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  • Article 113 of Law No 267 of August 18 2000, regulating modalities for the management of local public services, has been recently amended by Article 35 of Law No 448 of December 28 2001 (the 2002 Financial Law).
  • France must clarify whether its usury laws apply to corporate bonds if its high-yield market is to develop, say Eric Cafritz and Delphine Caramalli of Fried, Frank, Harris, Shriver & Jacobson in Paris
  • The Colombo Stock Exchange (CSE) has introduced regulations permitting stock borrowing and lending (SBL). The Central Depositary System (CDS) facilitates SBL transactions and lenders and borrowers can engage in SBL only through an "eligible participant", being a member of the CSE or custodian bank, which meets with the criteria stipulated by the CDS.
  • A recent precedent-setting court ruling that upheld the rights of minority shareholders may mark the first stir of change for the nation's companies, especially conglomerates, where board decisions were often made without regard for shareholders.
  • It has taken more than 30 years, but the EU has at last agreed on a legal format for the European Company, a vehicle it hopes will support the EU project by freeing corporates from national differences in legislation and boosting European economic activity. Jean-Louis Joris of Cleary, Gottlieb, Steen & Hamilton in Brussels explains what the European Company really is, how to set one up and asks whether, ultimately, it will be a success
  • Elizabeth Uwaifo, Sidley Austin Brown & Wood Sidley Austin Brown & Wood and Linklaters have closed a euro 2 billion ($1.8 billion) synthetic collaterallized debt obligation (CDO) for KBC bank. The deal was the second CDO to be issued from the Irish special purpose vehicle Cygnus Finance.
  • Enron headquarters,
  • As the Enron story unfolds, lawyers say it raises age-old issues regarding the independence of auditors and the need to ensure adequate objectivity.
  • To facilitate the movement of funds from offshore venture capital (VC) funds into China, the Ministry of Foreign Trade and Economic Cooperation, the Ministry of Science and Technology and the State Administration of Industry and Commerce jointly promulgated the Provisional Regulations on Establishing Foreign-Invested Venture Capital Investment Enterprises, which came into effect September 1 2001.
  • In the April 2001 issue of IFLR we reported that political agreement was reached by the EU's Council of Ministers to establish the European Company Statute and the related directive on worker participation in European companies. We can now report that, on October 8 2001, the EU Employment and Social Policy Council adopted the regulation establishing the European Company Statute and the accompanying directive. The directive and regulation will come into force on October 8 2004.