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On November 17 2008, a committee organised by the Ministry of Economy, Trade and Industry to study new employee stock ownership plans released its report. The report mainly aims to maintain and enhance the global competitiveness of Japanese companies by promoting the introduction of new employee stock ownership plans. Actually, some companies have already started to introduce such new plans (Japanese ESOPs), which are named and somewhat modeled after employee stock ownership plans in the US. However, the number of companies with new plans is still small because there are some potential legal, accounting and tax issues associated with such new plans. Therefore, in order to make new plans more prevalent, the committee studied these issues, and released a report that suggests possible solutions.

The Republic of Srpska (RS), one of the two entities that comprise Bosnia and Herzegovina, adopted a new Law on Business Companies (Companies Law) on December 10 2008. The new Companies Law, effective on July 1 2009, introduces a number of innovations to the existing company law legislation. Many of the changes reflect an attempt to bring RS company law into closer alignment with the company law directives of the EU.

Government input in competition law can be useful, but at the risk of dangerous precedent

The best options for acquisition financing in the US are new, non-convertible Pipes and tweaked stock-for-stock deals

A review of some of the key structures available in today’s market, with a focus on the LSE Official List

Lift Capital v Merrill Lynch will provide relief to counsel of prime brokers everywhere

Convertible bonds are being restructured with lower conversion premiums, synthetic stock-borrow and more investor protection

European regulators and industry bodies are divided over how to structure a European clearing system for credit default swaps

Regulators want to split up bank activities

Hugh Owen, Martin Magál and Renátus Kollár of Allen & Overy outline issues relating to insolvency and restructuring in the Slovak Republic