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As takeover activity grows in Australia, bidders are finding new techniques to ensure success both on hostile and friendly deals, explains Rodd Levy

Foreign vendors that sell to China's increasingly acquisitive companies are exposed to China’s less than transparent regulatory regime, say Jean-Marc Deschandol and Tom Luckock

With Korea soon to pass new bankruptcy legislation, Mark A Walker, James L Bromley and Sang Jin Han outline what the country’s lawmakers should learn from past experience

As the documentation of syndicated loans in the US increasingly resembles that of bonds, Gregory Woods warns that lenders could stray accidentally under onerous securities laws

A new currency law in Turkey aims to resolve the difficulties caused by hyperinflation in the country over the past two decades. The hyperinflation that started in the 1970s meant that during the 1980s new banknotes in larger denominations came into circulation to meet the cash demand in the economy. For the past few years the highest denominated banknote has been TL20 million, which is also the highest denominated banknote in the world. Use of figures with multiple zeros has created many technical and operational problems in particular for banks and the treasury. The creation of official financial records has also proved troublesome.

Margaret Tahyar gives an insight into SEC decision making and tells European issuers that facts are the key to influencing the US regulator

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.

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.

Clifford Chance has advised DEPFA Bank on the UK's first private finance initiative (PFI) loan securitization. The £392 million ($758 million) synthetic, partially funded collaterized loan obligation (CLO) securitized a pool of UK PFI loans, which are used to fund public infrastructure assets, in a publicly rated debt transaction.

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