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ANZ Banking Group's purchase of The National Bank of New Zealand was the largest trans-Tasman transaction yet, the largest New Zealand M&A deal and involved the largest Australian rights issue ever, at A$3.6 billion ($2.68 billion).

The first mortgage-backed bond issue under the new securitization law in Greece has put in place a template for future deals.

France's national savings bank fund has issued the first tier one issue under the country's new financial securities law.

Two prominent US law firms may have committed legal malpractice in their representation of Enron on dozens of off-balance-sheet financing transactions, according to a report released by a court-appointed examiner.

China must ensure turf wars between government ministries don't lead to different treatment of foreign and domestic companies, says Zhao Yong of Squire Sanders & Dempsey

The Swiss legislature recently completed work on a new statute governing mergers, demergers, conversions of companies, and the transfer of assets with or without related liabilities. Most of these topics were not addressed in the Swiss Code of Obligations and thus many of the existing rules relating to mergers and demergers are based on case law or on legal principles developed over time by practitioners. Most of the code law provisions that did exist will now be replaced in their entirety.

Italian entities acting as borrowers or issuers of financial instruments in international financial transactions with foreign EU counterparties often accept to submit any controversy that may arise to the jurisdiction of a foreign court located in an EU member state.

Over recent years the Indonesian Tax Office has sought to increase state revenue from the collection of taxes. The government has set up a specialized Tax Court under Law No 14 Year 2003 to replace the existing Tax Dispute Settlement Body. The Court operates under the auspices of the Supreme Court, Ministry of Justice and Human Right (MoJ) and, to a certain extent, the Ministry of Finance (MoF) for examining an appeal over tax authority stipulation. Any decision rendered by the judge is considered as binding on both parties and the remedy would possibly be through a civil review. A tax bearer may use qualified and authorized tax attorneys to provide advice or representation. Further, decree of MoF No 450 Year 2003 has ruled that only Indonesian citizens licensed by the chairman of the Tax Court and empowered with specific power of attorney may act as tax attorneys. The Court also supervises the conduct of tax attorneys during hearings. Previously, tax disputes were settled by the Tax Dispute Settlement Body, which was created by Law No 17 Year 1997.

For more than 50 years successive Irish governments have used targeted fiscal measures to attract and retain international investment in Ireland. It is clear from Budget 2004, which was approved by the Irish parliament on December 3 2003, that this strategy continues to be the cornerstone of Irish government policy in relation to foreign direct investment.

Denmark adopted a new Act on Investment Associations, Special-Purpose Associations and other collective investment schemes (CIS) on December 4 2003. The Act implements part of the UCITS Directive (Council Directive 85/611/EEC as amended) and introduces a couple of new features. The Act will in all material respects come into force on January 1 2004.