LATEST ANALYSIS
July 2010
30 Jul 2010
Disclosure law has just found its new sheriff, and he's waving a big gun at Bank of America/Merrill, notably going it alone rather than being boxed into others' class actions…
30 Jul 2010
Corporate bond offerings are hot these days, despite Dodd-Frank’s confusing impact on bond activity. Issuers from Agilent to Target, lured by low long term rates, have recently...
30 Jul 2010
In a too-good-not-to-be-true story, Lisboa Leisure, Inc. will conduct an initial public offering in hopes of realizing $32,000 in proceeds…
30 Jul 2010
Reverse takeovers are on the uptick, as is the legal complexity that rides alongside them, sometimes stopping them in their tracks. Fueling this is an increase in UK cash shells, and both LSE and AIM companies benefit…
30 Jul 2010
As luxury retail sputters, high end retailer Neiman Marcus seems to be attempting to inject new life into its existing employees by way of new compensation incentives…
30 Jul 2010
For Calgary-based Compton Petroleum, the climb back to stability following the global economic crunch of the past few years has been...
29 Jul 2010
The legal side effects of financial reform legislation are already creeping into the market. While many of the changes envisioned under Dodd-Frank will take place years into the future, one of its immediate effects is…
29 Jul 2010
The controversial practice of food price speculation is hotting up in the UK, undeterred by allegations of distorting markets and unscrupulous speculation. With a public campaign against Goldman Sachs for “gambling on hunger”…
29 Jul 2010
Quicksilver Resources is attempting to turn its excess gas into gold. The Texas-based natural gas and oil exploration and production company recently entered into a...
29 Jul 2010
Mining, petroleum and mineral companies looking to list on the Hong Kong Stock Exchange now must comply with additional reporting standards…
29 Jul 2010
Buying assets from a business in financial distress may require special protections and provisions, as illustrated by...
28 Jul 2010
Subprime chickens are still coming home to roost for hedge funds like Highland Capital Management and one-time fund operator Carlyle Group, which have been the targets of recent lawsuits…
28 Jul 2010
Not only are EU regulators crowing about their recently-concluded tests, but so too are those who have suffered through the stress. From ING to Barclays, European banks are disclosing that…
28 Jul 2010
Google may be turning green with envy over Baidu’s recently released unaudited financial results for its fiscal second quarter. The Chinese language search provider inherited a…
28 Jul 2010
General Motors does not want to leave things to chance when it comes to its announced $3.5 billion merger with AmeriCredit. The auto giant has locked up...
28 Jul 2010
Somehow, the philosophy of ‘everyone’s gotta eat’ has not been translating into gushing profits for the world’s agribusiness conglomerates. Cutthroat competitors Archer Daniels Midland, Cargill and Bunge, among others, are reporting something in common to shareholders…
28 Jul 2010
Contrary to other industries’ credit woes, Israel’s cash-laden Radvision has announced an offer to repurchase nearly a million of its shares representing 5% of the company’s voting power…
28 Jul 2010
Canadian issuers, including MDS, Genworth MI and ACE Canadian Holdings, are together spending billions buying back their own shares, a sign some view as evidence that…
27 Jul 2010
The Australian corporate regulator's latest foray into the area of disclosure has highlighted a growing tension within the financial services sector between the Corporations Act and the push for shorter...
27 Jul 2010
In an effort to continue to guide the nascent Islamic Finance industry, the Accounting and Auditing Organization for Islamic Financial Institutions recently promulgated 11 new standards…
27 Jul 2010
The SEC announced that it has reached a settlement agreement with Sunrise Senior Living and two former officers over charges of financial reporting fraud...
27 Jul 2010
In a strange wave of oil and smoke déjà vu to the Gulf of Mexico, China grapples with two man-made environmental disasters in less than two weeks: an oil spill in Dalian and a chemical leak near Zijinshan…
27 Jul 2010
After a sluggish 2009, the forecast for Canadian IPOs was supposed to have improved. Indeed, 2010 started out well. But when…
26 Jul 2010
In the latest bit of alchemy furthering the financial health of chemical makers, specialty chemical company Lubrizol Corporation recently whipped up a $500 million batch of credit with the help of…
26 Jul 2010
Dancing the M&A two-step is all the rage these days. And acquirers have a way of ensuring that they come out on top – via “top-up” options…
26 Jul 2010
In one of the most controversial UK IPOs this year, Ocado has plowed ahead with its initial public offering, despite criticism over its market valuation and its last minute revisions to…
26 Jul 2010
A recently announced $650 million acquisition of a TSX Venture-listed company serves as a good reminder that early stage or emerging companies are not necessarily small potatoes...
26 Jul 2010
Much of the US$55 billion in outbound investment, invested in the first half of 2010 by Chinese entities, can be credited to agile corporate counsel. Navigating through the maze of China’s outbound investment laws, these lawyers…
25 Jul 2010
The maturity of the Islamic finance industry will soon face another critical test, as defaults on $200 million sukuk don’t escape the notice of financial markets…
23 Jul 2010
The Term Asset-Backed Securities Loan Facility (TALF) never approached the lofty $200 million in loans that the Federal Reserve envisioned and now it’s getting even smaller…
23 Jul 2010
President Obama's sprint to sign the financial reform bill may be over, but the massive regulator marathon has only just begun. From the CFTC to the FSOC…
23 Jul 2010
BP is building up its war chest to confront the massive cash outlays it faces through a blockbuster deal to sell oil & gas properties in Egypt, Canada and the Permian Basin of Texas, to Apache Corp. for $ 7 billion...
23 Jul 2010
Diageo is turning to whiskey to drown its pension woes as it becomes the latest UK company to use asset-backed schemes to fund its pension deficit…
23 Jul 2010
Over-leverage in LBOs is proving to be a real sticking point yet again, this time amidst exits from Chapter 11. As the three-way dance between Extended Stay, the U.S. trustee and creditors have found...
23 Jul 2010
Faced with overwhelming telecom competition, M&A provides a welcome respite. In their corner of VOIP, YMax Corp. and Israel’s VocalTec Communications Ltd. are...
22 Jul 2010
Fresh on the heels of its recent $225 million backdating settlement, Israel’s Comverse Technologies continues to pique the interest of global investors…
22 Jul 2010
The oil and gas exploration and drilling industry faces a legal landscape being rapidly transformed by a yet-to-be determined number of lawsuits and several legislative proposals on the congressional fast track…
22 Jul 2010
After hearing about toxic assets on bank balance sheets for years, it is strangely refreshing to hear about insurance companies reshuffling their toxic liabilities…
22 Jul 2010
Global companies, take note of the Agricultural Bank of China’s neat ruse to improve the prospects of its recent Hong Kong IPO…
22 Jul 2010
Nortel and Genband, two companies headed in different directions, briefly crossed paths at a recent bankruptcy auction. Texas-based Genband has acquired Nortel’s carrier VOIP business – a big step en route to a rumoured 2011 IPO...
22 Jul 2010
For all the drama of high seas brigandage, many of the risks and costs go unpublicized. Wherever there’s insurance, litigation follows…
21 Jul 2010
Goldman might have settled with the SEC, but disclosure norms for synthetic CDOs are far from settled. The SEC’s $550 million settlement and consent with Goldman Sachs is trailblazing in more ways than one…
21 Jul 2010
The European Commission has approved a sweeping restructuring of Bank of Ireland, which will see the beleaguered bank dispose of a number of key assets in order to comply with EU rules on state aid…
21 Jul 2010
In the PRC’s highly regulated economy, listed companies and business not directly in the real estate sector can be intimately affected by regulatory changes such as those pertaining to zoning and land-use…
21 Jul 2010
Directors of public issuers are on the firing line. Investors and regulators are looking carefully into how directors are elected and whose interests they represent…
21 Jul 2010
U.S. and Chinese media companies have at least thing in common – no it’s not their love of kung fu movies. Companies on both sides of the Pacific are restructuring…
21 Jul 2010
Hong Kong's Securities and Futures Commission has announced plans to regulate credit rating agencies based in the city, in an effort to keep up with...
20 Jul 2010
Over-the-counter derivatives contracts are much in the news because of the new financial reform act, which will change who regulates derivative contracts, where these contracts can be...
20 Jul 2010
The initial public offering of China-based Ambow Education Holdings spotlights a notable sector blooming in the PRC: the increasingly lucrative industry of privatized education…
20 Jul 2010
Looking to juice itself through an unusual deal, Cott, Canada's national drinks-maker just acquired Cliffstar Corporation of New York for $500 million...
19 Jul 2010
Companies once crying poverty and filing for bankruptcy are quickly turning around and giving their stakeholders a payday, moving out of the poorhouse into the penthouse…
19 Jul 2010
Emboldened by Dodd-Frank and its enhanced authority, the SEC is now considering tackling the proxy system. In its just announced concept release, the...
19 Jul 2010
Perhaps surprisingly, even in this wizened post-BP age, ultra deepwater drilling is going on unabated, leveraging some of the same structures as BP/Transocean…
19 Jul 2010
India is gaining new corporate renown as, via acquisitions and exchanges, its companies migrate worldwide…
19 Jul 2010
In a July 14, 2010 joint press release, the Board of Governors of the Federal Reserve System, the FDIC, and other federal financial regulatory agencies issued a statement...
19 Jul 2010
The 2010 report card for Canadian public issuers is in, and while some have shown improvement, the class average is still pretty low...
19 Jul 2010
Distressed investor Wilbur Ross continues to build up his banking assets, while keeping Bank Holding Company Act (BHCA) restrictions in mind, to boot…
18 Jul 2010
In a move which signals Dubai’s recognition of fund management as a core business, the emirate has amended its regulatory regime to ease burdens on…
16 Jul 2010
Turner Construction Company has scored a deal with Madison Square Garden, LP to manage the transformation of the Madison Square Garden Arena and the...
16 Jul 2010
M&A is back in the spotlight after a lackluster 2008 and early 2009. This year, deals such as Aon's $4.9 billion merger with Hewitt Associates and...
16 Jul 2010
A recently enacted tax disclosure law from China is threatening to take the world by storm, even shaking public markets in the U.S., Hong Kong, Canada and Bermuda…
16 Jul 2010
A newly hatched Malaysian IPO demonstrates the lure of iconic American brands, yet in a decidedly un-American style offering...
16 Jul 2010
The Avon lady just picked out some new bling to add to her empire, which may be coming soon to a home near you...
16 Jul 2010
In a recent no action request, the SEC confirmed the registration exempt status of senior certificates issued by a mortgage trust established by the FDIC…
16 Jul 2010
Buy shares in a leading British company and you might be buying more than you bargained for, as emerging market deals come into play…
15 Jul 2010
The SEC and Goldman Sachs have reached a record $500 million settlement of charges related to insufficient and misleading disclosure. In the case of SEC v. Goldman Sachs and Fabrice Tourre, the Commission charged Goldman with...
15 Jul 2010
Though investors and regulators may be calling for greater sunlight in order to “disinfect” potential trouble-spots, some public issuers remain leery that too much exposure will result in a sunburn...
15 Jul 2010
A group of former Israeli Air Force fighter pilots has taken a dogfight to the boardroom as Israel’s Magal Security Systems braces for a potentially bruising proxy battle…
15 Jul 2010
REITs may reel from re-regulation of financial services, even while reform rings out across the land. Not all REITs are affected equally, however, exposing players like...
15 Jul 2010
While some China-based solar companies are infused with enthusiasm towards the PRC green sector, one company is treading carefully. NASDAQ-listed China Sunergy recently…
15 Jul 2010
In a deal which promises to turn the tap on UK building sector consolidation through M&A, Travis Perkins, one of the UK’s largest builders’ merchants…
15 Jul 2010
Pirate attacks globally declined by nearly a fifth in the first half of 2010 from the same period last year due to a strong naval presence in the Gulf of Aden…
14 Jul 2010
Before our very eyes, the SEC is transforming from a regulatory zero to a regulatory hero. After being widely criticized for dropping the ball on…
14 Jul 2010
Major pharmaceutical deals, like those involving Teva and Pfizer, are unfolding under the twin pressures of healthcare reform in the U.S. and downward price pressure on...
14 Jul 2010
When Magna International’s directors announced in May that shareholders would be given the opportunity to eliminate Magna’s dual class share capital structure...
14 Jul 2010
Summer is turning up the heat in the northern hemisphere. As travelers are packing their bags, legal counsel of PRC hospitality and travel companies have been…
14 Jul 2010
Gift basket retailer Harry & David recently amended its existing credit agreement, extending the maturity date and reducing the size of the facility…
13 Jul 2010
Under China’s Anti-Monopoly Law and the Filing Thresholds Regulations, the State Council has delegated to MOFCOM the right to investigate…
13 Jul 2010
Whilst stock market wobbles continue to disrupt the IPO plans of many, a few surprisingly risky companies have managed to get their equity issues off the ground recently…
12 Jul 2010
In a sudden blast from the past, details of the US$1 billion deal between China Unicom and Spain’s Telefonica last year have finally been disclosed. The subscription agreement...
12 Jul 2010
Intellectual property protections have been a hot button issue in Canada as of late, and businesses are taking note of recent copyright initiatives...
11 Jul 2010
Taking public companies private ascribes new meaning to the Latin maxim, e pluribus unum. Abu Dhabi’s publicly listed Aabar Investments PJSC has announced…
9 Jul 2010
The Securities and Exchange Commission is looking at reevaluating its requirements regarding corporate risk disclosure and also considering more sweeping recommendations on...
9 Jul 2010
Soaring fees lead to roaring fee fights, thanks to the insidious effects of the weak economy. Though still the exception, fees are the subject of courtroom focus in both...
9 Jul 2010
Lenovo-affiliate and tech giant AsiaInfo Holdings, Inc. just completed its merger with Linkage Technologies Holdings…
9 Jul 2010
China’s green energy sector may be conjuring up more images of green dollar bills than healthy fields of grass these days. The country’s presence as a major alternative energy mover...
9 Jul 2010
Human rights policies are an increasing shareholder demand. Honeywell, Motorola, DuPont and even Halliburton have put the matter to a shareholder vote...
8 Jul 2010
The race to flee “disreputable” Caribbean tax havens for “legit” European low tax jurisdictions is now on with two insurance companies fleeing from…
8 Jul 2010
Build America Bonds are turning out to be hot commodities, but in fact these investments may not be as much of a commodity as their traditional tax-exempt municipal brethren...
8 Jul 2010
The lending gap for startups and small companies is disappearing, at least for a lucky few. Since the financial crisis, smaller and riskier companies such as…
8 Jul 2010
In a recent insider trading decision, a U.S. federal court in Manhattan ruled against the SEC in its first ever insider trading case involving credit default swaps or CDS…
7 Jul 2010
In early November, 2009, the merger-control regulator of the People’s Republic of China, the Anti-Monopoly Bureau under the Ministry of Commerce, announced…
7 Jul 2010
Brazilian steel producer Gerdau S.A., looking to establish full control of its Canadian JV Gerdau Ameristeel, recently announced that it has…
6 Jul 2010
Clawbacks’ talons are sharpened by Dodd-Frank’s reforms, though in truth they were already ripping into executive wallets…
6 Jul 2010
The asset-backed commercial paper crisis of 2007-08 continues to have repercussions for Canada’s public issuers. And now, the CSA has proposed changes to…
6 Jul 2010
Green Dot Corp, an issuer of general purpose reloadable prepaid debit cards, or GPR cards, has amended its $150 million initial public offering of…
5 Jul 2010
Just when companies welcomed a sign that the SEC might be backing down on its backdating pursuit, the hammer of the plaintiffs’ bar has struck a blow for corporate transparency…
5 Jul 2010
Television is undergoing a virtual revolution in the UK, but it is a revolution that is leading to very real competition law issues. Regulators are picking up enforcement on…
5 Jul 2010
The clock is ticking for the switch-over of Canadian public issuers to IFRS. With just six months to go, a relatively innocuous filing by Capital Power Income…
2 Jul 2010
“Environmental outs” are a rising concern, thanks to BP. No unified response has yet emerged, however, to judge from the PE acquisition of Omni Energy and the just-completed Exxon/XTO Energy deal…
2 Jul 2010
Virgin Media has set the scene for possible share buy-backs, dividends or capital investments by putting itself in rude financial health with a…
2 Jul 2010
The cross-border tie-up of mega-hedge funds Man Group and GLG Partners has moved one step closer to completion. GLG Partners filed its preliminary merger proxy for…
2 Jul 2010
The deceptive quiet two weeks after the revaluation of the renminbi may continue on for some time. The renminbi, China's currency, which is also known as the yuan, was recently unpegged…
2 Jul 2010
The private equity gambit of asset-shifting continues to find opportunistic participants…
1 Jul 2010
A last minute $19 billion financial services tax and the passing of Senator Robert Byrd may be clouding the future of financial reform in the eyes of the media...
1 Jul 2010
Sovereign credit risk is an issue beyond the Eurozone – to wit, South African credit, post-World Cup, is causing a stir…
1 Jul 2010
SMART Technologies of Calgary is on the verge of one of the most highly anticipated Canadian tech IPOs in years…
1 Jul 2010
When the government both competes and regulates, the outcome of the competition should rarely be in doubt…