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Karla María León Navarro Several laws have been enacted in Panama to regulate contracts and relationships between employers and employees. These involve specific principles to use in a labour dispute involving a disavantageous position for the workforce. Before a dispute, the judge must take into account one particular legal principle, which has been created to promote an equal relationship. The principle is mainly to protect the worker, who is presented as the legally weaker party compared with the more powerful employer. The principle in dubio pro operario was set out in the Labour Law for several reasons. First, the worker is subject to the employer's disciplinary power, direction and orders. This is a form of economic dependence for the employee, who receives benefits such as a salary, paid holiday, health insurance, sick pay, and retirement contributions.

Ignacio Buil Aldana José Luis Lucena Rebollo Under the Spanish Insolvency Act, clawback is a mechanism enabling an insolvent company's trustee (or the creditors, indirectly) to challenge transactions it entered into within two years of an insolvency declaration, if these transactions are prejudicial to the estate. Even if the parties acted in good faith, proof of prejudice to the estate is sufficient to avoid the transaction and restore the company to the position it would have been in had it not carried out the transaction. In practice, clawback risk contributes to an atmosphere of legal uncertainty for creditors involved in transactions with distressed companies. These transactions typically include refinancing agreements, the granting of fresh money, amendments to the security interest, and even assignments of debt positions.

Krung Thai Bank’s Tier 2 offering has become the first internationally-sold Basel III-compliant offering from Thailand. Here's how

A disjointed regulatory framework has hampered efforts to oversee private investment funds. Here are the lessons that must inform the next round of rulemaking

I seems a little passé to be taking lessons from the financial crisis in 2014, almost six years after Lehman. But as balance sheets recover, it's worth remembering how we got there. And it all hinges on a change in a job title, apparently.

Cleary Gottlieb Steen & Hamilton's Richard Cooper, Adam Brenneman and Jessica McBride analyse the new statute and explain why lawmakers have not overcome their scepticism of in-court reorganisations

Orrick’s Raul Ricozzi and Francesca Isgrò explain what must change before investors and sponsors can gain the benefit of project bond technology

Corporate inversions out of the US continue to gather pace. Arthur Cox's Maura McLaughlin and Conor Hurley explain what a company must consider when choosing a transaction structure

Issuers in unregistered securities offerings deserve the benefit of an auditor’s comfort letter. Cadwalader Wickersham & Taft partner David Neuville explains why counsel should start pressing the point

Investors may have been buoyed by a ruling that creates new liabilities for rating agencies. Herbert Smith Freehills' Harry Edwards explains why litigation in EU courts could have a very different outcome