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The Irish Supreme Court recently published its decision in the case of In the matter of Bula Limited (in Receivership) Supreme Court, 11 April 2003 (unreported). The case arose from the sale by a receiver of the assets of Bula Mines and confirms the obligations to be discharged by a receiver upon the sale of property.

After much review and discussion, on June 6 2003, the parliament of Georgia adopted the Law on the Prevention of the Legalization of Illegal Revenues. The law is expected to assist the Georgian government in fighting two of the country's most problematic economic issues - money laundering and tax evasion. The legislation creates mechanisms to prevent the legalization of illegal revenues and the financing of terrorism. It will apply equally to both residents and non-residents of Georgia, as well as to their representatives, representative offices and branches.

In the absence of Lenders' Liability law, the Reserve Bank, with a view to counter-balance lenders' power under the Securitization Act, has recently finalized its Guidelines on Fair Practices Code for Lenders. The Code aims to usher in greater transparency in financial dealings, the hallmark of most developed financial markets, by requiring financial and banking institutions to follow a number of guidelines.

With a series of securitizations coming to market, including Switzerland's first commercial mortgage-backed deal and its largest public securitization, some observers are again optimistic about the erratic Swiss structured finance market. Megan Murphy explores whether these transactions are part of a new wave of deal-making, or just another blip

Lone Star's purchase of a controlling stake in Korea Exchange Bank (KEB) for $1.2 billion is the largest-ever private equity deal in Asia, excluding Japan.

Spanish firm Uría & Menéndez is advising energy company AES on the €665 million ($766 million) financing for the construction of the largest independent power project developed in Spain so far.

DLA gets eastern European boost in Weiss-Tessbach merger

Shearman & Sterling and Slaughter and May are advising on a telecoms deal valued at €7.1 billion ($7.6 billion) that should see France Telecom take full control of mobile phone operator Orange.

Japan's largest-ever leveraged buyout, the $2.2 billion purchase by US private equity fund Ripplewood Group of Japan Telecom's fixed-line business from the UK's Vodafone Group, is a pioneering transaction - for cultural reasons as much as any others.

The North American Securities Administrators Association (Nasaa) has chosen a new president at a time when US states are fighting to define their role in securities regulation.