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By Maureen McLaughlin and Nigel Russell of Phillips Fox, Hanoi & Ho Chi Minh City

By Velupillai Murugesu and Kandiah Neelakandan of Murugesu & Neelakandan, Colombo

By Timothy Manring and Sri Hartati Rahayu of Hadiputranto Hadinoto & Partners and B&M Consultants, Jakarta

By Jeremy Steel and David Craig of Bell Gully, Wellington

By Paul Hastings Janofsky & Walker

Politicians are pointing to deregulation of the trading in energy derivatives as the failure behind the California energy crisis. Not true, says Philip McBride Johnson of Skadden Arps Slate Meagher & Flom

Freshfields Bruckhaus Deringer's FRESH Capital Securities deal enabled Fortis to raise tax deductible debt that would be treated by the regulators as equity. Donald Guiney explains how the deal worked

In May of this year HMV enlivened the otherwise moribund UK equity market with its flotation. Before the company’s admission a rationalization of its complex multi-tiered capital structure was required. By James Cole of Shearman & Sterling

A key characteristic of supplementary capital contributions (prestações suplementares), which Portuguese law (articles 201º to 213º of the Company Code) forsees being used exclusively for Lda companies, but which subject to certain requirements may also be materially adopted in SA companies, is to enable shareholders to make supplementary capital contributions. This is provided the terms under which such contributions are made are stipulated in the company's by-laws and that supplementary equity capital is non-interest bearing. To demand from the shareholders all or part of the amount (necessarily foreseen in the by-laws) of the supplementary capital contributions, a resolution from the General Meeting is always required.

Commodity swaps in Italy are classified as financial instruments as are equity, currency and interest rate swaps. This is pursuant to article 1, paragraph 2 of Legislative Decree No 58 of the Consolidated Law on Financial Intermediation (February 24 1998). According to the public authority responsible for regulating the Italian securities market (Consob) trading in commodity swaps can be considered an investment service as defined in article 1, paragraph 5 of the same Decree.