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Homburger lawyers René Bösch, Benjamin Leisinger and Pierina Janett-Seiler summarise the new Swiss prospectus regime, with a special focus on exchange offers and consent solicitations

Baker McKenzie lawyers explain the challenges faced by regulated insurance companies when seeking leveraged debt financing

Contractual relations between governments and the private sector are usually dictated by a strict set of rules and regulations, that are set in place as an assurance that the public interest is protected and that the public procedures are transparent and subject to the necessary advertising and competitive tendering requirements. In this context, the exceptional public health situation we are living in represents a true game changer, posing challenges to the existing legal frameworks and imposing upon governments the task to quickly adapt the regulatory system to provide answers to the ever evolving pandemic situation.

Since its inception, Panama has positioned itself as a world-leading logistic services provider. This has been in part due to its privileged geographical location and connectivity, as well as to a solid pro-market and dollarised economy. A robust banking system and a responsible territorial fiscal regime have qualified Panama as an investment-grade country since 2010 – and it has since been upgraded by Moody's, Fitch Ratings and Standard & Poor's.

Prager Dreifuss lawyers discuss how the Global Forum Act targets beneficial ownership transparency

Another set of measures came into force in Slovakia on May 12 to protect business operators from the fallout caused by Covid-19. These measures implement interim bankruptcy protections for business operators. These measures are temporary and as it stands, will expire on October 1 2020, with an option for the government to extend them through December 31 2020.

Switzerland is generally an attractive business location from a tax perspective, however not when it comes to interest withholding tax on notes and bonds. The Swiss 35% withholding tax on interest payment is imposed not only on notes and bonds issued by Swiss borrowers, but can also, in certain circumstances, apply to notes and bonds issued by foreign group companies guaranteed by Swiss group companies.

Gönenç Gürkaynak and Öznur İnanılır of ELIG Gürkaynak Attorneys-at-Law unpick the key aspects of Turkey’s merger control regime. A pending Draft Competition Law has now been suspended

In 2015, the National Development and Reform Commission (NDRC) issued the Circular on Promoting the Reform of the Filing and Registration Regime for Issuance of Foreign Debt by Enterprises, under which, both issuance of bonds and borrowing of mid-and-long term commercial loans overseas by PRC enterprises and/or their offshore subsidiaries and branches (collectively, the debtors) are subject to a prior filing and registration with NDRC (foreign debt filing). Over the past five years, the debtors as applicants encountered a lot of issues with regard to the foreign debt filing due to the ambiguity in definitions, scope and standards thereof. As a result, the NDRC issued detailed application guidance including 25 FAQs and respective answers in February 2020, aiming to make these issues clear.