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ISDA – to Net or not to Set-off

Decree-law 70/97 of April 3 (the Portuguese Netting Law) undoubtedly took the market by surprise. In 1997, when international banks were still trying to impose the ISDA documentation standard on locals (banks and institutional clients), Portugal became a

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Construction and PPP/PFI: market “contra legem”

Long-term concessions provide governments keen to deliver quality infrastructures with both public control and the private management of operations. The concession contract critically therefore defines the commercial and operational parameters of the project and regulates