IFLR Search

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

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

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

Cutting edge - close up: How Grapes exported Chapter 11 prepackaged restructuring

Douglas Bartner, Michael Bosco, James Garrity and Stacey Spevak of Shearman & Sterling explain how Grapes became the first foreign company with minimal assets in the US to achieve restructuring under Chapter 11

February 01 2003

Hungary

In the past, Hungarian offshore companies (HOCs) registered in, and performing activities outside, Hungary paid a beneficial 3% corporate profits tax. Companies that requested HOC status before December 31 2002 may benefit from the 3% tax rate and the related HOC regulations during a transitional or grandfathering period, which expires on December 31 2005. However, no company can request HOC status after January 1 2003.

February 01 2003

How Japanese companies can benefit from Irish investment vehicles

Ireland's regulatory environment is attractive for both fund management companies and originators of asset-backed deals from Asia. Irish investment vehicles offer advantages in terms of tax treatment, flexibility, transparency and robustness, say Mark Thorne and Conor Houlihan of Dillon Eustace

January 28 2003

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