Search results for

The House of Lords has ruled in the Elektrim bondholder litigation that the trustee to the deal must accelerate debt if asked to do so by bondholders, but should not be liable for the results if the acceleration is shown to be invalid. By Daniel Whitehead

The Turkish budget for 2005 came into force on January 1. The budget fixes expenditure for 2005 at about NTL154 billion ($115 billion), against expected revenues of about NTL124.3 billion ($93 billion). The difference between expenditure and revenue will be funded through borrowings.

Europe’s overhaul of the way securities are traded must balance market efficiency with competition for trading between banks and stock exchanges. Peter Gomber and Jochen Seitz look at how new rules will do that

Bondholder demands for better protection have crystallized after recent deals showing the value of covenants and the potential losses on covenant-free bonds. By Matthew Hartley and Cuthbert Kendall

Christopher Stephens tells how Argentina's IMPSA steered its investment in a power project in the Philippines through three restructurings to an innovative exit

Ben Maiden reports on how Argentina cleared the final legal hurdles to its bond exchange

Wachtell Lipton Rosen & Katz and Sullivan & Cromwell advised the New York Stock Exchange (NYSE) on its headline-grabbing acquisition of electronic trading system Archipelago. When completed, the deal will enable the NYSE to become a public company and might spell the end of its 200-year old floor-based auction trading system. O'Melveny & Myers also advised the NYSE with Sullivan & Cromwell representing Archipelago.

Song-Il An and Je Won Lee of Lee & Ko discuss the Korean legal issues relating to a financial institution's participation in a private equity fund

In one of the largest Austrian deals of the year, Cerha Hempel Spiegelfeld Hlawati advised OMV in the sale of its subsidiary Agrolinz Melamine International to the Abu Dhabi-based International Petroleum Investment Company. M&A partners Clemens Hasenauer and Albert Birkner led the team advising OMV on the deal, which was worth €241 million. A team fromHadef Al Dhahir & Associates in Abu Dhabi represented IPIC. DLA Weiss-Tessbach Rechtsanwälte advised IPIC in Austria. Hilmar Kroat-Reder acted as OMV's in-house counsel on the transaction and David Forbes led the in-house team at IPIC group.

Ben Moshinsky looks back over 12 months in which retail investors remained nervous and the equity markets stayed quiet but securitization continued to grow