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For years lawyers in The Netherlands have pondered whether a creditor has the option of seizing the unused portion of a line of credit that the creditor's debtor maintains with its bank. It all started in 2001 with the decision of the German Supreme Court (Bundesgerichtshof) dated March 29 2003 answering the question in the affirmative. Almost instantly it was said that the outcome of a Netherlands seizure on the unused portion of a line of credit with a Netherlands bank could be identical or similar to the German conclusion. So all eyes were on the Supreme Court of The Netherlands (Hoge Raad der Nederlanden) as the most senior court to settle the matter, which it duly did in a ruling handed down on October 29 2004.

On January 12 2005, the government repealed the contentious Press Note 18 (PN 18) dealing with foreign financial or technical collaboration under the automatic approval route.

The BVI Business Companies Act (the Act) came into force on January 1 2005. Unlike the International Business Companies Act (the IBC Act), this single statute allows for the incorporation of international offshore companies as well as locally owned companies doing business in the BVI. For a two-year transition period, both the IBC Act and the new Act will be in force. After the two years, the new Act will be the sole corporate statue for the BVI and will regulate all BVI companies.

Boxclever: maintenance problems killed the deal German state-owned bank WestLB has finally rid itself of UK TV rental company Boxclever, almost two years after its securitization deal fell apart.

Andreas Mayr and Tibor Varga, Dorda Brugger Jordis Dorda Brugger Jordis partners Andreas Mayr and Tibor Varga have advised on the largest ever capital market transaction on the Vienna Stock Exchange.

The UK's market regulator is increasingly prepared to hit wrongdoers with adverse publicity, but this strategy is undermining the market's confidence in the watchdog, warns Matthew Allen

IFLR is pleased to announce the short-listed deals and law firms for the magazine's sixth annual European awards

State-owned German bank HSH Nordbank's suit against Barclays Capital, the investment banking arm of Barclays Bank, over losses on structured finance products is due to start on February 21.

The UK's Takeover Panel is proposing to make buyers of equity derivatives disclose their holdings as a way to stop investors exerting hidden influence on mergers and acquisitions.

Clifford Chance in December advised mortgage bank HBOS on the UK's first covered bond programme backed by social housing loans.