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  • During the final months of 2002, the Turkish Capital Market Board (CMB) promulgated a number of new legislative acts.
  • 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.
  • 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.
  • Who will pay for independent research if not the investment banking arms of Wall Street firms? Steven Lofchie of Davis Polk & Wardwell, New York, looks at the latest US moves to curb analyst conflicts
  • What was to be the first ever New York listing of a Chinese private enterprise has been shelved, in part because of added regulatory burdens imposed by the Sarbanes-Oxley Act.
  • The first global bond offering from one of Korea Electric Power Corporation's (Kepco's) generation subsidiaries has set a useful precedent for the market, showing how to avoid triggering a default on bonds should the issuer be privatized in future.
  • London's merger and acquisition lawyers have begun the new year rushed off their feet after no less than six UK supermarkets prepared to bid for the country's fourth largest food retailer Safeway.
  • The Bond Market Association (TBMA) last month released a proposal draft of a new version of its Cross-Product Master Agreement (CPMA). The Agreement is an industry standard intended to harmonize agreements among agents conducting transactions in the swaps, repo, securities lending and currency markets. The revised draft takes the first version of the CPMA and expands its scope with the aim of reducing risk and instability in those markets.
  • For the first time a UK company is relying on US bankruptcy proceedings to protect it from US creditors while remaining solvent elsewhere.
  • Mitsuhiro Kamiya is a partner of Freshfields Law Office and leads the Japanese corporate practice. His specializations include mergers and acquisitions, joint ventures, private equity and intellectual property, and he covers various sectors including IT, telecommunications, pharmaceuticals and retail business. His clients include large Japanese and international corporations.