Banking and Finance Law Articles

The article provide seven top strategies to help Board of Directors negotiate an acquisition transaction in order to secure the best value for shareholders.

“Are you short on cash? Do you own your home? Come in today and let us show you how you can make money each month while keeping your house!”

An inside look and unfocused analysis of the Collins Center for Public Policy foreclosure managed mediation process and hopeful prospects for success in the State of Florida and perhaps around the foreclosure-ravaged country.

Amid the economic turmoil sweeping the world, the financial services markets are evolving. Islamic finance has become the prevailing method of finance in some Eastern states where conventional finance once dominated.

The Michigan legislature has recently enacted a new Foreclosure Prevention bill into law. This law is designed to give homeowners more time to work out a modification on their mortgage and remains in effect for two (2) years from the date of enactment.

After several years of lobbying by law practitioners, the European Parliament finally issued in 2006 Directive 2006/68/EC (hereinafter: “the Directive”) providing the Member States with the opportunity to ease some of the capital protective measures as set out in Directive 77/91/EEC regarding the formation of public limited liability companies and the maintenance and alteration of their capital.

Real estate fraud in Ontario generally includes “mortgage fraud” (e.g. fraudsters acquire a mortgage fraudulently through false information or identification and run away with the money, leaving the true home owners with a significant liability) and “title fraud” (e.g. fraudsters use stolen identity or forged documents to transfer a registered owner’s title to him or herself without the owner’s knowledge).

The legal requirements for the incorporation of substantive Companies, subsidiaries and holding companies are contained in the Companies and Allied Matters Act (CAMA) Cap 59 LFN1990. They are mentioned hereunder as:

A European development with a global impact. Joey Garcia analyses the effect of the implementation of the AIFM directive and discusses how a European domicile might, in this context, be of benefit and, in particular why Gibraltar is well placed to offer a European solution

Basic procedure

Grand Field Group Holdings Limited (the “Company”) was listed on the Hong Kong Stock Exchange and carried on the business of property development and sales in China through its subsidiaries.

The concept of a trust is an arrangement whereby property is transferred from one person (the Settlor) to another person (the Trustee) who holds the property for the benefit of specific people (the Beneficiaries). A Trust Deed sets out the terms and conditions under which the Trustees hold the trust assets. It also outlines the rights of the Beneficiaries.

For any economy to grow or decline, investment policy is the chief determining factor. By 1990 Cameroon had been suffering under the yoke of economic crisis for nearly half a decade. It was becoming important to find a new paradise of economic prosperity. Law n° 90/071 to rectify ordinance n° 90/007 of 08/11/1990 on the Cameroon Investment Code was to provide the way forward.

In order to save expenses and improve efficiency, companies often neglect to review the contract contents, only to sign a cooperation intention, or else the contract terms lack of maneuverability, and some even don not sign any file at all. Such phenomena result in the mistaken mind-set of the foreign companies when trade with Chinese companies.

Joint venture has been an important way of foreign investment so far. However, without a clear knowledge of China's legal system immodestly, or without due diligence investigation of their partners, or in order to register efficiently, foreign investors usually acquiesce their Chinese partners or Chinese agencies to sign files, and thus hidden risks would be buried under the development of venture.

The Cyprus Limited Company is currently one of the most popular and efficient corporate structures for doing business locally and internationally. This is primarily due to the attractive corporate legislation of Cyprus and its significant tax benefits.

What to Copyright?

Ukrainian foreign currency controls are rather strict and bureaucratic. In order not to be sanctioned by controlling authorities, foreign companies and investors are to know main pitfalls and problematic issues.

Settlement of Investment Disputes

How to protect real estate and other assets.

The article reflects on the outcomes of the summit G20, which occurred in April 2009. White, grey and black lists of jurisdictions are described and analyzed. Latest tendencies in the offshore world are represented.

The article follows and elaborates the new decree which was issued by the government during the dissolution of the parliament of Kuwait and elaborates about the benefits of the decree, the size of the governmental support for the local companies and the economy in general.

The rapid pace of change in Libya creates significant opportunities, challenges and complex decisions for economic operators and investors. To benefit from these opportunities it is necessary to follow the fast changes of the Libyan law and in particular the requirements regarding the a business presence of a foreign company in Libya.

Borrowing money outside Ukraine may be very profitable, because average interest rates of foreign banks are much lower (3-4 times) than of Ukrainian banks. In case you get loan or credit from foreign country, you are required to register your credit/loan contract by the National Bank of Ukraine, otherwise financial sanctions can be imposed on your company.

Bank officers routinely meet with borrowers to talk about troubled loans. The banker and the borrower oftentimes leave the same meeting with divergent views regarding the parties’ obligation and agreements. The bank’s subsequent attempt to enforce its loan documents may invite retaliatory lawsuits.

The Bahamas is also an established corporate and financial hub which is regularly used by both private individuals and corporate entities as a vantage point for their financial portfolio. Often recognized for its proximity to North America and for its number of professionals involved in the corporate and financial industry, investors worldwide often choose The Bahamas as their financial centre of the western hemisphere.

A Primer on Real Estate Asset Protection, by CS&P Fiduciaire, leader in asset protection consulting.

Why and how to setup an asset protection strategy

If the two sides concerned in foreign-related commercial intercourse locate in different countries or regions, it would be relatively difficult for them to get wise to their potential partners' contractual capability, business integrity and so on. Once some disputes occur, both arbitration and litigation are complicated and expensive. Therefore, it is a convention that a bank guarantee would be necessary by signing a contract in international trade.

Exhibition industry, belonging to the field of trade in service, is a fresh troop in information industry. As the economic globalization intensifies, various exhibitions in China also started being carried out like a raging fire.

Ong Hong Hoon (“Ong”) was the executive director of GP NanoTechnology Group Limited, formerly known as Guang Ping NanoTechnology Group Limited (the “Company”) previously listed on the Growth Enterprise Market (“GEM”) of the Stock Exchange of Hong Kong Limited (“HKSE”) and de-listed in June 2005. Ong was also the chief executive of the Company and its subsidiaries (the “Group”) and had responsibility for the overall daily management of the Group.

Discussion of the business valuation standards adopted by the AICPA, including valuation methods.

Today, the most significant studies oriented towards protection of Intellectual and Industrial Property Rights have been carried out under the heading “Combat Against Pirate”. Considering the fact that in general pirate music or motion picture materials, or pirate printed books could easily reach at the smallest districts all over Turkey, the phase attained in the combat against pirate can also be easily assessed.

By conducting a foreign-related commercial contract, several legal issues must be considered under the premise of having core items in general contract, since its foreign-related characteristic determines its difference from other general commercial contracts. This article will consult special provisions of Chinese laws to foreign-related contract, and give you a brief analysis on the effectiveness and the legal applicability of foreign-related commercial contracts for reference.

This article is for information only and not legal advice. The author discusses the enforcement of foreign judgments in Canada. This article was originally presented in French at the Conference of the Association of French Speaking Lawyers of Ontario (AJEFO) in Niagara Falls, Ontario, June 4, 2004. It has been translated into English by the author. The content is still current to 2009.

From 1st of July 2009 there is a new Notary Taxes Tariff which amends the amount of the notary fees related with the transfer of the Titles. The base for calculation of the notary fees remains the amount of the purchase price.

The State Administration of Taxation issued Notice on Administration of Individual Income Tax Collection regarding Stock Transfer (hereinafter “Notice”) on May 28, 2009. The Notice emphasizes the liability of individual income tax payment by individual shareholders for the stock transaction and a strict procedure is set to avoid tax evasion.

As the national foreclosure crisis continues to grow, the federal government and several states are taking corrective measures to diminish the fallout from predatory lenders and fraudulent subprime mortgage bankers. Several of these measures aim to make it easier for owners to retain their homes while they renegotiate their mortgages.

In the Company Law amended in 2005, the shareholder representative lawsuit was established officially for the first time, which affected the company governance deeply in China. As an important part in modern company system, the shareholder representative litigation not only makes up for the defects of the company administration structure and other inefficient remedies, but also plays an important role in protecting interests and rights of the company as well as the shareholders, etc.

The recent economic downturn has resulted in many of us tightening our belts. Everyone is looking for ways to reduce their spending. We often overlook the very obvious method (and also substantial) savings through refinancing.

The Chinese securities market is a hot area for foreign investment. Currently, China has opened the B-share market to foreign investors, and begun to open the A-share market to qualified foreign institutional investors, which means China has opened its domestic stock market to foreign capital. In terms of securities firms, China is beginning to widen market access to foreign capital.

On March 5, 2009, the Law of Ukraine “On amending to some legislative acts certifying the title to land plot as well as the procedure of partition and consolidation of the land plots” was adopted.

Floating stock of listed companies refers to the shares which can be transferred freely on the market. Actually, such kind of stock transfer is not confined in securities exchange system, moreover，transferring the floating shares through signing the stock transfer agreement is also prevalent in economic life.

A primer for those seeking to invest or conduct business in the nation of Afghanistan.

As you know, all foreigners must have a “foreign work permit” in order to legally work in Ukraine. Until recently, all one had to do was simply file the necessary documents and then patiently wait for three months. However, the Cabinet of Ministers recently passed Resolution No. 322, which will surely cause controversy among the foreign business community.

In accordance with the new Commercial Register Act all Bulgarian companies registered before enforcement of the Commercial Register Act (01. 01.08) should be re-registered under the terms of the new Commercial Register Act.

To promote the expansion of PRC companies domestically and internationally by mergers and acquisitions in the current global economic crisis, the China Banking Regulatory Commission has promulgated the “Guidelines on Risk Management for Loans extended by Commercial Banks for Mergers and Acquisitions” (the “Guidelines”) on 6 December 2008.

In the present article we will briefly present the legal provisions in force in Romania which make the use of the FIDIC Conditions of Contract mandatory when Romanian authorities are either beneficiaries or employers.

With the deepening of China's reform and opening, as well as the maturing of China's market economy, the transfer of shares also frequently occurs to enterprises, many of which are foreign-invested enterprises. Therefore, foreign-funded enterprises constantly come to consult how to deal with the taxation in equity transfer. Now, on the tax issues involved in the transfer of foreign equity; we give our introduction and explanation as follows.

As the damage from the subprime lending meltdown spreads, the question is not Who will suffer losses? but Who will be legally responsible when the inevitable lawsuits follow? There may be some surprises.

With our country mired in a recession, a record number of individuals (13.7 million as of April 2009) are collecting unemployment benefits. That translates into an unemployment rate of 8.9% (the highest in 26 years).

The system of cross-border stock-for-stock M & A was established for the first time through the implementation of "the Provisions on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors" (here after called "Provisions on Mergers and Acquisitions") enforced on 8th September 2006.

This briefing looks at how the bail out of the banking industry will affect Tax Grouping Rules.

In Gray's Timber Products Limited v Revenue & Customs Commissioners the Inner House of the Court of Session provided further guidance on valuing employment related securities.

Congress has authorized a second 6-month extension of the Immigrant Investor Pilot Program until September 30th. 2009. With the US economy still reeling and unemployment rates continuing to rise, there is substantial support to make this program permanent. The EB5 program is designed to bring foreign investment into the US and to create employment opportunities for US workers.

There are two basic sources of funding your business succession plan. Either the seller funds the transition plan, or the buyer does. How you fund the plan will affect the price, the terms, and the subsequent involvement of the selling owner.

There are some very limiting restrictions on the type of activities that an RO may engage in.

Reputable market researchers has described Bulgaria’s property market as one that has made a return for 2009 and more precisely the winter sports resorts that the country is becoming increasingly famous for.

As we know, legal environment plays an important role for investment environment, and is also a necessary factor of attracting potential foreign investors. In this case, it has become an essential indicator for improving investment environment in China.

On 24 April 2009, China’s Ministry of Commerce (“MOFCOM”) published yet another controversial decision from its fledgling Anti-Monopoly Bureau (“AMB”) concerning the acquisition of British owned chemical producer, Lucite, by Mitsubishi Rayon. Approval was granted to the transaction, following approvals from every other competition bureau around the world, however that approval was made subject to some controversial conditions.

Be smart and follow these seven ways to financially protect and prepare yourself for an imminent divorce situation.

Foreigners will find that Panama has special regulations which favor investments in real estate and have the added advantage of bilateral investment treaties

Before the accession of Romania in the European Union there existed strict rules that prevented foreign investors, either legal or natural persons, to purchase land in Romania. After January 1st, 2007 when Romania joined the European Union these rules have been changed and as such presently foreign investors are allowed to purchase land in Romania under certain conditions.

Foreign natural or legal persons are admitted by the Romanian law to hold shares in Romanian limited liability companies. There is no limitation as to the share capital with a foreign investor, either legal or natural person, can hold in a Romanian limited liability company. As such, a foreign investor can hold the total share capital of a Romanian limited liability company, it thus being the sole shareholder.

Maltese law by the Companies Act in 1995, replacing the Commercial Partnerships Ordinance originally promulgated in 1962. Drawing extensively on the UK rules, the Maltese law provisions were introduced to bring Maltese law in line with developments in company law theory and practice in Anglo-Saxon jurisdictions in this regard, primarily curbing abusive practices in takeovers and acquisitions by protecting the company’s capital and, safeguarding its shareholders, creditors and employees.

This article analyses the new Chinese Anti-Monopoly Law, and recent decisions in international M&A transactions under this law - including the Inev/Anheuser Busch transaction, the Coca Cola/Huiyuan transaction and the Mitsubishi Rayon/Lucite transaction. This article also suggests steps that can be taken to maximise chances of approval being obtained from the Chinese Anti-Monopoly Bureau in M&A transactions requiring approval.

The development of the law, legal events and time have been complimentary for centuries. Every standard law will require updating after the occurence of influential events especially comparative global trends in corporate law and practices. One of such laws is the Nigerian Companies and Allied Matters Act 1990 which remains the most single significant corporate law in Nigeria. Some of the required updating are new business laws, new corporate regulatory practices, corporate ethics, etc...

Commercial credits are most commonly used in the international transactions areas. Its main future is that; it gives security both the exporter (seller) and the importer (buyer). The Seller knows that, he will get paid if he completes his duty properly. The buyer, on the other hand, can ensure to part his money before the goods are received. According to Professor RM Goode, describes it as “the most successful harmonising measure in the history of international commerce."

Cross-default clauses are part of the customary tools and modules of international banks. Their operational area covers credit agreements with enterprises, as well as governments and governmental agencies all over the world.

A transaction on acquisition of participatory interest or shares in charter capital of legal entities concluded without consents and approvals required by the Kazakhstani legislation may be acknowledged invalid by court at the suit of interested parties.

In the following we would like to generally refer to the conditions, costs, steps and time frame for setting up a limited liability company in Romania.

With food prices rising across the globe, adventurous foreign investors can find excellent business opportunities in Ukrainian agricultural sector despite (or perhaps due to?) the global economic crisis. Known as “the breadbasket of Europe”, Ukraine still boasts enormous land reserves that can grow various grains, seeds, fruits and vegetables. Plus livestock. And due to the crisis, at last everything and everyone is available for sale or rent at rock-bottom prices.

On December 16th, the Official Gazette published law No. 26,452 (the “Law”), that amended the law on personal assets tax No. 23,966 (the “Law on Personal Assets Tax”). Within its most important amendments are certain provision on the personal assets tax (“PAT”) over shares and stakeholings in local companies and the inclusion of non-financial trusts to the provisions of the Law on Personal Assets Tax.

On 2 February 2009, the Official Gazette published disposition No. 33/2009 (the “Disposition”) of the Federal Tax Authorities that incorporates provisions related to the capacity of the tax agents acting in tax enforcement proceedings (judicial collection of tax debts).

According to Decree No 616/2005, any sums entered into Argentina by non-residents are subject to the constitution of “a nominative, nontransferable and not remunerated deposit, of the thirty percent (30%) of the amount involved in the relevant transaction, during a term of three hundred sixty and five (365) running days”.

Choosing which type of legal entity to register is one of the most important stages before undertaking business activity in Russia. The type of legal presence will influence all activity, including financial and tax reporting, customs and currency control. Therefore, an investor should pay special attention to determining the appropriate corporate form which will help him achieve his goals while meeting all legal requirements.

There is no shortage of infrastructure projects on the African continent but the landscape changed dramatically in 2009. The turmoil in global commodity and financial markets over recent months has probably changed banking forever.

About two years ago there was a lot of media coverage about South Africa adopting something similar to what the Canadian tax regime has namely, a form of flow-through company. The idea behind this company was to assist the development of junior mining companies, by passing the tax breaks which a mining company is eligible for to its shareholders in the period before the mining company generates sufficient taxable income from production to utilise the costs generated by its mining activities.

Both individuals and businesses are faced with the choice of whether to lease or whether to purchase property. Many of the same considerations apply whether the property is an automobile, a personal residence or an office condo or building. These considerations need to be weighed by the individual or company to determine which is the right decision for you.

There is a growing trend by California Charities and Non-Profit Organizations to hold raffles for dream homes worth millions of dollars and poker tournaments to increase donations in these tough economic times. However, there are a considerable number of rules which must be followed by such charity organizations and violation of those rules can lead to a charity being referred to county prosecutors as this Orange County Charity attorney explains.

Nigerian Government may debt finance and/or equity finance its 2009 joint venture cash call obligations.

Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) Release Criteria for Licensing Market Makers in Nigeria

Jérôme Kerviel was allegedly involved in an illegal trading scheme amounting to €50 bn., which resulted in a loss of €4.9 bn at Société Générale, the second largest bank in France.

The Sherman Anti-Trust Act is the fundamental basis of American antitrust legislation. While later laws would expand upon the definition and enforcement of antitrust as a legal concept, the Sherman Act has been the foundation of antitrust law for over one hundred years in the United States.

This article discusses three major antitrust cases - AT&T, Kodak & Standard Oil - and the effects they had on US antitrust regulation.

Since the first bankruptcy case of China in 1986, Chinese become more and more familiar with bankruptcy. However, due to the profession of the procedure and numerous revisions on related laws in 2006, public has very little deep comprehension on bankruptcy.

Today, as many in the global market are aware, China is becoming the land of opportunity. China's strong and steady growth, proven by many years of continual GDP increases, seemed unstoppable. Economic growth led to an increase in personal incomes, especially in larger cities. The emergence of a large middle class, often consisting of well-educated professionals, added to the consumer demand for globally recognized, quality products.

Since reform and opening up of China thirty years ago, a large amount of foreign investments has rushed into this country. Not only continuous heated economy does it produce, but also many new words does it bring to China.

In the last three to five years, Africa has seen the increasing use of public private partnerships for infrastructure development. This private sector involvement has been dependent on the commercial viability of projects with revenue streams covering more than the capital and running costs involved, ensuring an appropriate return.

The following is a case review. Sanyuan Group Ltd (“Sanyuan”) which was a listed company on the Hong Kong Stock Exchange (“HKSE”) and together with its subsidiaries (the “Group”) were previously engaged in transportation, property investment and pharmaceutical/health care businesses.

Summary of the new legislation for the financing of German limited companies.

A survey was sent to over 5,000 PI’s all over the world. Overwhelming results revealed that the Financial Crisis of 2008 has hit the Private Investigations Industry.

In the Sudan, a company having share capital may be incorporated as a private limited liability company or a public limited liability company. In the Sudan companies are incorporated under the Companies Act of 1925 as amended from time to time.

Higher levels of investment and productivity are key elements to stirring growth in the Sudan as a developing country and raise living standards. Attracting investment is a competitive exercise which requires stable, sound macroeconomic policies where risk environment is highly low.

The Anti-Monopoly Law (the “Law”) of the People’s Republic of China (“PRC”) came into effect on 1 August 2008. Two days later, the State Council promulgated the “Regulations of Filing Standards for Concentrations of Operators” (the “Regulations”) to provide the thresholds above which operators must report business concentration to the Anti-Monopoly Bureau of the Ministry of Commerce (the “MOFCOM”).

In an effort to avoid the costs and time involved with a Florida probate case, many families rely on techniques that that they hear about from friends or that were used by previous generations. Often this causes problems for the individual and their families

Central Bank of Nigeria and Foreign Ownership of Nigerian Banks

A Survey of Compensation Packages for US and UK Qualified Attorneys Working in the Asian Legal Markets.

Discussion of fraudulent and negligent misrepresentation in the context of a hypothetical fact pattern.

Overview of different organizational forms available in Spain as well as tax implication to the US citizen participating in a Spanish business venture.

Overview of US tax laws affecting both US and non-US residents/citizens.

Limitations to corporate liability protection. Principles discussed are of general application, though legal authorities cited are based on Florida law.

The liberalization of the oil & gas sectors of the Nigerian economy and increased global demand for crude oil have combined to make Nigeria a key player in the global oil market. However, for decades, Nigeria’s oil and gas sectors have been dominated by foreign multinational entities with large expatriate workers deployed in both on-shore and offshore locations in the country.

Canadians are familiar with making donations of cash or securities and getting a charitable donation tax credit for such donations. However, with the possible exception of artwork and used cars, they are less familiar with getting a tax receipt for donations of assets. But indeed, donation tax credits are available for donations of all types of property.

On October 1, 2008, the Florida legislature enacted the Florida Foreclosure Fraud Protection Act. This new law protects homeowners from many of the foreclosure rescue scams, unlicensed loan modification companies, and other questionable companies that are targeting people in foreclosure.

Several different groups were involved in the packaging and marketing of the Banyan Tree Program to potential participants. Some of these marketers used a favourable tax opinion letter from Fraser Milner Casgrain LLP, a prominent national law firm, to market the program. Now, many of these participants are banding together in a class action lawsuit to sue these actors and Fraser Milner Casgrain LLP for damages of over $50M.

The best time to consult with an attorney is when you don’t need one! Whenever you have concerns about a potential problem, that is the time to talk to a lawyer.

What could persuade an investor to invest in your company once they've shown initial interest? Clearly having your company's products and business goals match the investment policy of a potential investor is a prerequisite. However, there are a number of additional steps you can take which may sway investors to choose to invest specifically in your company.

The casualties of the sub-prime crisis have so far been confined to financial institutions and investor confidence is at an all time low despite unprecedented measures by central banks around the world injecting hefty funds to shore up financial institutions and large corporations except for Lehman Brothers. In recent weeks, the Hang Seng index fell to a level not seen since the SARS crisis and a malicious SMS was enough to spark a run by depositors on a major bank in Hong Kong.

This memorandum provides an overview on the basic rights of a shareholder in a joint stock company incorporated under the laws of Turkey. The memorandum does not cover public companies.

Alex Bomberg of International Intelligence Limited reveals how firms should guard against their companies falling foul of future litigation via straight forward basic due diligence.

Most people do not realize that they can stop foreclosure even if they stopped paying their mortgage. Many recent cases have been filed improperly and an experienced attorney can assist with the identification and filing of substantive and procedural defenses with the court and vigorously defend your case.

Almost anything is technically possible in espionage when you are dealing with multi-billion pound litigation cases, mergers and accusations or intellectual property rights.

Corporate Espionage was once thought of as a risk that only affects the richest of companies in high-risk sectors or emerging markets, the latest trends suggest that this is far from the truth.

On 7 October 2008, the UK Government published its Banking Reform Proposals – the Banking Bill 2008 (the "Bill"). The Bill will replace and enhance the existing emergency legislation (which expires in February 2009) – the Banking (Special Provisions) Act 2008 (the "Special Provisions Act").

On 16 September 2008 HMRC published guidance on the consequences of Demibourne Limited v HMRC [2005] which concerned an employer failing to operate PAYE and the employee paying tax on the income under self-assessment on the basis that he or she was self-employed.

A look at the top ten mistakes you can make in drafting and safeguarding your will. The author also reminds individuals that they need to leave sufficient copies of their wills with trusted friends so unscrupulous relatives don’t destroy their only copy.

A look at how living trusts can, depending on the size of your estate, reduce your estate taxes. As the author indicates, trusts can reduce your estate taxes and eliminate the need for probate and avoid probate fees. Trusts are not as complicated as people think but a will is still useful for property that falls outside of the trust.

This article uncovers the next real estate crisis, a shortage of affordable rental properties. As someone familiar with the real estate market in the Coachella Valley of California, the author examines this area of California in particular and uncovers what could be a silver lining soon for the construction industry especially in light of the decline in new construction. While real estate agents are also suffering, and brokerage houses are closing, the rental industry may be ready for a boom.

The author of this article discusses some possible new problems the construction industry may face in the current economic crisis. As one familiar with real estate and construction issues in California, the author discusses constractor lending problems, construction defect and lender lawsuits and looks at what could be an even more perfect storm heading for the construction industry in California.

The author of this article discusses the looming crisis facing homeowner associations in California. He examines how the real estate crisis and high foreclosure rate will affect homeowner associations forcing them to cut back on services, delay or eliminate projects and levy special assessments.

The author of this article discusses some possible new problems the real estate market may face in California as the economic crisis and credit crisis grows. The article also focuses on some new construction law problems in California related to the credit crisis and the relates the type of calls attorneys are now getting from the public in fear of losing their homes.

The author has prepared these draft forms for use in TARP, the $700 billion Troubled Asset Relief Program. While the forms may need some tweaking, in this humorous article the author provides draft forms not just for TARP 1, but also for TARP 2 when financial institutions need to request additional funds.

This legal author discusses the $700 Billion Bailout Plan, the Troubled Asset Relief Program (TARP) and what it means for federal regulations lawyers who will be called to interpret the law and the truckloads of new regulations that will likely follow. After years of deregulation in the U.S. and internationally, one thing is certain in these uncertain times. There are going to be a great deal more regulations put on the financial and other industries.

One of the most paramount questions on the mind of every entrepreneur on the verge of starting their own business or intending to expand their business is how to raise capital. This article seeks to consider the various types of financing options and the legal considerations that are available to start up businesses and companies with the desire to expand in Nigeria.

A comparison of joint ventures and political running mates finds that it is usually the economic conditions that makes them work or not.

By the twilight of the last administration in Nigeria, a plethora of discontentment on the Privatization exercise had reached fever pitch. A checklist will include NITEL, NEPA (PHCN), the power sector reforms, the ports reforms, sale of Ajaokuta and Delta Steel, Daily Times, AP, ALSCON, NAFCON, the constant labor disputes, the proposed and ill advised concession of Unity Schools, the sale of the Trade Fair Complex, the draconian sale of Federal Government properties in Lagos and Abuja etc.....

This article notes the changes to the world's financial system that are likely as a result of the global financial crisis. The author describes the concerns of the European Union with the U.S. and the effect America's mortgage meltdown is having on the countries in Europe.

The definition of foreign investment is contained in paragraph 1, article 6 of the Investment Promotion Act.

In the last days of September 2008 and in an effort to address the turmoil in the global financial markets, the National Bank of Ukraine amended its Regulation No. 363 establishing interest rate limitations for foreign loans provided to Ukrainian residents which was in place since August 2004.

Due to increasing market pressures and other situation-specific factors, employers are often required to terminate employees in China. This article briefly outlines some of the issues that must be addressed by employers before and after employee termination, including matters to consider during the hiring of prospective employees, from the perspective of the employer.

This briefing reviews the battle between the Information Commissioner's Office (ICO) and the Financial Services Authority (FSA) over information disclosure.

Excited about coming to China but hesitated because you are unfamiliar with China market practice and its legislation? This article provides one-station solutions that will help you startup easily in China.

Turkey has made various legal improvements to reach a modern arbitration system. The reforms were not only proceed at international level such as being signatory to multinational treaties such as the New York Convention and the Washington Convention, but also at domestic level including the adoption of Model Law and amendments at Turkish Constitution of 1982.

In line with global trend towards a higher standard of corporate governance based on the principles of integrity, transparency and accountability, the duties and liabilities of the directors of the listed companies in Hong Kong (the “Directors”) have therefore become more stringent over the past few years.

This article has been prepared for companies and individuals proposing to invest in business in the Republic of Uzbekistan. It is a summary of some of the main legal considerations to be taken into account in making any such investment.

Trademarks in Cuba, commercial names in Cuba and patents in Cuba can be fully protected by U.S. individuals and corporations.

This article outlines how the China Securities Regulatory Commission (“CSRC”) relaxed China’s restrictions on foreign participation in securities companies.

Since 1999 Nigeria has experienced a profound level of structural, political and economic changes that have made it one of the emerging markets in Africa. Nigeria has evolved to the point where there are excellent investment opportunities in multiple asset classes, including public equities, debt, and private equity.

Regional Documentation: Transfer Pricing Regulations are expanding through Latin America not only in terms of the number of countries they involve, but also the levels of document requirements. The solution for Small and Medium-sized Enterprises (SMEs).

Regarding the necessity of Turkish economy to boost the public-private partnerships (PPPs), CMB contributed to the topic by issuing the draft “Infrastructure Investment Trust” in order to enhance the investment climate.

Due to the fact that China has become the world's leading manufacturing base, this article highlights the need for foreign companies to carefully select and monitor their OEM suppliers in China.

China has undergone rapid development in the past two decades due to the opening of its market and its recent succession into the WTO. This article discusses the rules and regulations for foreign franchisors establishing and operating in China.

On March 6th 2008, the Official Gazette published Resolution Number 526/2008 of the National Securities Commission (the “NSC”) which delegates to the Argentine Association of Common Investment Funds (the “AACIF”) the duty to carry out the registry of the qualified ones agents of common investment funds (the “Registry”).

Marital homes are often purchased in the joint names of husbands and wives. It is also common that the husband would get a bank loan and mortgage the marital home as security. In such circumstance, the wife as joint owner will be required by the mortgagee bank to stand surety for the loan.

China's tax refund policy for re-investment with profit by foreign investor

The Capital Markets Board of Turkey (CMB) released the restrictions governing the some of the financial operations of sports activities business listed corporations with a set of principles.

Private Foundations are a unique form of legal entity which acts like a Trust and operates like a company. In this article, you will find some of the advantages of Private Foundations.

The China stock market boom and its subsequent decline is certainly “old news.” In July 2007, the chairman of HSBC’s Asia-Pacific division described the domestic demand for its shares in China as “mind-boggling.” However, between October 2007 and April 2008, the country's stock market indices fell by nearly 50 percent.

Malta's commitment to the fight against money laundering and the funding of terrorism is firmly rooted in the country's interest in safeguarding its role as a reputable financial services centre, and buttressed by the country's status as a full member of the European Union and signatory to the main international multilateral treaties intended to tackle the affliction of money laundering in the world’s financial markets.

Capital Markets Board of Turkey (CMB) issued the new awaited communiqué regulating the mandatory principles set for publicly-open joint-stock companies which came into force on 19th March.

Any dispute arising from or in connection with this Contract shall be submitted to China International Economic and Trade Arbitration Commission for arbitration which shall be conducted in accordance with the Commission’s arbitration rules in effect at the time of applying for arbitration. The arbitral award is final and binding upon both parties.

China is no longer the ‘Sleeping Dragon’, but is now moving full fledged ahead as an undisputed economic force in the international market. With the world’s largest population at 1.6 billion and its increasing wealth there is no denying its tremendous consumer power.

The Cour de cassation (French civil and commercial supreme court) has rendered a decision on the 26th of February 2008 (Commercial Chamber of the Cour de cassation – decision n°07/10761) regarding the liability of financial investments companies.

After spending all that time on researching your holiday home or retirement property purchase in the Land of Smiles, Thailand and with the stress of property negotiations and many a restless night, the end is within reach. All that needs to be done now is the transfer of property to your name at the Thai Provincial Land office.

What are the main laws regulating real estate in Ukraine? What are legal restrictions on ownership of real estate by non-residents? Which parties are involved in a real estate transaction in Ukraine? These are the most frequently asked questions before investing in real estate in Ukraine.

For the purpose of harmonisation with the Directives 2004/39/EC of the European Parliament and of the Council on Markets in Financial Instruments (“the MiFID”), and Directive 2006/31/EC of the European Parliament and of the Council of April 5 2006 Cyprus enacted on November 2007 the Law 144 (I)/2007 (“the Law”), that provides for the Supply of Investment Services, the Exercise of Investment Activities, the Function of Regulated Markets and other related issues”.

On November 9, 2007, the Official Gazette published General Resolution No. 519 (the “Resolution”) of the National Securities Commission (the “NSC”), which incorporates to the NT 2001 Norms (the “Norms”) new regulations for the creation of financial trusts and closed common investment funds for easing the financing of small and medium-sized undertakings (henceforth, “SMUs”).

General Resolution No. 514 (the “Resolution”) of the National Securities Commission (the “NSC”), introduces new articles in Chapter XXVI of the Rules of the NSC (N.T. 2001) (the “Rules”), concerning information to be published in the Financial Information Highway.

On October 23, 2006, Resolution No. 12/2006 of the Public Registry of Commerce (the “Resolution”) was published in the Official Gazette. The Resolution, adds to the Regulations of the Public Registry of Commerce (“Regulations of the PRC”) contained in General Resolution No 7/2005 (“Resolution 7/05”), dispositions on the application of the irrevocable contributions to cover losses in the local companies and limited liability companies, that receive this kind of contributions.

On December 27, 2006, the Supreme Court of Justice (the “Court”), in the case “Massa, Juan Agustín vs. National Government”, that refers to a complaint filed by an individual who had dollar deposits in a private bank prior to the enactment of Law 25,561 and Decrees 214/2002, 471/2002 and 905/2002 and all the other related rules that imposed the conversion into pesos of dollar deposits.

We briefly analyze the insolvency proceedings available to both companies and individuals in Argentina.

Tourism investments in Uruguay, South America, has increased in the last years. This industry is increasing its participation, year after year, in the GDP of the country. Uruguay is regionally famous specially for the hundred of kilometres of beaches in its coast and the interest shown by international hotel chains to have presence in the country, especially in Montevideo, the well known beach resort Punta del Este and Colonia, close to Buenos Aires.

The Supreme Court recently recognized and established the jurisdiction of the Cypriot courts to issue discovery and disclosure orders - known as Norwich Pharmacal and Bankers Trust orders.

This article provides a short account of the Cyprus Republic (“Cyprus”) legislative guidelines (hereinafter the “guidelines”) in connection to publicity and the release of information and inside information when securities and financial instruments are offered to the public and/or admitted to trading on a regulated market. It should be noted that the present merely serves as an indicative supplement to the existing legal framework set below and it should be read closely together with the same.

The prohibition of financial assistance by a Cyprus company to purchase its shares or the shares of its holding company often stands as an obstacle in local and international acquisition finance transactions. However, expert legal advice may assist in providing alternative structures and solutions.

A new beginning.

Taxation in the Dominican Republic is governed by Law No. 11-92 of May 31, 1992, commonly known as the Tax Code (“Código Tributario”), its amendments and regulations (“Reglamentos”). This overview is a brief summary of the Tax Code’s most relevant provisions. All references in parentheses refer to articles in the Tax Code unless otherwise specified.

Divorce is never easy. That's why the Dominican fast divorce is the best way to get through it with minimal damage, so you can move on with your life as fast and as painless as possible.

The Banking system of the Kyrgyz Republic consists of the National Bank of the Kyrgyz Republic (National Bank) and commercial banks.

Transactions in Foreign Currency

Financial Reporting Since 28 September 2001, International Standards of Financial Reporting issued by the International Accounting Standards Committee (London) are accepted as the financial reporting standards of the Kyrgyz Republic.

Since investments are a major prerequisite for economic development in the Kyrgyz Republic, investment legislation of the country is quite liberal. This article is part of the Information and Reference Guide “Business in the Kyrgyz Republic: Legal Aspects” for potential investors planning to do business in the Kyrgyz Republic.

Islamic banking is often thought to be financing the needs of the Muslim community only. In fact, it really refers to a system of banking activity that is consistent with Islamic principles and following the Islamic economics.

The basic prerequisites for the approval of applications by non-EU nationals wishing to undertake a direct investment in Cyprus are highlighted by a recent circular by the Cyprus Central Bank, elaborating on the provisions contained in article 10 of the Capital Movement Law 115(I)2003.

The most common business entity in the Dominican Republic is the corporation, locally called “Sociedad Anónima” (S.A.) or “Compañía por Acciones” (C. por A.). As corporations in other countries, Dominican corporations are legal persons which exist independently of its shareholders. Likewise, the liability of the shareholders is limited to the amount of their contribution to the corporation.

Being a unique combination of an ancient people and a young developing state Republic of Armenia is currently becoming more attractive for foreign investors. That has been the reason for us to select regulation of foreign investments as the topic for the present short article.

The Algerian legal system for the promotion of foreign investment.

Business practices and relationships in China are very different from those commonly encountered in the US, and attorneys relocating to Asia should familiarize themselves with local customs. Here are some tips and tricks to minimize the risk of causing offense.

If you are starting a new business and trying to determine which form of entity to create, we can help you make the right choice. It is impossible to make an informed decision without understanding the basic characteristics of the various kinds of business organizations established and recognized by state and Federal laws.