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Revised Trust Law

Japan's 80-year-old Trust Law is expected to be significantly revised next year to provide a more modern and sophisticated trust system to facilitate the wider use of trusts. Last July, the Ministry of Justice published, for public comment, an outline summarising many of the provisions that are expected to be included in the new law.

November 01 2005

Irish aviation industry in full flight

The global aviation industry has encountered considerable turbulence in recent years, but it appears that clear skies lie ahead. Ireland is widely known as a strong contender within the aviation financing and leasing sectors and recent developments (both domestic and international) serve to maintain and fortify that position.

November 01 2005

The mechanics of squeeze-outs

Squeeze-out mechanics are of special importance for Hungarian public companies. However, the definition of a squeeze-out set out in Act CXX of 2001 on Capital Markets (the CMA) poses difficulties in practice. In particular, certain aspects of a squeeze-out (for example, calculation of the applicable threshold) remain doubtful under Hungarian law. The implementation of EU Directive 2004/25/EC of April 21 2004 on Takeover Offers could bring changes to the current system in Hungary.

November 01 2005

Higher yields for property

The real estate market in Bosnia and Herzegovina (BiH) is increasingly buoyant. Foreign investors are rapidly becoming aware that they can buy relatively inexpensive property directly or through the use of a BiH company. At present, the price per square metre of an apartment in the capital city of Sarajevo is between €500 and €900 ($600-1,080), depending on the age of the building and whether renovation is required. It is not just residential property which is in demand.

November 01 2005

Editorial

In the financial sector the European Commission has been relatively quiet in 2005, perhaps taking a breather after the legislative frenzy that characterized the past four years. Now the Commission is ready for action once more and looks set to tackle shareholder discrimination. But any proposals will face fierce resistance.

November 01 2005

Requirements eased for import of aircraft on lease

The last year has seen a phenomenal leap in the Indian airline industry, with a number of small, low-cost, no-frills airlines being floated on the stock exchange, leading to a growing demand for passenger aircraft, most of which are imported into India.

November 01 2005

Reforms bring Spanish hybrid capital onshore

An unfavourable corporate law regime for hybrid capital in Spain has been dismantled, leading to the return to Spain of deals structured through the Cayman Islands. Ramon Girbau, Alejandro Miquel and Alex Pujol explain

November 01 2005

Takeover law harmonization proposed (part II)

The Serbian government has proposed that the national parliament should adopt a new takeover act, to address the shortcomings of the existing legal framework for takeovers. The government intends to create a single piece of legislation with fully developed rules to replace the present fragmented regulations. Many of the provisions of the new takeover act follow the EC Takeover Directive. The principal provisions of the proposed takeover act are as follows:

November 01 2005

LMA revises distressed debt documentation

Changes to standard debt settlement documentation in Europe give buyers more legal certainty, explain Diane Mage Roberts and Caroline Hardcastle

November 01 2005

Confidentiality in Latvian credit institutions

The Latvian Credit Institution Law of 1995 has been amended. It now outlines more specific disclosure regulations for Latvian banks concerning information on clients and those clients' transactions.

November 01 2005

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