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The month in a minute

In Frankfurt, Simmons & Simmons has hired asset finance and leasing specialist Frank Thomas. Thomas joins as counsel from the firm he founded in 2000, Thomas Wanner + Partners. He has also worked for Allen & Overy. He recently advised a German airline on tax and legal changes affecting its cross-border lease financings, and advised two German transport companies on restructuring their rolling stock.

March 01 2005

English firms fail to break US hold on high yield

The European high-yield market set new records in 2004, but European issuers continue to turn to US law firms for advice. Dan Andrews explains why

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

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

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

Indonesia

A legal action in Indonesia begins when a plaintiff submits a complaint to the chairman of the district court that has jurisdiction over the matter. In the plaintiff's complaint, certain pre-judgment actions can be requested. Pre-judgment remedies, which either can be adjudicated jointly with the substance of the case or separately, are generally in the form of conservatory attachments, ownership attachments, and immediately enforceable provisional judgments (in the form of an injunction or otherwise).

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

Euro parliament rejects clearing directive

An influential European parliament report has rejected proposals for a directive on clearing and settlement because of the risk of disrupting Eurobond and domestic settlement.

March 01 2005

Securitization in 2004: the return of innovation

After two plain vanilla years in 2002 and 2003, securitization is exciting again. Michael Evans explains how new structures and asset classes rejuvenated the market, while tightening spreads made the technique more attractive to originators

March 01 2005

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