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While broadly agreeing with bankers' counsel, James Tanenbaum believes that some are overly optimistic on Sarbanes-Oxley and too critical of the ratings agencies

China companies listed in the US are better placed to buy assets at depressed prices

Record Indian equity offering The State Bank of India's dramatic headquarters Amarchand & Mangaldas & Suresh A Shroff & Co and J Sagar Associates have advised on a $4.38 billion rights issue for the State Bank of India (SBI) – the second-largest Indian equity offering to date. Amarchand Mangaldas, working alongside Allen & Overy's Hong Kong office, advised SBI on the offering, which included a $2.5 billion subscription by the Indian government. J Sagar Associates, along with Clifford Chance Hong Kong, advised the managers on the fully-subscribed issue.

They're the preferred option for foreign banks

Sponsors and borrowers face tough new conditons on leveraged lending

The Latvian-Dutch tax treaty makes tax planning easier in the volatile Latvian market. It is an ideal solution, says Sindija Lasmane of BDO Zelmenis & Liberte

The Baltics are privatising essential industries, but still retain a degree of control. Zilvinas Zinkevicius, Ermo Kosk and Martins Gailis of Lawin ask how far governments will open the doors to investors

Managers are to increase shareholder value but social responsibility can also be a vehicle, say Andrius Ivanauskas and Sander Kärson of Bernotas & Dominas Glimstedt

Romanian laws governing negotiable instruments (that is, bills of exchange, promissory notes and cheques), drafted in 1934, have not been substantially amended since their entry into force. So the current methods of processing a negotiable instrument in Romania do not differ from the methods used in 1930, especially in relation to bills of exchange and promissory notes. While the technology applicable in the banking sector and especially in relation to non-cash payments has evolved, Romanian banks have been unable to make use of any modern means to process a negotiable instrument. The current legal provisions do not grant legal value to the presentment for payment of an electronic copy of a negotiable instrument. Instead the presentment of the original instrument is required.

Russian targets are easy to acquire but a lack of takeover defences makes them vulnerable