IFLR Search

Stade de France securitized— the first French project bond

Richard Parolai and Michael Elland-Goldsmith of Clifford Chance, Paris, advisers to CSFB

November 01 1998

IPMA reacts to tax changes for Japanese Eurobonds

Yusaku Ono of Hamada & Matsumoto, Tokyo discusses the new tax laws for Japanese issues and the IPMA operating manual which aims to ease market compliance

November 01 1998

United Kingdom

Two recent cases have considered the scope of two types of provision commonly found in loan agreements, bond and other debt instruments.

November 01 1998

European Union

The Commission has proposed a Directive to establish a clear regulatory framework for the distance-selling of financial services within the single market.

November 01 1998

Derivatives structure fails to beat regulator

Goldman Sachs’ strategy for Shell — to obtain funding at the lowest cost through currency swaps — has failed so far before the Canadian courts. Ron Schlumpf of CIBC Wood Gundy, Toronto explains the regulatory risks of derivatives

November 01 1998

The global players revealed

Globalization has finally hit legal services with a series of cross-border mergers and alliances in 1998. Paul Lee analyzes this year’s gathering of statistics on the world’s 50 largest law firms – the IFLR 50 – and identifies the firms spearheading international growth

November 01 1998

Portugal

Under a government decree (finance ministry, April 13 1998) a commission has been created to prepare a report on the status of Portuguese international tax laws. The report will:

November 01 1998

Finland

A government bill on amending the Finnish Act on the Book-Entry Securities System, prepared by the ministry of finance, was given to parliament in September. The bill pays particular attention to the international relations established between securities depositories and to the handling of foreign securities in the Finnish book-entry securities system. In addition, the provisions governing the entering of foreign securities into the Finnish book-entry securities system have been specified in the bill.

November 01 1998

Singapore

The Stock Exchange of Singapore (SES) recently introduced its Best Practices Guide to provide guiding principles on corporate governance for listed issuers.

November 01 1998

Argentina

On August 21 1998, the Buenos Aires Stock Exchange circulated among the companies quoted on its market, the answer that the Comisión Nacional de Valores (the securities and exchange commission, CNV) gave to the question posed by the Mercado de Valores de Buenos Aires as to whether the fall in stock prices, caused by the global stock market crisis could be construed as constituting serious damage to the quoted corporations, thereby allowing them to buy back their own shares.

November 01 1998

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