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EU stock exchanges are taking action to stop issuers deserting them over cost hikes caused by the incoming Prospectus Directive. Michael Evans reports

Terri Mottershead, Lex Mundi Charles Doyle, Clifford Chance Lex Mundi appointed Terri Mottershead to the new post of director of professional development. Mottershead will develop best practice documentation, advise on training initiatives and set writing standards for Lex Mundi's member firms. Mottershead was director of training at Hong Kong law firm Johnson Stokes & Master.

New regulatory limitations on offshore restructuring by Chinese private enterprises will limit their ability to attract overseas financing, say Terence Foo and Jeffrey Ren

The Danish Government has recently proposed a new form of charge over the assets of businesses. In English terms, the virksomhedspant would be recognized as a form of a fixed and floating charge. If introduced, the proposal could benefit financial institutions and corporations by simplifying the structure for taking security over assets of businesses. The vehicle would be a special mortgage deed registered in a public registry with reference to the assets (or, in a restricted form, to the portfolio of trade receivables). Previously, in Denmark, the regime for taking security required that individual assets be recognized and identified and the security over them established with reference to those particular assets.

Continuing his article on applying securitization to social housing finance, Chris Oakley explains why the market has been slow to go beyond bank loans, what the legal barriers are, and how deals in the sector have been structured around Europe

A recent securitization shows innovation is possible even in the most commoditized asset classes. By Michael Evans

IFLR held its biggest-ever awards ceremonies in March, with events in Hong Kong and London to reward the top firms for innovation in corporate finance in 2004

Andrew Carmichael (Linklaters), Leonard Birmingham (Harneys),

Daniel Whitehead explains what debt capital markets participants can learn from recent English law litigation over the responsibilities of trustees

To encourage mergers and acquisitions and thereby the restructuring of companies in Turkey, certain tax advantages to merging companies have been regulated under the relevant tax regulations. The banking crisis in 2001 has prompted the Banking Regulation and Supervision Agency (BRSA) to encourage restructuring of the banking system and strengthen the financial structure of banks by setting out certain benefits in its regulations for merging banks under the Regulation on the Merger and Acquisition of Banks (the Regulation).