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By Claude Niedner of Arendt & Medernach

By Bonn Schmitt Steichen

By Bonn Schmitt Steichen

By Dirk Leermakers of Loyens Winandy

By Françoise Pfeiffer, Avocat à la Cour - Loyens Winandy

Lawyers in Australia have created a new financing tool that allows developers to raise funds for the construction of multiple properties secured on their value in pre-sales contracts. Geoff Sutherland of Coudert Brothers explains how the structure works

In the last of his three-part series, Steven Kargman completes his advice to creditors faced with the insolvency of emerging market debtors

On July 8 2003 the Brazilian Securities Commission (the Comissão de Valores Mobiliários) issued regulations easing certain restrictions on the ability of listed companies to issue and trade options on shares of the listed company itself.

The government of Uzbekistan has published an action plan renewing a pledge to remove existing restrictions on currency transactions, and setting November as the deadline for their removal. The document is addressed to the attention of the managing director of the International Monetary Fund (IMF), Horst Kohler, and is signed by Uzbek deputy prime minister and minister of the economy, Rustam Azimov, as well as by the chairman of the Central Bank, Fayzullo Mullajanov.

The Austrian insolvency law was amended in June 2003 by the Federal Act on International Insolvency Law (Federal Law Gazette 2003/36). The Regulation (EC) Number 1346/2000 of May 29 2000 on insolvency proceedings (EU Insolvency Regulation) was incorporated into the Austrian insolvency law and was supplemented by further national provisions governing the effects of insolvency proceedings in Austria on assets situated abroad as well as the recognition of foreign insolvency proceedings in Austria. Finally, the Federal Act on International Insolvency Law implemented Directive 2001/17/EC on the reorganization and winding-up of insurance undertakings (Directive 2001/17/EC) and Directive 2001/24/EC on the reorganization and winding up of credit institutions (Directive 2001/24/EC). For this purpose, several special provisions were enacted which apply exclusively to insurance undertakings and credit institutions.