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Taweelah: new project bond structure Shearman & Sterling has advised on a novel project refinancing in Abu Dhabi that builds a securitization takeout into the deal documentation.

English law firms Charles Russell and Berwin Leighton Paisner advised on the AIM listing of online money transfer company NETeller, the largest deal of its type so far in 2004.

Residential mortgage securitization is growing in Korea Securitizers will likely look to tap Korea's potential for residential mortgage-backed deals following the Korea First Bank (KFB) transaction last month.

A legal glitch has hit cheap housing in the UK The UK government is taking steps to correct flawed legislation that it believes led to a court decision allowing entities other than standard companies to enter administration.

The UK market regulator last month fined an individual director of a public company for the first time, signaling a shift towards tougher enforcement standards.

Germany needs to amend its insolvency laws to grow its structured finance market, according to a recent study by Lovells and international consulting firm The Boston Consulting Group.

Starting January 1 of this year, China liberalized three types of financial services on better terms than its World Trade Organization commitments, pursuant to the Mainland/Hong Kong Closer Economic Partnership Arrangement (Cepa).

The Finance Act 2004, enacted on March 25 2004, clarified the Irish value-added tax (VAT) treatment of collateral management services provided to Irish SPVs.

On April 8 2004 the Securities and Exchange Board of India (Sebi) approved certain amendments to the Sebi (Disclosure and Investor Protection) Guidelines 2000 (DIP) as part of its endeavor to ensure greater transparency in the market.

The Indonesian Bank Restructuring Agency (Ibra) was formed by the Indonesian government on January 26 1998 by virtue of Predential Decree 29 of 1998 as the implementation of Law 10 of 1998. After six years of its operation, the President of the Republic of Indonesia has issued a decree stipulating that Ibra will be dissolved if by April 30 2004 it accomplishes all of its pending duties related to: (a) the liquidation of operational dysfunctional banks; (b) the settlement of banks' shareholder obligations; (c) audit; and (d) transactions that existed before February 27 2004. This decree (Presidential Decree 15 of 2004) is effective as of February 27 2004.