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Spain remains one of the largest European markets for non-performing assets – both for its non-performing loan (NPL) and real estate-owned (REO) portfolios – and is a preferred jurisdiction for international investors. The provisioning requirements of credit institutions for real estate exposures and the creation of the Spanish bad bank, Sareb, were the real catalysts for the change in mindset regarding the transfer of NPLs. All Spanish financial institutions, even the most solvent ones, accumulated large amounts of NPLs – around €300 billion ($347 billion) in total – during the real estate crisis and financial turmoil. All international credit funds and distressed investors landed in Spain several years ago and many of them set up their own asset management platforms. During those years, there was no other jurisdiction in continental Europe that could offer the opportunities and returns available in Spain (until recently, Italy).

The eastern seaboard of Thailand has attracted substantial investment during the past 30 years, including into the petrochemicals, auto assembly and high-tech business sectors. The area is served by three airports and two deep-water ports. Both Thai and foreign companies have obtained investment incentives from the board of investment (BOI) under the Investment Promotion Act (1977).

Similarities and differences exist between the US Model X Forms and Europe’s LMA documentation

The PRC is putting policies in place to foster private investment into targeted technology areas

The Swiss Federal Supreme Court is yet to address the questions surrounding restrictions on the transferability of shares in a company

Paksoy and Cleary Gottlieb consider key developments in the Turkish IPO market'

Preparation and custom solutions are essential to a high yield offering in Luxembourg

M&A clearance is getting a regulatory makeover on a global scale

Legal advisers to CEVA and one of its investors analyse structuring issues affecting the deal