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Luis Souza Vinicius Sahione On November 4 2015, Brazil's Central Bank published rules for setting up and operating credit unions. These rules are guided by the new legal framework established in August 2015 by the National Monetary Council (CMN), which regulates credit unions.

Ramon G Songco Jenny Jean B Domino The service of a summons is indispensable in judicial proceedings. It both notifies the defendant that a suit has been brought against it and enables the court to acquire jurisdiction over the defendant in person, thus making any court order or ruling in such a case binding upon that defendant. This acquires particular relevance in cases of in personam actions, which are based on the defendant's personal liability. In contrast, in an action in rem, the judgment pertains to the thing that is the subject of the action and the court need not acquire jurisdiction over the defendant in person, only over the thing itself.

John Breslin Ireland has a shared legal tradition with the UK. Even though UK decisions are not binding in Ireland (but have persuasive authority), decisions of superior courts in the UK (such as the Supreme Court) merit close attention. This is undoubtedly true for the recent UK Supreme Court decision on contractual penalties in two joined appeals cases: Cavendish Square Holding v El Makdessi/ParkingEye v Beavis ([2015] UKSC 67) (Cavendish decision).

Julian M Hashim Jeannie Goon Section 133A of the Companies Act 1965 (Companies Act) explicitly prohibits the provision of financial assistance to persons connected with the directors of a company, including an associated company. Paragraph 8.23 of the Bursa Malaysia Main Market Listing Requirements (MMLR) on the other hand provides that, except as otherwise provided under law and subject to certain pre-conditions, a public listed company or its non-listed subsidiaries may provide financial assistance in the form of advance, guarantee, indemnity or to provide collateral for a debt in favour of its associated company.

Stikeman Elliott’s Jeffrey Singer explains why, until recent reforms are approved, M&A parties must play according to the existing and proposed rules

Something for boards to aspire to European boards are finally prioritising the implementation of defence plans against activist investors as volumes look set to break records.

Still with Dentons, the headline in Asia last month was that it would be adding more numbers to its headcount when it agreed merger terms with GADENS in Australia and RODYK & DAVIDSON in Singapore. This follows a number of other mergers the firm has pursued across the globe in the last two to three years.

The view regulators should have adopted throughout their rulemaking

Rima Moawad, Loeb & Loeb Roberta Bassegio, PaulHastings As 2015 draws to a close, many firms are adding bench strength. In one of the highest-profile lateral hires in New York, GREENBERG TRAURIG gained Iskender 'Alex' Catto, who became the new head of the firm's power industry projects and restructuring teams.

Counsel in China have revealed a lack of enforcement of the country's amended Company Law by local officials, as the central government seeks to ease restrictions on foreign investment enterprises (FIEs).