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Six firms line up for global billion-dollar food deal

A global contingent of lawyers spanning more than 30 jurisdictions has advised food companies Associated British Foods (ABF) and Burns Philp in what is one of the largest ever transactions in the bakery ingredients industry.

August 31 2004

Allen & Overy structures first European Islamic bond

In a first for the capital markets, Allen & Overy has helped structure an Islamic law-compliant bond for a European issuer.

August 31 2004

Timing rules narrow window for French IPOs

The revival of the French equity markets is putting the country's untested initial public offering rules on trial. Andrew Bernstein and Valérie Lemaitre make the initial assessment

August 31 2004

South Korea

The South Korean government has eased regulations to allow foreign financial institutions to establish subsidiary banks in Korea. The Financial Supervisory Commission (FSC) and the Financial Supervisory Service (FSS) amended the Guidelines for Authorization of Banking Business to allow for these changes.

August 31 2004

Italy

Legislative Decree 170 of May 21 2004 (Decree 170) has implemented the Directive 2002/47/CE of June 6 2002 on financial collateral arrangements (the Directive).

August 31 2004

The month in a minute

The UK market regulator is investigating Citigroup's unusual trading behaviour in the government Eurobond market. In August Citigroup sold over €10 billion ($12 billion) of government bonds in a matter of minutes, causing the market to fall and allowing Citigroup to buy back about €4 billion of the same bonds at a lower price later the same day. The trades did not breach any specific securities laws but the regulator is to decide whether Citigroup acted "with regard to the consequences of its actions".

August 31 2004

Japan

Japan's revised bankruptcy law was enacted in May 2004 and is expected to come into effect in January 2005. This follows the introduction of the Civil Rehabilitation Law in April 2000 and the revised Corporate Reorganization Law in April 2003. The purpose of these laws is to rehabilitate debtors, but the aim of the new bankruptcy law is to provide modernized procedures for the efficient liquidation of debtors and the fair distribution of debtors' assets.

August 31 2004

Austria

A judgment of the Higher Regional Court (Oberlandesgericht) Frankfurt/Main of May 25 2004 has caused unrest in the German market regarding securitization or sales of non-performing loans.

August 31 2004

Protectionists threaten Japanese economy

If Japan doesn't push ahead with the necessary tax reforms to tempt foreign investors to buy stakes in domestic companies, productivity and economic growth will continue to lag. But, as Andrew Crooke reports, change won't come without a fight

August 31 2004

Is the UK wrong about trustee liability?

The UK Law Commission's proposals on preventing trustees from limiting their liability should not apply to capital markets trustees. Jane Borrows and Eoin Gillen explain why

August 31 2004

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