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The restructuring at DEWEY & LEBOUEF has not been restricted to the US this month and the European region had its fair share of news with various partner departures occurring in London, Italy and the Middle East.

For many years China has been implementing separate policies for urban and rural land, under which they are governed by different legal systems and governmental authorities and are traded in different markets and have different rights. Use of farm land for non-agricultural purposes is monopolised by the government. Rural land to be used for urban construction needs to be expropriated from farmers first and then sold to land users by the government.

The enactment of the International Trust (Amending) Law of 2011 has completely modernised the international trusts regime in Cyprus. When it was enacted in 1992, the Cyprus International Trusts Law gave Cyprus a state of the art international trusts regime. The world has changed considerably in the intervening 20 years, however, and a number of restrictions and limitations contained in the original law are no longer necessary. New opportunities and investment practices have emerged, which the original law did not take into account. As a result, while the basic structure provided by the International Trusts Law remained sound, it required updating to adapt it to the needs of investors today and in the coming years.

Recently published proposals from the International Organisation of Securities Commissions’ (Iosco) have not eliminated concern from key market participants on regulating money market funds (MMFs)

Konstantinos Gr. Vouterakos Elmina Chadio In 2011, some significant changes to the Athens Exchange (ATHEX) Rulebook have been introduced. These changes will be discussed here together with some recent developments in the Greek Capital Markets.

Lawyers in Beijing expect a wave of foreign investment into China’s asset management industry. But international private equity firms need not apply

In a first of its kind in India, the High Court of Calcutta on March 20 2012 passed an interim injunction restraining Fitch Ratings from publishing a rating downgrade. The downgraded bonds were issued by Srei Infrastructure Finance Limited in 2010 and amounted to a total of Rs2.5 billion ($48.5 million). In respect of these bonds, Srei approached the High Court for an injunction, seeking to prevent publication of the downgrade.

Christian Temmel The Austrian legislator has recently presented a proposal for the amendment of the Austrian Stock Exchange Act, in particular in order to reflect the changes required due to the implementation of Directive 2010/73/EU. However, some changes of the proposed changes are driven exclusively by national requirements and intentions.

Colin Riegels One of the great attractions of the British Virgin Islands as a jurisdiction for structuring finance transactions is the simple yet thorough security registration regime applicable to BVI companies. For the most part, where a lender advances money against security provided by a BVI company, registering the security and thereby protecting its priority and giving public notice of the secured party's rights is a straightforward and effective system. The legal position becomes less clear when the company is acting in its capacity as trustee of a trust.

Francisco Uribe Julián Hurtado In furtherance of the Colombian government's plan to construct one million housing units for low-income families with an investment of approximately COP$6.8 billion (US$3.5 billion), the Government issued Decree 391 of February 16 2012 to regulate the possibility to apply family housing subsidies (FHS) to leasing agreements for housing purchases.