Search results for

Establishing private equity funds (PEFs) in Korea is now possible under the amended Indirect Investment Asset Management Business Act (IIAMBA), which took effect as of December 6 2004.

On December 4 2004 the Saudi Arabian Capital Markets Authority released the first four Implementing Regulations (Official Gazette (Umm Al-Qura) edition No 4021) to the Capital Markets Regulations. The publication of these Implementing Regulations, which are retroactive to February 24 2004, will significantly affect both issuers and investors in Saudi Arabia's capital markets. This first set of Implementing Regulations addresses three main categories: market ethics and conduct; securities offerings; and rules of registration and listing.

On October 29 2004 the Swedish Supreme Court rendered a judgment that should be of interest for many directors of Swedish limited liability companies. The case concerned a Swedish limited liability company that had omitted to close the accounts on time for the financial years 2000 and 2001 with annual reports. The Supreme Court held (just like the District Court but in contrast to the majority of the judges of the Court of Appeal) that these omissions constituted accounting offences according to chapter 11, section 5 of the Swedish Penal Code.

On October 6 2004 the Danish Government introduced a bill to amend the Danish Securities Trading Act. The purpose of these proposed changes is to a wide extent to implement the EU directives on market abuse and prospectuses and to adjust the Danish legislative framework in accordance with the Commission's Regulation on buyback programmes.

The Kingdom of Jordan entered the bond markets for the first time in December, with a $145 million bond to pay for a new armed forces headquarters in Amman.

Bondholders continued to challenge the restructuring of UK holiday company MyTravel in December, despite a High Court ruling denying them the opportunity to block the company's scheme of arrangement. At the time of going to press, bondholders were awaiting the outcome of a second High Court hearing on the scheme.

Lawyers and businesspeople have welcomed the decision by the UK government to soften the standard of care for companies when they prepare newly introduced operating reviews together with their annual reports.

NYSE: busy holiday season The US securities markets traditionally have a short burst of activity sandwiched between Thanksgiving in late November and Christmas the following month.

After an 18-month wait, the first deal has closed under the German true-sale initiative (TSI) platform that was designed to facilitate Germany's nascent true-sale securitization market.

Milbank Tweed Hadley & McCloy represented Mexican issuer Gruma in the first perpetual bond deal by a corporate issuer in any market.