Derivatives specialist Louise McCoach has authored the 2021 Australia chapter of the ‘International Comparative Legal Guide - Derivatives 2021’, which summarises the laws and regulations of derivatives in Australia. The chapter covers documentation and formalities, credit support, regulatory issues, insolvency/bankruptcy, close-out netting, taxation and bespoke jurisdictional matters and market trends in the Australian derivates market.

Reverse cross border mergers could become a popular device for UK companies seeking to maintain and preserve “passporting” or other EU rights.

The mechanism of a reverse cross-border merger (in this context whereby a UK parent company merges with their continental European subsidiary) has not historically been permitted under English law. However the provisions of an EU directive implemented in the UK in 2007 changed that position giving UK company groups that option.

On 13th August 2013, the US Department of Justice (DOJ) and attorneys general from six US states and the District of Columbia filed suit in the US District Court for the District of Columbia to block the merger between US Airways and American Airlines. Days before, a group of American Airlines customers filed a claim that the merger would violate Section 7 of the Clayton Act.

The UK Supreme Court, which is the UK's highest court, has handed down its long-awaited decision in Belmont Park Investments Pty Limited v BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc [2011] UKSC 38, in which the Court considered the validity and enforceability of so-called "flip" clauses under English bankruptcy law.