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Trust concepts in China took another step forward under the Administration of Trust and Investment Corporations (TICs) Procedures promulgated by People's Bank of China (PBOC) on January 10 2001.

Article 17 of the Decree on the Protection of the Value of the Turkish Currency was amended on July 26 2001 to facilitate the procurement of loans from foreign financial agencies. Before the amendment, foreign loans with an average maturity of 365 days had to register with the External Debt Log maintained at the Turkish Treasury within 30 days following the execution of the loan agreement. Previously, the borrower applied in person to the Treasury with a petition, accompanied by a copy of the loan agreement, to register their foreign loan.

The most recent developments at SAir Group and Switzerland's flag carrier SAirLines (Swissair) merit a short outline of the formal proceedings regarding moratorium and composition agreement under Swiss Debt Collection and Insolvency Law. The following three steps are to be distinguished:

On October 3 2001 Standard & Poor's raised the Republic of Ireland's long term sovereign credit rating from AA+ to AAA. Ireland is now one of only six EU countries to have a AAA rating, the others being Austria, France, Germany, Luxembourg and The Netherlands. Although, in comparison with other EU countries, Ireland has a small economy, the diversity and stability of the economy is reflected in this new rating.

Davis Polk puts JP Morgan loan in the picture

Last month commissioner Laura Unger announced plans to step down from the SEC. Her departure will leave a massive gap in an already under-staffed Commission, and not just in terms of numbers. Tom Nicholson meets the woman who led the SEC for most of a crucial year in its history, and discusses how she has fought Regulation FD, tried to narrow the digital divide and championed human rights through financial regulation

Coudert Brothers LLP 7 Ul Gasheka

Russia has been riding a wave of economic progress as a new government, rising oil prices and legal reforms lead the way. But, as Thomas Williams reports from Moscow, there’s plenty to be done before everyone feels comfortable

The legal framework for energy in Mexico By Miguel Angel Quintana of Thacher Proffitt & Wood, SC

The establishment of Mexican bank subsidiaries and representative offices, and the principal Mexican legal issues raised by cross-border bank financing to Mexican borrowers James E Ritch Grande Ampudia and Mauricio Gárate Meza of Ritch, Heather y Mueller, SC