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By Malcolm Lombers, Stephen Wilkinson, James Quinney and Alison Brown of Herbert Smith

Online UK property marketplace Rightmove completed its £425 million ($744 million) initial public offering (IPO). The company listed on the London Stock Exchange on March 15 and is reported to be investing ahead of changes to UK property law that bring in mandatory buyers' information packs in June 2007. Rightmove's website is the UK's largest property portal. Herbert Smith, through lead partner Greg Mulley, advised sponsor and sole bookrunner UBS on the deal. Slaughter and May advised Rightmove and Addleshaw Goddard advised the selling shareholders.

An arbitrator who knows the parties well, being intimately involved in their relationship and difficulties, can be valuable. Knowledge of the problem and business might lead to a more commercially correct award than that rendered by a disinterested party. However, should this intimate arbitrator decide on issues relating to his own jurisdiction?

The Romanian financial and banking system has enjoyed spectacular growth over the last several years-both from an institutional perspective and in the introduction of financial instruments similar to those found in more developed market economies.

The Maltese Parliament is considering a new securitization law generally based on the Luxembourg model. It provides a comprehensive framework for the conversion of receivables or other assets into securities that can be placed and traded in capital markets. Issued securities are collateralised by the pool of assets which are transferred to a separate entity, the securitization vehicle, also referred to as a special purpose vehicle (SPV). The SPV can take the form of an investment company, a partnership, a trust or any other legal structure permitted by the competent authority.

Ben Maiden reports on how the Supreme Court closed the door on class action suits and further tort reform

AEON Thana Sinsap closed its second credit card securitization, which was also the second such deal for Thailand. The Bt 2.28 billion ($59 million) securitization of credit card receivables was the first to use subordinated bond tranches. Allen & Overy's Bangkok office advised arranger and manager Citicorp Securities while Baker & McKenzie acted as seller's counsel. Bangkok head of banking Stephen Jaggs led the Allen & Overy team.

In its 2006 report on money laundering and financial crimes the US State Department reported that "the Republic of Cyprus has put in place a comprehensive anti-money laundering regime". While noting that, like all other major financial centres, Cyprus remains vulnerable to international money laundering activities, the report's assessment is that Cyprus has developed a framework of measures that comports with international standards.

By Katarina Kresal of Attorneys at law Miro Senica in odvetniki

By Delphine Nougayrède of DLA Piper Rudnick Gray Cary