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Portugal

Article 35 of the Portuguese Companies Code, entitled Loss of Half of the (Statutory) Capital, resulted from the implementation of Article 17 of the EU Directive on Coordination of Safeguards Regarding the Protection of Interests of Members and Others, which established that, in case of a serious loss of a company's subscribed statutory capital, a general meeting should be immediately convened to decide what should be done and to consider, among the various solutions, dissolution of the company.

March 01 2005

Sweden

A new Banking and Financing Business Act came into force on July 1 2004 as part of the modernization of the regulation of banking and financing businesses in Sweden.

March 01 2005

Denmark

In early 2005, the first large securitization of trade receivables was completed, with over DKr1 billion ($1.75 billion) of trade receivables sold into an existing platform.

March 01 2005

Disclosure duplication a waste of time and money

Sandeep Parekh argues that quality, not quantity, is the answer to India's disclosure issues

March 01 2005

Insurers race to realize hidden value

Embedded value deals have thrown a funding lifeline to insurers looking to monetize hidden value in life insurance books. Simeon Rudin explains why forthcoming changes to insurance regulation make these transactions so important to the insurance industry

March 01 2005

Innovation fuels Europe's high-yield market

Europe's high-yield market is growing at record pace, partly thanks to structural innovations giving bondholders better protection when things go wrong. Bryant Edwards examines the growth in the market and explains how structural innovation has fuelled this expansion

March 01 2005

The leading debt advisers of 2004

Key:

March 01 2005

Merger control: when to refer to Brussels

A political compromise prevented the creation of a genuine one-stop shop merger filing system in Europe. The new procedure for pre-notification referrals of merger cases is burdensome, but the benefits of the one-stop shop can make it worthwhile. Romina Polley and Robert Schulz report on how companies are using the new system

March 01 2005

Turkey

Housing problems in Turkey have increased as a result of overpopulation, migration from rural areas to cities, and high rental rates combined with unlicensed settlements. Turkey has been struggling with unplanned urbanization and demand for about 300,000 new residences each year. However, housing business in general is expected to expand with the decrease of inflation and interest rates, the support of recent economic developments, housing financing by banks, and the mortgage banking system.

March 01 2005

Corporates turn sleuths to combat scandal

Independent investigations are now a popular tool for corporations in crisis. Tom Reid, John Banes, Luigi De Ghenghi and Sonia Garner, who investigated Royal Dutch Shell Group’s recategorization of its oil reserves, explain why

March 01 2005

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