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Under Article 21-nonies of Law 241 of August 7 1990 the annulment of unlawful administrative decisions may be ordered by the public entity (a region or other local authority, for instance) that approved them, provided the annulment is taken on the basis of public interests, within a reasonable period of time and taking into account the interests of any person subject to the relevant administrative decision.

It didn’t work for Holzmann in the late nineties. But the German government is trying again, with Chancellor Angela Merkel promising a €1.5 billion ($2.1 billion) bridge loan to Opel, part of General Motors’ (GM) European operations.

Companies with operations in China should prepare for dawn raids, as the State Administration for Industry and Commerce (SAIC) publishes its first procedural rules on the investigation of suspected cartels and abuses of dominance.

The signing and closing of deals by electronic means is no longer straightforward. Even with best practice established by a working group, there will be complications

Andrew Baker, chief executive officer of Aima, responds to criticism of the body's reaction to the draft Alternative Investment Fund Managers Directive

Offshore specialist Appleby is merging with Dickinson Cruickshank to form its first Isle of Man office. Effective October 1 2009, the firm will have 11 partners based in the Isle of Man under the name Appleby. It's the firm's third expansion in the last five years, adding groups of partners in the Cayman Islands and Jersey.

Mergers and acquisitions have become popular recently as a result of the financial crisis, especially among credit institutions. To deal with this, State Bank of Vietnam (SBV) has drafted a circular guiding the merger and consolidation of credit institutions in Vietnam.

On April 10 2009, the Turkish Capital Markets Board (CMB) published a draft communiqué on the rules for mandatory and voluntary tender offers, an area currently regulated by the Communiqué on Principles Regarding Proxy Voting at Shareholders' Meetings of Publicly Held Joint Stock Corporations, Proxy Solicitation and Tender Offers, Serial: IV, No: 8. (A revised version of the Draft Communiqué was published on June 3 following initial comments.)

The Charter of the Philippine Deposit Insurance Corporation (PDIC) was recently amended to increase the insurance coverage from P250,000 ($5,200) to P500,000 for each bona fide depositor. This is partly in response to the need to strengthen the country's banking system in the midst of the global economic slowdown.

The income of states and municipalities in Mexico highly depends on the participations (participaciones) and other contributions (aportaciones) transferred to them by the federal government. Since the early eighties, the fiscal structure of Mexico has been completely changed and local sale taxes and more than 400 state taxes have been repealed in exchange for a centralised taxation by the federal government. Currently, more than 80% of the income of the states and municipalities depends on such participations and contributions and the balance, on the collection of state and municipal taxes.