Search results for

Nicholas Frome and Claude Brown of Clifford Chance LLP explain the tension between the credit derivative market and bank-led insolvency workouts

The Islamic bond market took a step forward in August with a Sharia-compliant securities issue backed bymultiple assets, rather than a single leasing agreement as done previously.

India's capital markets got a boost in late July with the country's first convertible bond since 2001, and the first such deal without credit enhancement since 1997.

US law firms Skadden Arps Slate Meagher & Flom and Wilson Sonsini Goodrich & Rosati have advised on an unusual transatlantic takeover that saw French tech company Business Objects acquire Californian software company Crystal Decisions in an $820 million deal using a reverse triangular merger structure.

The signing of the $4.3 billion Nanhai petrochemicals project in China took place on August 1, marking the largest-ever Sino-foreign joint venture project financing.

The Brazilian Securities Commission (Comissão de Valores Mobiliários or CVM) has adopted regulations that give investment firms greater flexibility in establishing the investment policies and corporate governance arrangements of private equity funds. The new rules, adopted on July 16 2003, address the need for an enabling regulatory framework that could accommodate certain typical features of a private equity or mezzanine fund.

In 2002 the Cayman Islands government proposed legislation to regulate investment business carried out in or from the Cayman Islands. The Securities Investment Business Law (2003 Revision) became fully effective on July 29 2003. Any person in the Cayman Islands conducting securities investment business as defined in the new law must now be licensed by the Cayman Islands Monetary Authority (Monetary Authority), unless that person is exempt. Those persons conducting investment business covered by the legislation have a period of six months to apply to the Monetary Authority for a licence, or file for an exemption from licensing.

Allen & Overy has taken a big step towards increasing its share of distressed debt work across Asia by hiring Ian Johnson from Milbank Tweed Hadley & McCloy in Hong Kong.

John Woodhall, head of international securitization at Clifford Chance, is leaving to build a practice for a rival firm.

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