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By Krissia Laguardia of FA Arias & Muñoz

Courts in the US have generally recognized solvent schemes set up in the UK, but that might change due to the new round of bankruptcy reforms. By Joe Bannister and Alexander Wood

It is commonplace to find credit information bureaus in Europe, but it is a recent phenomenon (for obvious reasons) in emerging markets. The Bank of Tanzania has only recently decided to follow the example of its neighbour, Kenya, and open discussions with its advisers to put a legal and regulatory framework in place for credit information sharing in Tanzania. In 2001, legislation came into force that enabled the Minister for Finance to make regulations whereby the Central Bank of Kenya and any other institutions licensed under the Banking Act could exchange information on their respective customers. These regulations were formalized in 2004.

In German mergers and acquisitions the buyer often has to pay an additional premium when buying out minority shareholders. Matthias Horbach and Stefan Koch explain how accounting reforms will soon bring change and offer some tips for bidders

Spain's Council of Ministers has recently proposed a new draft Regulation on Collective Investment Institutions (CIIs).

On August 26 2005, the Ministry of Finance & Economy of Korea (Mofe) announced its tax-reform proposals including anti-tax-haven rules. If approved by the National Assembly later this year, the proposed changes are expected to take effect in January 2006.

Bankruptcy laws and blame are inextricably linked. When a company goes bust, people lose money, fingers are pointed and blame apportioned. For public companies especially, the difficult art of value preservation comes into play, while investors demand answers as to what went wrong. Often management takes the fall, as is only correct as they are the stewards of companies, but the real work in keeping a company alive or fairly dividing assets is a long and arduous job, hampered by the lack of harmonization among insolvency regimes around the world.

Slovenian competition law consists of two distinct independent regulatory frameworks. The Prevention of the Restriction of Competition Act (the Competition Act) prohibits restrictive agreements and the abuse of a dominant position and, while the rules on unfair competition aim to prevent behaviour that violates the principle of fairness when performing business activities (the Protection of Competition Act, or the Competition Act 1993).

Introduction