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New rules to encourage placements by institutional investors in India will stimulate the domestic markets, says Cyril Shroff

The way is now open for foreign investors to take over Chinese companies. The question is how the authorities will react to a high-profile deal, say David Boitout and Raphael Chantelot

A scam to impersonate retail investors in an IPO is very worrying for India's developing capital markets, says Sandeep Parekh

The key to Russia's booming economy seems obvious: energy. Oil prices have moved steadily higher and demand for gas has increased all over Europe in the past few years. Even if these two price pressures lessen, scarcity of supply suggests that Russia's economic future is secure.

Cleary and Debevoise reap rewards of SEC turnover A busy year of senior-level arrivals and departures continued for the SEC, with law firms providing the most common recruiting grounds and destinations for departing officers.

Although with its recent recodifications Ukrainian law has developed into a generally satisfactory legal system, some significant problems remain. In particular, Ukrainian law imposes a number of drafting requirements applicable for loan, credit and similar agreements between foreign lenders and Ukrainian borrowers (hereafter, loan agreements) that are unusual and that, unless satisfied, risk causing the invalidation of loan agreements with foreign lenders. Two such important special requirements are that an agreement between a foreign lender and a Ukrainian borrower must be in the Ukrainian language as well as the language of the lender, and any such agreement must contain an express clause on its duration.

Dunkin' Brands sets new mark for buyout securitization Paul Weiss Rifkind Wharton & Garrison and Ropes & Gray were lead counsel on the first securitization of franchise rights to be used as financing for a corporate takeover.

While financial analysts and ratings agencies are actively involved in the growing Reit regime in Singapore, banks, so far, have been left behind. This is despite the fact that the Monetary Authority of Singapore (MAS) has recognised the growing need for Reits to gear up. Last year, MAS proposed to amend the existing guidelines governing Reits, among other things increasing its cap on borrowings from 35% to 60% of deposited property, provided it has a credit rating of at least A from a major rating agency.

Law 85/2006 regarding insolvency procedures, published in the Official Gazette 359 on April 20 2006, will enter into force on July 21 2006 and has replaced in full the former bankruptcy law, enacted in 1995.

Malta implemented the Ucits III regime immediately upon accession to the European Union on May 1 2004. After a slow start, there is an increasing interest from fund managers to choose Malta as the domicile for their Ucits-compliant funds. In line with the current interpretation of the Ucits Directive, the preferred methodology entails the utilization of self-managed funds and delegation arrangements. Self-managed funds formed as corporate entities (usually a SICAV) are managed by the board of directors, which can in turn delegate a number of management functions to an external management company which is authorised in any EU Member State and recognised in Malta.