The Wall Street Journal reports that Russia has taken another step closer to defaulting on its sovereign debts after an industry watchdog overseeing the credit-default swaps market ruled Wednesday that Russia failed to meet its obligations to foreign bondholders when it paid them in rubles earlier this month.  While Russia has continued to deny reports

US mortgage rates hit 5% this week for the first time in more than a decade, continuing a rapid ascent since the start of 2022.  According to The Wall Street Journal, interest on the average 30-year fixed-rate mortgage climbed from 4.72% a week ago to its highest level since early 2011.  Now, bankers and

Mayer Brown partners Dr. Thomas S. T. So and Vivien S. K. Yip and registered foreign lawyer Evan Zhou recently published an article for Mayer Brown’s Perspectives & Events portal on a new cooperation arrangement for mutual recognition of and assistance to cross-border corporate insolvency and debt restructuring proceedings between Mainland China and Hong Kong.