Search results for

A recent decision of the Tax Court in Manrell questions the practice in Canada of structuring non-competition payments to obtain tax-free treatment to a vendor.

Law Decree No 63 of April 15 2002 sets new provisions in connection with the financing of public works.

The Helsinki Exchanges are to introduce amendments to the Rules of the Stock Exchange regarding the listing process, conditions for admission to listing and disclosure requirements.

Mexico’s legislators have been busy — protecting minority shareholders, revamping the insolvency regime and overhauling securities laws. Ben Maiden reports

In the UK, Weil Gotshal & Manges closed a second football club securitization for client Bear Stearns with DLA advising Manchester United on a £30 million ($44 million) ticket receivables deal. Weil Gotshal and DLA also worked opposite each other in the same roles for Everton FC's securitization. Weil Gotshal advised Barclays Capital as lead manager on the £357 million securitization of credit card receivables by Capital One Bank. Clifford Chance advised Capital One Bank which is using the master trust structure.

Thomas Williams reports on how Italy’s lawyers are testing the country’s new takeover and securities rules and working on deals to modernize the economy

A rare sale and leaseback hotel securitization is expected to establish a template for future deals in the industry. Morgan Stanley's £531 million ($776 million) sale and leaseback for Thistle Hotels is the first successful commercial mortgage-backed securities deal (CMBS) to come from a single originator rather than using a pool of hoteliers to spread the risk.

European finance ministers last month failed to discuss the controversial prospectus directive, despite approving two other components of the EU's plans for an integrated securities market by 2003. The European Council of Finance Ministers (Ecofin), approved the draft directives on market abuse and financial conglomerates, but left off the agenda the prospectus directive, which aims to put in place a legal framework for companies to issue a single Europe-wide prospectus.

Chadbourne & Parke is advising General Electric Capital on its purchase of a stake in 20 of Cogentrix's 28 power plants for $273 million. The deal is part of Aquila's purchase of privately-held power producer Cogentrix Energy. The transaction includes a purchase price of $415 million for 100% of the common stock of Cogentrix, as well as the assumption of $355 million of debt and approximately $770 million of non-recourse project-level debt.

The government of India has permitted voice over internet protocol commonly known as internet telephony with effect from April 1 2002. The guidelines issued by the government permit only Indian internet service provider licensees to provide internet telephony to their customers. However, internet telephony is, presently limited to calls: