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Astra restructuring leaves bondholder voting mechanisms under review

A lesson from Astra International’s recent restructuring in Indonesia is that procedures for bondholder voting need to be more accessible in future. By Andrew Crooke

February 01 2003

Financial services: Hong Kong blocks offshore marketing

Hong Kong's new securities and futures laws will enable regulators to restrict offshore institutions selling financial services to onshore investors. Given uncertainty about how the rules will be interpreted and enforced, banks must reconsider how they win business. By Jill Wong of Allen & Overy

February 01 2003

Asian innovation points to more bank capital deals

After several years of restructuring and writing off bad loans, Asian banks want to raise their capital adequacy ratios by issuing hybrid tier one securities. Sanghoon Lee of Linklaters looks at the steps regulators have taken so far and considers the structural challenges that remain

February 01 2003

Rights issues: why US shareholders are not always welcome

Companies considering rights offerings often need cash fast with few ways to get it. Including US investors in a deal can cost time and money, says Ashar Qureshi of Cleary Gottlieb Steen & Hamilton. But excluding them risks upsetting important backers

February 01 2003

What Basel II means for specialized lending

The latest draft of the Basel Capital Accord proposes to treat project finance, asset finance and commodities finance differently from conventional lending. Nicholas Budd of Denton Wilde Sapte explains how

February 01 2003

Isda sets new standard for derivatives

The International Swaps and Derivatives Association (Isda) last month published its much anticipated 2002 Master Agreement, the successor to its highly successful 1992 Master Agreement. Allen & Overy's John Berry explains the key developments

February 01 2003

Turkey

During the final months of 2002, the Turkish Capital Market Board (CMB) promulgated a number of new legislative acts.

February 01 2003

Belgium

The bankruptcies of Sabena, Belgium's ex-flag carrier, Citybird and more recently Delsey Airlines have demonstrated the economically weak position of airlines in the country. This has a general impact on the creditworthiness of the transport sector in Belgium.

February 01 2003

India

The Indian Competition Act, now awaiting presidential assent has borrowed largely from principles well established in other jurisdictions, including US antitrust law and EU competition law.

February 01 2003

Belgium boosts market supervision to restore investor confidence

Belgium's lawmakers are hoping to learn from the mistakes of the US and their European peers and bring legal certainty to the supervision of markets and the behaviour of listed companies.

February 01 2003

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