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By Hans Georg Wille of Andersen Legal, Oslo

By B Kunth and W Gruber of Bruckhaus Westrick Heller Löber, Düsseldorf

By Adam Wenner and Kathleen C Lake of Vinson & Elkins LLP, Washington DC and Houston

By Jan Waselius & Mikko Eerola of Waselius & Wist, Helsinki

By Chris Fonteijn and Reijnoud Homveld of Nauta Dutilh, Rotterdam

The European Bank for Reconstruction and Development (EBRD) has signaled that a degree of confidence in Russian industry may be returning by signing its largest loan to a Russian company since 1993. If the signals are correct, law firms will want to be well placed to take advantage of the returning work. For this transaction, White & Case and Allen & Overy have secured the mandates.

Clyde & Co appoints new partners

Joe Bannister of Lovells Hong Kong highlights some interesting parallels in the insolvency reforms intended for Hong Kong and the UK

Japan’s lawyers have never had it so good. The market for their services is booming as overseas investors pump money into the country and Japanese companies look to the international markets for funds. But there aren’t enough lawyers to do the job. And foreign practitioners say they can’t offer the service their clients want. Things need to change. Ralph Cunningham reports from Tokyo

Tax modifications in the pipeline Colombia's minister of finance has presented a draft bill to congress "by which new taxes are established, the Tax Code is amended and other regulations are issued". The bill proposes an important new tax reform and includes, among other things: (i) the extension of the 2/1000 tax on financial transactions; (ii) a progressive reduction of the corporate income tax rate down to 32%, as well as a reduction of the income tax rate applicable to individuals; (iii) some restrictions on the income tax deductibility of gifts; (iv) a modification of the withholding tax rate on consulting services, commissions, independent services and services in general; (v) anti-avoidance measures; (vi) measures relating to improving the collection of taxes; and (vii) the introduction of a new substitutive tax (impuesto sustitutivo) that would apply to certain small taxpayers developing commercial, industrial or services activities.