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Institutional investors in China can now invest in securities overseas. Jeremy Xiao and Beiliang Wang assess the implications

Linklaters and Simpson Thacher & Bartlett were international counsel on a $300 million acquisition financing to purchase a controlling stake in Ssangyong Corporation. John Maxwell and Sanghoon Lee led the Linklaters team advising the borrower and acquirer Morgan Stanley Private Equity. The international lenders were advised by Simpson Thacher & Bartlett while the Korean lenders retained Lee & Ko. Separate teams at Kim and Chang provided Korean law advice to the sponsor and the international lenders.

On March 13 2005, the Romanian parliament enacted the long-expected Law 31/2006, regarding the securitization of receivables. The Law entered into force a month later, but it will be three months before the secondary legislation is enacted. Until then, a primer on the main provisions of the Law might be helpful for interested investors.

Based on the aforementioned characteristics of Slovenian corporate governance, the independent experts proposed in their report certain changes to the Code as well as to the company law. The changes focused on the independence of supervisory board members.

The Maltese government has recently stepped up its efforts to promote the use of venture capital as a means of financing by providing a tax credit of up to 30% of the investment to unit holders in designated venture capital funds.

On March 13 2006, a bill concerning the Financial Instruments and Exchange Law (the FIEL) was submitted to the Diet. The FIEL will amend, with respect to various financial instruments, a number of statutes to ensure greater investor protection and to regulate traders dealing in financial instruments. Under the new regime, investor protection will be broadened and strengthened, but some regulations will be eased to reduce trading costs associated with excessive restriction. The FIEL is expected to come into effect within 18 months of its promulgation.

The Latvian government has considered draft amendments to the Competition Law of 2001.

Matthew Howard and Gabriele Roehl explain how property securitization in Germany defied the pessimists and grew without legislative help

The restructuring of drugstore chain Ihr Platz has shown that the combination of an insolvency plan and self-administration can create fast-track restructuring in Germany, say Lars Westpfahl and Jochen Wilkens

A new way to buy out minority shareholders should make acquisitions in Germany simpler and quicker, say Matthias Horbach and Stefan Koch