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  • 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
  • A new Greek law has expanded securitization into the private sector. George Pergamalis of Freshfields Bruckhaus Deringer explains what market participants need to consider when doing their deals
  • 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.
  • A new law in Spain establishes a regime that goes beyond pure tax incentives, and could represent Spain's entry into the race to be the jurisdiction with most favourable taxation for debt issues.
  • In recognition of the prevalent sovereign immunity doctrine, Act IV of the Hungarian Civil Code (1959) specifically allowed the Hungarian state to enter into private law contractual obligations (for example, loans, state guarantee and construction mandates). However, for several years the scope and procedure governing the state's liability for the performance of these contracts have not been clarified further by publicly-accessible regulations.
  • One of the few remaining items on the agenda of harmonization of the Czech legal system with the acquis communitaire is a package of legislation regulating capital markets and collective investment. The core of this package consists of the Act on Undertaking on Capital Markets and the Act on Collective Investment, which are both prepared in draft form and are expected to be submitted formally to parliament soon, with a view to being adopted on or before May 1 2004 (the anticipated date of EU accession).
  • New York firm Winston & Strawn is expanding its financial services regulation focus with the hire of Bank One's general counsel.
  • AllBright Law Offices Jin Mao Building, 25th Floor
  • Difficult market conditions have left many Latin American companies unable to refinance their maturing debt. In the first of a two-part series, Peter Darrow of Mayer Brown Rowe & Maw looks at how borrowers and lenders can deal with the regional debt squeeze