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Recent company rescues in the UK and US hold a lot of lessons for lawyers advising on similar deals

Javier Fontcuberta Bart Capeci Cuatrecasas Gonçalves Pereira has hired Javier Fontcuberta to its corporate department in Barcelona. Fotcuberta moves from Landwell, also in Barcelona, where he was co-head of the firm's corporate department.

The treatment of secondary trading of transferred loans is different in England and New York in some surprising ways

It's looking good for legislation to provide certainty for US covered bonds. But European banks are also pushing to issue dollar-denomiated versions. The race is on

The Federal Reserve Bank of New York (NY Fed) is considering easing its stance on granting loans through the Term Asset-backed securities Loan Facility (Talf) for commercial mortgage-backed securities (CMBS)

While the bewildering effects of the world economic crisis are still lingering, investors – aware that the fog is dissipating – are gearing up to hunt big game again. For those watching Turkey closely, the Turkish privatisation authority's programme for 2010 seems a call to arms.

Following the financial markets' comeback, Swedish banks are starting to regain that which was lost in the near-perfect storm that struck following the Lehman Brothers collapse. Swedish banks SEB and Swedbank have both recently announced their respective debt buy-back programmes, aiming to strengthen the banks' important core capital bases (Tier 1 and Tier 2).

The Financial Investment Services and Capital Markets Act (the FISCM) of Korea, which became effective on April 1 2009, emphasises following four regulatory areas: (i) the concept of financial investment products defined on the basis of a negative system (where related actions are allowed unless expressly prohibited), (ii) regulation of financial investment businesses according to function, (iii) expansion of the scope of financial investment businesses, and (iv) modernisation of the investor protection system.

The new Bill on Strategic Companies, which was approved on November 5 2009 by the Slovak Parliament, sparked vigorous political discussions. The opposition, together with representatives of employers' associations and business associations, warns that the bill may have a harmful effect on the business environment and discourage investment.

In the absence of a general anti-tax avoidance rule, numerous cross-border transactions in Indonesia are structured to minimise Indonesian tax. There are various specific anti-tax avoidance rules such as CFC and thin capitalisation, but the tax authorities are apparently worried that treaty abusive practices still occur. Back in 2005, the Indonesian tax authority commenced its efforts to combat those practices by issuing circular letters on beneficial ownership and a unilateral increase of withholding tax on interests paid to Dutch tax residents from 0% to 10%. As part of the reform process, the 2008 income tax law also explicitly defines a beneficial owner. A large number of those measures are considered less than successful, as there were many international tax disputes that were verified in court and decided in favour of the taxpayer.