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A group of investors is forcing issuers to look again at clauses unchanged for decades. Rob Mannix reports

Rating agencies said Czech securitization would require legislative change. On the Home Credit Finance deal, lawyers convinced them otherwise. By Christopher Lewis, Harm van Berkum and Tomas Otruba

Enforcement actions against banks that lent to Enron suggest others should take care over how they put deals together. By Chris Groobey

Freshfields Bruckhaus Deringer advised the arrangers on a World Cup bond issued by football's governing body, Fifa, to transfer the risk of cancellation to the capital markets.

Issuers and stock exchanges must do more to ensure investors can rely on publicized information about their listed securities. Andrew Crooke reports

The Swedish legislator (riksdagen) issued new rules regarding both right of priority and floating charges on July 17 2003.

Irish legislators' recent overhaul of the country's securitization framework, designed to make Ireland a first-choice location for onshore special purpose vehicles (SPVs), is paying off. Last month the Bank of Ireland closed the first collateralized debt obligation (CDO) using an Irish special purpose vehicle, the €409 million Partholon CDO. The offering, backed by a diversified portfolio of secured and mezzanine leveraged loans, is expected to be the first in a series issued by the bank as it looks to expand its leveraged finance business.

Freshfields Bruckhaus Deringer helped structure a euro-denominated securitization for Korean company Shinhan Card, the first of its type from the country.

The Securities and Exchange Board of India, the body regulating the securities market in India, has framed a new law to prohibit fraudulent and unfair trade practices in the securities market. The highlights of the new law, which has repealed the old regulation, are:

Two milestone bond issues by Cheung Kong (Holdings) and Ford Motor Credit have given Hong Kong's retail market renewed vigour. At the same time the deals have helped develop prospectus disclosure, issue structures and distribution methods within the outdated confines of the Companies Ordinance.