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State issuers often include carve outs from their waiver of sovereign immunity. But Clifford Chance’s Robert Trefny explains it's not clear whether the law supports such protections

Hong Kong's Bingham McCutchen saga finally came to a close last month with Vincent Sum, the city's last partner standing at the now defunct firm, joining MAYER BROWN JSM. Late last year there had been a six-partner exodus from the US outfit with Akin Gump Strauss Hauer & Feld the beneficiary.

The loosening of US travel and trade restrictions on Cuba opens new opportunities for US financial institutions.

Yesterday the Hong Kong Monetary Authority released its second consultation on its resolution and recovery regime. Here’s what you need to know

No access to historical data is one of the market’s first challenges

Last month the US eased its trade and travel restrictions on Cuba, including easing restrictions on financial institutions. The policy change follows an announcement by President Obama in December to change the 54 year-old policy. Obama can't lift the trade embargo without approval from Congress, but through the Treasury and Departments of Commerce he was able to ease some of the rules.

Results suggest the UK has toppled the US as the bankruptcy and reorganisation hub of choice

The city’s skyline remains intact thanks to a cleverly crafted distressed sale

As explained by Herbert Smith Freehills’ Thomas Bethel, the drop in oil prices has significant consequences for the debt financing of independent upstream exploration and production companies

Rafiq Jaffer Factoring is a financing technique that enables an exporter to collect the purchase price of the goods relating to an export transaction before the due date of payment. Typically, banks in Qatar act as factors and purchase receivables relating to the export transaction. The same technique is also used for financing contractors and sub-contractors, where works have been performed or goods and services have been supplied and payment under the corresponding invoice is payable after a period of time (such as 90 days). This latter technique is referred to as invoice discounting. One key commercial consideration for companies seeking to sell their receivables is for the receivables to be removed from their balance sheet as a debt and to appear as revenue that has been collected. This treatment is possible if the receivables are sold on a without-recourse basis. Auditors usually require a legal opinion to confirm that a true sale of the receivables has been effected.