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  • The Japanese government promulgated laws on April 9 2003 to facilitate industrial revitalization. The laws temporarily introduce and extend a number of special measures for certain types of revitalization plans and introduce a special corporation to assist certain revitalizing companies. There are companies in Japan that have accumulated large debts and retained excess productive capacities. As a result, they have been facing economic difficulties. The new measures are expected to help these companies.
  • Exasperation with market regulators is common. Suing the watchdog is less so. But that is precisely what US hedge fund Elliott Associates is planning to do in Germany, calling into question not only the role of the regulator in takeovers, but the takeover regime itself.
  • Investors gave Uruguay a firm vote of support for its planned debt restructuring last month when 90% of creditors signed up for its groundbreaking bond swap.
  • US senators query Wall Street research settlement
  • On March 1 2003 State Council promulgated its Rules on Sino-Chinese Cooperative School Joint Ventures. These will be effective as of September 1 2003.
  • Shearman & Sterling has ploughed through a 149-page document and negotiated environmental and political compliance issues to secure the first listing of a South African oil company on the New York Stock Exchange (NYSE).
  • The Czech government has abandoned plans to build a highway using what would have been the country's first public private partnership (PPP) infrastructure deal.
  • Telecoms company Paktel has successfully completed the first ever listed future flow securitization in Pakistan.
  • Hong Kong's securities regulator has responded to industry pressure by releasing draft rules to create real estate investment trusts. But there are doubts over whether some proposals are suitable says Effie Vasilopoulos of Johnson Stokes & Master