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The Ministry of Finance has issued two new decisions amending the regulation on listing particulars and offer documents: the Decision on Listing Particulars (26.6.2002/539) and the Decision on Offer Documents (26.6.2002/540). These decisions replace the Ministry of Finance's Decision on Listing Particulars (19.11.1998/197) and Decision on Offer Documents (13.10.1994/905).

By Rob Mannix

Allen & Overy and Clifford Chance are reaping the rewards of one of the largest management buy-outs in Europe this year after senior executives at Irish real-estate company Green Property were successful in taking the company private last month. Green Property managing director Stephen Vernon made the bid through the Rodinheights consortium backed by Merrill Lynch International and Bank of Scotland. Rodinheights' €1 billion ($989 million) bid was announced on July 3 beating those of rival consortia like Deutsche Bank Real Estate Private Equity and Goldman Sachs & Co's Whitehall fund. Rodinheights is offering €9.80 for each of Green Property's shares and shareholders are expected to accept the offer this month.

Europe's statistical body is the latest group to show its suspicion of structured finance, setting rules that treat sovereign securitizations differently from other types of state- guaranteed deals. Yannis Manuelides of Allen & Overy explains why Eurostat is wrong

Six military transport ships are to be built by a private company and manned by civilian sailors in the latest twist in the UK government's use of private finance initiative deals.

"Morgan Stanley is not going to take a big position if the market could move against it, and the market surely would"

With many telecoms companies in trouble, much of the high-yield debt they favoured during the 1990s needs restructuring. By Mark Cannon of Latham & Watkins, London

As part of Turkey's efforts to build a stronger economy and also as part of fulfilling its undertakings to the International Monetary Fund (IMF), parliament passed Law No 4749 on Public Finance and Regulation of Debt Management on March 28 2002.

By Yang Ho Oh, Bae Kim & Lee

By Woong-Soon Song and Robert Young, Shin & Kim