PLC Global Finance: Country Q&A tool

This tool enables you to view the Global Finance Country Q&A Guides to the Financial Crisis by question and jurisdiction. Simply select the questions and the jurisdictions that you are interested in and click the "submit" button.

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Financial markets

1. When and in what way did the financial crisis start to have an impact in your jurisdiction?
 
2. What action, if any has the government taken in response to the financial crisis?
 
3. What have been, or are likely to be, the consequences of any government intervention?
 
4. What impact has the crisis had on corporate loans?
 
5. What issues arise if a bank is declared bankrupt?
 
6. What impact has the crisis had on capital markets?
 
7. What impact has the crisis had on credit default swaps and the market in other derivatives?
 
8. What are the regulatory implications of the financial crisis for financial institutions?
 

Restructuring and insolvency

9. What steps should a company take if a major customer or supplier is in financial difficulty?
 
10. What are the restructuring options for companies in financial difficulty?
 
11. What steps should a company take when entering into a new customer or supplier agreement to protect against the risk of the customer or supplier having financial difficulty?
 
12. What special considerations apply in relation to a company's dealings with:
  • A company already in financial difficulty?

  • The person responsible for winding-up an insolvent company’s affairs?

 
13. Please give examples of recent cases of companies buying back their own debt or stock.
 

Dispute resolution

14. What types of dispute are likely to arise as a result of the financial crisis?
 
15. Please provide examples of any major litigation that has already arisen.
 

Acquisition finance and private equity

16. What impact has the crisis had on private equity in your jurisdiction?
 
17. What impact has the crisis had on mergers and acquisitions (M&A) activity on your jurisdiction?
 
18. Do any special considerations apply when buying the assets of a distressed company?
 
19. Have any new restrictions been imposed on foreign ownership or investment?
 
20. Do any special competition/anti-trust considerations apply to distressed deals? Does the relevant authority have power to waive competition/anti-trust requirements in appropriate circumstances ( if so, please give details)?
 
21. Have the tax authorities introduced any incentives to encourage M&A activity (for example, permitting losses to be carried forward following a change of ownership)?
 

Directors' duties and liabilities

22. What legal issues should directors of a company in financial difficulty consider?
 
23. What other corporate governance issues should banks and companies now take into account?
 
24. Have any restrictions been, or are any likely to be, imposed on executive remuneration?