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  • 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.
  • DLA gets eastern European boost in Weiss-Tessbach merger
  • 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.
  • Under Swiss law, the distribution of an investment fund requires authorization as soon as the fund is publicly offered to investors in Switzerland through public solicitation. The term public solicitation has been the subject of wide interpretation. Consequently, the Federal Banking Commission (FBC) has stated in a circular in effect since July 1 2003 that solicitation is considered to be public if addressed to more than 20 individuals within a business year.
  • The American Bar Association (ABA) has voted to give lawyers more freedom to hand over privileged information if their corporate clients break the law.
  • International banks can no longer be certain of the effectiveness of taking a security interest in Korean assets by way of a pledge from Korean companies. Joshua Margolis and Chul Hyun Kim of Hwang Mok Park consider what can be done to avoid a chilling effect on derivatives and secured lending transactions
  • Foreign insurers are increasingly making strategic investments in China. W Seung Chong of Freshfields Bruckhaus Deringer and Satoshi Naganuma of Millea Asia discuss the key issues to consider
  • David Skeel, professor of law at the University of Pennsylvania, argues that class action remains a vital, if flawed, way of dealing with sovereign debt distress
  • The Turkish Capital Markets Board (CMB) recently issued several key new communiqués alongside new additions to the Turkish securities regulations, such as the shelf registration system. Communiqué Serial IV No 29 on the Principles of Cumulative Voting in the General Assemblies of Corporations Subject to the Capital Markets Law was issued in February 2003.
  • Exit consents have been hailed as an important tool in the battle to avoid Argentina-style sovereign debt defaults. But Stephen Choi and Mitu Gulati explain that lawyers must take a close look at the bond terms if they want to ensure their restructuring plans will work in practice