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Under Hungarian capital markets law, the mechanics of public takeover offers work under the general principle of priorly made offers. This concept raises several unanswered issues in practice.

An efficient bankruptcy procedure is a feature of a developed economy. In the US, about 1.5 million bankruptcies occur each year and around 6000 in Austria. These economies rely heavily on undertaking risk and on vigorous consumption. A fast and forgiving bankruptcy procedure keeps entrepreneurs and consumers active and provides balance. Fewer companies in transitioning and developing countries are put into bankruptcy but this is not unexpected, considering that bankruptcy procedures in such countries are usually complex and too expensive for creditors or companies to take on. It is telling that more companies go into bankruptcy in Belgium than in all of Latin America.

Julian Tucker of Shearman & Sterling tells IFLR about the challenges of building a securitization practice in a competitive market

China's newest investment treaties will strengthen the position of foreign investors. Robert Greig and Claudia Annacker explain

The latest overhaul of Mexico's securities laws will require careful implementation to avoid potential problems. James Ritch explains

All go for Exco IPO Haynes & Boone and Simpson Thacher & Bartlett were outside counsel on the $650 million initial public offering (IPO) of Exco Resources. The oil and gas exploration and production company turned to William Boeing of Haynes & Boone's Texas office to guide it through the flotation. Gary Sellers of Simpson Thacher acted for the lead underwriters Bear Stearns, Goldman Sachs and JPMorgan.

Swiss company law does not address the transparency of management and board of directors' remuneration. For companies listed on the SWX Swiss Exchange, the SWX Directive on Information Relating to Corporate Governance (the SWX Directive) requires that management and board of directors' remuneration be disclosed. However, the SWX Directive only requires the total amount of compensation paid to the board of directors and the management board to be indicated. The Swiss Code of Best Practice for Corporate Governance also addresses the disclosure of corporate governance issues. However, the Swiss Code does not provide binding corporate governance standards. It just aims to give recommendations for listed companies.

To attract the billions of dollars held by Middle Eastern investors, the Singapore Exchange (SGX) is developing a series of indices that are compliant with Islamic law (Sharia).

Until 1993, when the telecommunications market was partially liberalized, the 100% state-owned Tanzania Posts and Telecommunications Company (TPTC) was both provider of telecommunication services and regulator of the Tanzanian telecommunications sector.

Serbia's government has prepared a draft Investment Funds Law, which was officially submitted to parliament in September 2005. The draft law was prepared in cooperation with World Bank experts, and was modelled on to the EC Ucits directives.