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Andrej Kirm On June 30 2011 the latest amendment to the Financial Collateral Act (FCA) will come into force, with its main objective to assist the economy in tackling the credit crunch, thus creating new jobs and incentives for economic growth.

Christian Temmel In March 2011, the Austrian Constitutional Court passed a ruling by which a part of the Austrian Stock Exchange Act will be abolished as being in contradiction with the Austrian constitution.

Chinonyelum Uwazie Vincent Iweze The recent dispute between Multi-links Nigeria and Helios Towers Nigeria reveals the enormous challenges to which companies operating in Nigeria are constantly exposed and underscores the need for effective due diligence and in-depth legal advice for companies wishing to invest in Africa.

Dr Teuta Dobi Endrit Shijaku In an effort to make the most of the potential of the economy and to allow those holding so-called informal capital to begin freely investing with a clean slate, the government of Albania has put forward a much-debated law that provides for a limited tax amnesty and, more importantly, legalisation of capital. The law was recently passed by the Albanian parliament and takes effect from May 18 2011.

The ECJ’s rejection of a derivatives counterparty’s ultra vires argument provides clarification for future cases

The US has embraced cov-lites once more. And some terms are riskier than pre-crisis

Recent changes to South Africa’s corporate regime provide new opportunities for foreign companies

The takeover of a Thai-listed public company is subject to the Securities and Exchange Act BE 2535 (1992) (SEC Act) and the new Notification of the Capital Market Supervisory Board No. TorChor 12/2554 Re: Rules, Conditions and Procedures for the Acquisition of Securities for Business Takeovers. The Notification became effective on June 1 2011 and revised the former rules as follows:

Chun-yih Cheng The amendments to Taiwan's Insurance Law passed the third reading of the legislative body in mid-June to deter unapproved offshore insurance policies by raising the punishment from administrative fines of between NT$900,000 ($31,200) and NT$4.5 million to imprisonment of up to 3 years or criminal fines between NT$3 million and NT$20 million, or both. On the other hand, the amendments allow insurance companies to collect sensitive personal data, which is otherwise prohibited by the Personal Data Protection Law, to facilitate smooth operation of their business.

Se-Jin Kim The Korean Financial Supervisory Service and the Korea Exchange (KRX) have announced solutions to various problems associated with the growing equity-linked warrants (ELW) market. Following the initial announcement by the Service in May 2011 which promised a number of measures designed to create a more stable environment for the market, KRX released a public notice on June 14 setting out specific changes which will be made to the applicable regulations. Some important aspects of these proposed changes are as follows: