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Isil Ökten Mustafa Yigit Örnek The new Regulation on Undertaking of Liabilities by the Turkish Treasury (Regulation) entered into force on April 19 2014. It was based on article 8 (A) of the Law on the Regulation of Public Financing and Debt Management 4749 (Law 4749). This new Regulation provides that build-operate-transfer (BOT) projects, education projects through the build-lease-transfer model and public private partnership (PPP) projects in the health sector can benefit from the debt assumption undertaking. The scope of the debt assumption undertaking includes the partial or whole repayment of financial obligations of the project companies, including those arising from the principal loan provided for relevant investment and services and related derivative products. The debt assumption undertaking consists of: (i) the whole amount of financing costs; and (ii) (a) if the project agreement is terminated due to project company's fault, 85% and (b) if the project agreement is terminated due to reasons not attributable to the project company, 100% of the loan amount. The following conditions need to be met for the granting of a debt assumption undertaking:

Regulatory burdens on Chinese outbound acquirers have been eased. It paves the way for a more balanced cross-border investment dynamic

The region’s governments are easing regulations to improve consumer and SMEs’ access to credit. For foreign investors, the changes create access to an untapped market

The insolvency law celebrated its tenth birthday this year. Andi Kadir of Hadiputranto Hadinoto & Partners analyses how the process has changed since it was passed?

Cleary Gottlieb's Andrew Shutter and Sui-Jim Ho explain how lawyers and lawmakers are finding new ways to make debt instruments subject to majority rule

Recent judicial decisions have revived concerns around the enforceability of English contracts in Indonesia. Ashurst's Joel Hogarth explains how to protect yourself

BBVA's Agustin Martin Calmarza and Aaron Baker explain why ABS is key to Europe’s move towards a more market-focussed system of funding

Widespread defaults by Indian borrowers have prompted banks to find new ways to recover debt. Verus's Krishnayan Sen explains how they are invoking the RBI Master Circular

A failed challenge to the CFTC’s extraterritorial reach has caused disappointment. But Linklaters' Caird Forbes-Cockell, Noah Melnick and Edward Ivey explain why the regulator’s new chief could be the silver lining

Following the release of its dual-class concept paper, Shearman & Sterling's Jayesh Wadhwani asks whether the exchange must allow these structures to remain competitive