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The long-expected decree of the Ministry for Economy and Finance, to be issued in accordance with the provisions of Article 41 of Law 448 of December 28 2001, has been published.

The trust has always been regarded as one of the best succession vehicles, but using a trust to cater for the succession of shares in companies has historically been impeded by a rule of English trust law that is designed to help preserve the value of trust investments. This rule, which is known as the prudent-man-of-business rule, has traditionally made the trust an unattractive vehicle to hold assets that settlors intend trustees to retain. Another aspect of the rule effectively requires trustees to monitor and intervene in the affairs of underlying companies. This also creates difficulties both from the settlor's standpoint and from that of the trustees.

Baku-Tbilisi-Ceyhan: a deal three years in the making The financing of the Baku-Tbilisi-Ceyhan pipeline, one of the largest pipeline projects in history, has closed after years of controversy.

Korea is overhauling its accounting rules by amending the Securities Exchange Act to conform with new international norms as a result of the Enron scandal and the Sarbanes-Oxley Act.

Administrations, financial problems at Leeds United and changes in regulation have brought UK football securitization to a standstill. By Stuart Brinkworth

Skadden Arps Slate Meagher & Flom has advised the first French company to launch an initial public offering (IPO) for 18 months and the first French technology company to come to market in three years.

European lawmakers want to establish a registration scheme for rating agencies such as Moody's and Standard & Poor's.

Sullivan & Cromwell is eyeing an even bigger chunk of China mandates after recruiting Calvin Lai from Goldman Sachs' special execution group in Asia.

A regional treaty on cross-border insolvency would promote foreign investment, say Richard Fisher and Michael Sloan

The Takeover Board is a federal commission established under the Swiss Federal Act on Stock Exchange and Securities Trading (SESTA). It has jurisdiction to issue general rules and ensure compliance of public offers with the provisions of SESTA. In particular, potential offerors and their legal advisors should be aware of the following recommendations issued by the Takeover Board.