new Turkish Commercial Code (TCC) was ratified by Parliament in January 2011 and enters into force on July 1 2012. It introduces the multi-corporate enterprise concept and controlling company in this context, and includes certain principles applicable to assistance that subsidiary companies provide to their controlling companies for the purposes of facilitating transactions undertaken by such controlling companies.

Thailand's Securities and Exchange Act B E 2535 (1992) (SEC Act) and new takeover rules require reporting thresholds for substantial acquisitions or dispositions, by an investor's own act or acting in concert with others, of Thai listed shares based on increments of 5% of the total voting rights of such listed company.

Chinonyelum Uwazie Vincent Iweze In 2009, a banking crisis rocked the Nigerian financial industry when the Central Bank of Nigeria (CBN) discovered that 10 of the 24 deposit banks were highly undercapitalised. Worries persisted, albeit subtly, until recently when the Nigerian Deposit Insurance Corporation (NDIC), the body responsible for insuring deposits of money institutions in Nigeria, took over the management of three of these banks due to their failure to demonstrate their ability to recapitalise by the September 30 2011 deadline set by the CBN.

The previous issue of the Polish international briefing devoted to insolvency regulations presented the legal grounds for bankruptcy, types of bankruptcy proceedings and consequences of bankruptcy as regards the debtor's (bankrupt's) right to manage its business. This issue lays out the ramifications of bankruptcy on the obligations of, and proceedings involving, the bankrupt.

Sosuke Kimura An act amending Japan's Financial Instruments and Exchange Law (FIEL) was passed in May 2011. The amended FIEL, which is scheduled to become effective by May 24 2012, will include revisions to, among other things, the disclosure systems for rights offerings.

Marielle Garrigó Project finance transactions have been executed in the Dominican Republic for several years now, mainly for infrastructure projects. Although the existing regulatory framework in the country does not contemplate these types of operations, the regulations have actually demonstrated to be favourable to the creation of a body of contracts and documents that provides a viable structure for financing large projects in Dominican territory.

The Independent Commission on Banking’s report heralds the biggest shake-up of the UK bank sector in decades. But what did the lawyers have to say?

Industry insiders agree that Turkey’s liberalising energy market is an investment opportunity not to be missed. However, ambiguity surrounds the final financing terms