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The effectiveness of material adverse change clauses are being whittled away in Australian public M&A, a recent report has revealed

The new chief of the International Swaps and Derivatives Association has said that regulators need to focus on harmonising international rules

Diversity requirements introduced by the Hong Kong Stock Exchange one year ago have had little effect, a new study has revealed

Iñigo de Luisa We previously wrote about Royal Decree-law 4/2014 of March 7 (RDL 4/2014), which introduced important changes at preinsolvency stages and improved the restructuring tools and schemes in Spain. This piece of law is already effective, but is at the Parliament for final enactment and is subject to additional minor amendments. Now, Royal Decree-law 11/2014 of September 5 (RDL 11/2014), amends once again our insolvency regime both at composition and liquidation phases in order to foster financial restructuring of viable companies. RDL 11/2014, among other key issues, extends to composition agreements some of the key measures introduced by RDL 4/2014 for restructuring schemes at preinsolvency stages. As a result, both general and special privileged creditors (including public entities) could now be specifically affected by composition plans, even in the portion covered by the value of the collateral.

Across Europe, many public-private partnerships are struggling. But a small majority of lawyers believe it’s premature to overhaul the funding model

Stephen Crosswell, Baker & McKenzie Anna-Marie Slot, Ashurst In Hong Kong we have seen early signs of horse trading as KIRKLAND & ELLIS recruited leading Asia restructuring lawyer Neil McDonald and rising star Damien Coles from Hogan Lovells. In return, the UK firm poached corporate partner Steven Tran from Kirkland. As competition law continues to develop in Hong Kong and China, BAKER & MCKENZIE bolstered its offering in the city-state by hiring Clifford Chance partner Stephen Crosswell.

Adil Hussain, Clyde & Co In Saudi Arabia, LATHAM & WATKINS hired corporate partner Sami Al-Louzi from Vinson & Elkins, which has been scaling back its Middle East operation for more than a year. He will work across the firm's Riyadh and Dubai offices, focussing on cross border M&A and equity capital markets deals in the region. CLYDE & CO hired Herbert Smith Freehills partner Adil Hussain, who specialises in advising banks on structuring and developing shariah-compliant products, in Abu Dhabi. Hussain's departure leaves his old firm with only one partner in the country's capital.

The Hong Kong government's successful sukuk signals that more Asian jurisdictions must take Islamic finance seriously. The $1 billion sukuk al-ijarah, issued under Regulation S and Rule 144A, achieved the tightest-ever pricing for a benchmark-sized sovereign issuance from Asia ex-Japan; investors in the Middle East took 36% of that deal.

Do any more US politicians want to blame companies for the country’s inversion issues? It is rare that a piece of corporate accounting and tax planning should be the topic of wide public discourse. But the number of US tax inversion deals launched over the past year has sparked both the public's and politicians' interest. This has been further heightened by the involvement of several household names in these types of deals. Pfizer, Burger King, and Walgreens (which eventually decided against a tax inversion despite a merger with British company Alliance Boots).

The Stock Exchange of Hong Kong's highly-anticipated concept paper on weighted voting rights furthers the market's debate on non-traditional shareholding structures.