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  • By Shinichi Takahashi, Ryoko Takeda and Ciara Brady of Nishimura & Partners
  • Sponsored by AllBright Law Offices
    Chinese banks must continue to improve risk management practices and their monitoring of borrowers to ensure they do not accumulate any more non-performing loans, say John ZL Huang and Donna Li of AllBright Law Offices
  • Jan Meyers and David Ballegeer of Cleary, Gottlieb, Steen & Hamilton examine the impact of the EU's Conglomerates Directive on capital adequacy requirements for bank and insurance groups
  • On April 17 the government of the British Virgin Islands (BVI) passed the long-awaited 2003 Insolvency Act. It is not clear when the Act will come into force but there is some indication that large parts of the legislation will become effective at the same time as a proposed consolidation of companies' legislation. However, a number of parts may well be brought into force in the very near future.
  • In a recent string of structural legislative reforms, the Georgian Parliament has abolished the Ministry of State Property Management of Georgia (MSPM), the entity previously responsible for the management and privatization of state-owned assets.
  • On May 5 the Indian parliament passed The Electricity Bill, which was originally brought before the assembly in August 2001. The comprehensive Electricity Act aims at replacing three existing Acts governing the power sector: the 1910 Indian Electricity Act; the 1948 Electricity Supply Act; and the 1998 Electricity Regulatory Commissions Act.
  • New Zealand's record of enforcement against alleged insider traders speaks for itself - not a single conviction and only two cases of insider trading ever brought to trial. A third case is currently pending. But will the introduction of criminal penalties improve the effectiveness of NewZealand's insider trading regime?
  • Investors are reluctant to buy European high yield bonds. Rob Mannix reports on how lawyers might just change that
  • Bankers are afraid that new requirements for Hong Kong listings will place all responsibility for due diligence on sponsors. If issuers are not forced to cooperate, disclosure standards will stay low and investors may shun the market. Andrew Crooke reports
  • Allen & Overy and Herbert Smith are preparing for the third issue from the HBOS master trust, Mound Financing, the first since February 2001.