Search results for

The UK Takeover Panel has reversed the stance it took in WPP/Tempus in 2001, which reduced the utility of material adverse change clauses. Tunde Ogowewo explains how

The Indonesian central bank, Bank Indonesia, has issued one regulation and three circular letters to enhance the legal certainty of its administrative duties, particularly those related to Bank Indonesia's scripless securities settlement system (BI-SSSS). This is used in the administration of Bank Indonesia certificates (sertifikat Bank Indonesia or SBI), securities issued in rupiahs by Bank Indonesia as short-term acknowledgment of indebtedness, and sovereign debts (surat utang negara or SUN) consist of treasury bills and government bonds (securities issued by the government of Indonesia as long-term debt instruments in rupiahs or other foreign currency denominations). All of the issuances are dated February 16 2004. They are:

Internet search engine provider Google could open the door to new types of initial public offering (IPO) if its flotation, which filed last month, is a success later this year.

Paul Weiffenbach assesses proposed reforms affecting asset-backed deals

The Federal Act on International Insolvency Law (Federal Law Gazette 2003/36) implemented Directive 2001/24/EC on the reorganization and winding up of credit institutions (Directive 2001/24/EC). Several provisions were inserted in the Austrian Bankruptcy Code (Konkursordnung-KO) and the Austrian Banking Act (Bankwesengesetz-BWG).

Downgraded: Sainsbury's sold US subsidiary without needing consent Investors should be wary when buying bonds in companies vulnerable to leveraged buyouts because of the weakness of bondholders' covenant protection, according to Fitch Ratings.

Relinquishing power: the UK has bowed to EU rulings The UK government will redeem its so-called golden shares in Britain's five biggest energy companies in the wake of a series of rulings by the European Court of Justice that the special share arrangements violate EU law.

Legal harmonization is welcome. But practical systems for getting information to investors could do more to encourage a European wide capital market, says Brian McCall

New rules exempting non-US banks from insider lending restrictions came into force last month.

Questions remain over the rights of creditors in second lien debt transactions. Neil Cummings and Kirk Davenport explain