Latin America has endured more financial crises than any other part of the world in the past six decades. It's learned lessons important now for the euro zone, which is coping badly with financial wildfire, The Wall Street Journal reported in an analysis. Although the two regions have very different levels of wealth, there are important similarities. Financial woes in both regions skip from country to country via trade, finance and group psychology.

On the 20 October 2010, the Chancellor of the Exchequer, George Osborne, set out the Government's four year public spending plans in the Comprehensive Spending Review 2010 ("CSR 2010"). The CSR 2010 will significantly impact upon the previously understood mechanism of the CRC Energy Efficiency Scheme ("CRC"), with the key change that recycling payments will now be kept by the Treasury to support public finances instead of being recycled to participating organisations. Is this a stealth tax on businesses and is it fair? This article looks at the potential impact of the CSR 2010 on the CRC.

The Government provides generous tax relief to encourage individuals to take responsibility for retirement planning and to recognise that pensions are less flexible than other forms of saving. Saving through a pension scheme represents an attractive tax planning route for many high earners in the UK. Taxpayers are able to claim higher rate tax relief on all pension contributions to a registered pension scheme up to the annual limit for relief (i.e. £245,000 for the 2009/2010 tax year) provided that the total lifetime contributions do not exceed the pensions lifetime allowance (i.e.

Executive compensation arrangements and corporate governance have come under very close public scrutiny around the world in the wake of the global financial crisis. In the US, this has culminated in the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"), which was signed into law by President Obama on 21 July 2010. Dodd-Frank is primarily focussed on the regulation of banks and the financial services industry, but some of its provisions apply more generally to US listed companies.

Conflicting court decisions and divergent cross-border laws are leading to increasing uncertainty in cases affecting the financial markets.

By the Insolvency Law Amendment Act (“Insolvenzrechtsänderungsgesetz 2010, IRÄG 2010”), the Bankruptcy Act (“Konkursordnung”) has been amended fundamentally with regard to a better reorganisation of companies true to the slogan “saving instead of ruining”. It introduces uniform insolvency proceedings, which can be held as reorganisation proceedings (also with self-administration by the debtor) or bankruptcy proceedings. The new reorganisation plan (“Sanierungsplan”) replaces the composition proceeding (“Ausgleich”) and the former reorganisation proceeding (“Zwangsausgleich”).

“Wherever there’s a fire in the euro zone, the financial firefighters rush to the scene. That’s us,” jokes Oliver Welke, Germany’s version of Jon Stewart, an American comedian, The Economist reported. Although the IMF and European Union are acting as co-rescuers of Ireland and Greece, Germans see themselves as rescuers-in-chief—and they resent it. “Will we finally have to pay for all of Europe?” asked Bild, a tabloid. Other Europeans see Germany as an arsonist. Angela Merkel, the chancellor, has twice dithered, arguing about conditions for a rescue even as the flames took hold.

The scheme of arrangement for airline Aer Arann, and the process of getting it approved are the new standard, the airline’s examiner, Michael McAteer tells Padraic Ryan, InsolvencyJournal.ie reported. To hear Michael McAteer describe the scheme of arrangement for Galway-based airline Aer Arann, which exited examinership on Wednesday, it sounds, at first, quite straightforward. “The super-preferential creditors are now getting 100p in the pound, albeit over a phased period, the preferential creditors are 12.5p in the pound, and the unsecured creditors are getting 10p in the pound,” he says.

The Ministry of Justice recently drafted new legislation to amend the Insolvency Law.

The Ministry of Justice has issued a consultation paper on insolvency law reform. While many insolvency lawyers and academics have acclaimed the proposals, a significant number of insolvency administrators and judges have voiced their opposition to the paper.