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Asian central-bank bond funds will fail to prompt issuance and increase general liquidity, but might inadvertently succeed in promoting reform. Paul Lejot and Douglas Arner say why

Sandor E Schick analyzes the detail in China's proposed bankruptcy laws and what it means for creditors and private businesses in particular

A ruling by the US Court of Appeals for the Second Circuit has shown that the 1999 Isda Credit Derivatives definitions are not as unambiguous as intended. James Warnot and Justin Williamson explain

German banks are looking with increasing urgency at ways to rid themselves of their portfolios of non-performing loans, but legal hurdles remain, say Oliver Kessler and Melanie Schlage

Xavier de Kergommeaux and Colin Mercer describe how French regulators are on the verge of expanding and clarifying the role of the country's securitization vehicle

A new Companies Act is proposed to replace the existing Companies Act of 1956. The new legislation aims to simplify and be more responsive to current situations, but some aspects of the concept paper are unlikely to be conducive to corporate and commercial expectations.

The first board of directors of the Capital Markets Authority (CMA), and its first chairman, the recent deputy governor of the Saudi Arabian Monetary Agency, Jummaz Al Suhaimi, have been appointed by Royal Decree A/114, dated 1 July 2004.

Good faith is the most essential part of a contract among parties to an agreement. During the financial crisis in Indonesia, creditors have been facing difficulties when trying to recoup their investment, especially from debtors who lack good faith. The standard operating procedure of those debtors involves hiding their assets beyond the creditors' reach by transferring them out to obscure related parties. This is particularly relevant for unsecured creditors that do not have specific assets encumbered as collateral for the underlying loans. Unsecured creditors need to find the debtors' assets before they are able to attach such assets to satisfy their claims. It then comes naturally for bad faith debtors to try to transfer their assets out and leave the companies empty should the creditors obtain a judgment to have their monies back.

The Hong Kong Landlord and Tenancy (Consolidation) Amendment Ordinance 2003 (the Ordinance) was passed on June 30 2004 and came into effect on July 9 2004. It aims to remove security-of-tenure provisions for residential tenancies and to remove the minimum notice period requirement in relation to non-residential tenancies.

On July 6 2004, the State Administration of Radio, Film and Television promulgated the Administrative Measures on Chinese-Foreign Cooperation Film Production. The regulations came into force on August 10 2004. The original regulations are now superseded. They had designated the China Cooperative Movie Production Corporation as the authority responsible for examining and approving applications for licences for Sino-foreign film production. Under the new regulations, the China Cooperative Movie Production Corporation will play no role in examining and approving applications for licences. Applications for licences must now be submitted directly to the State Administration of Radio, Film and Television, which must determine the application within 20 days. If the application is rejected, the authority must provide reasons for its decision.