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Many shareholders in US companies face obstacles in reaping the benefits of transactions such as mergers which increase the value of their stock. Mark Bergman, head of the securities group at Paul, Weiss, Rifkind, Wharton & Garrison, examines the implications of the often restrictive US securities laws

The Vietnam and Singapore offices of Freshfields Bruckhaus Deringer are advising French waste and water management group Suez Lyonnaise des Eaux on the construction of a water treatment plant in Ho Chi Minh City. The deal is nearing completion following four years of work.

BBLP Beiten Burkhardt Mittl & Wegener was hit in early May by the defection of its entire Frankfurt mergers and acquisitions (M&A) team and all but one of its five partners in the city to Weil, Gotshal & Manges. Led by the managing partner of the firm's Frankfurt office, Gerhard Schmidt, partners Heiner Drüke, Stephan Grauke and Uwe Hartmann are to move to the local office of the US firm leaving just one partner, the public notary Thilo Krause-Palfner, to hold the fort for BBLP in the city.

UK firm Lovells has boosted its corporate and finance practices in London, Frankfurt and Paris by poaching five partners from the European offices of rival US and UK firms.

Mexico's congress amended a securities bill increasing in May, minority rights for shareholders and increasing disclosure levels, which it hopes will spur the growth of the country's capital markets.

Many senior Canadian issuers access the Canadian capital markets through the shelf prospectus system, which allows an issuer which meets certain criteria to issue securities over a two-year period. A shelf prospectus is filed qualifying the total amount of securities which the issuer expects to issue over a two-year period and the issuer then issues securities in tranches depending on market conditions and its needs.

Increase in market activity

The Limited Liability Partnerships Act 2001 came into force on April 6 2001, enabling limited liability partnerships (LLPs) to be incorporated from that date. These partnerships have many of the characteristics of limited liability companies and adopt some of the principles of partnership law. This article discusses some of the important distinctions between LLPs and: (i) limited partnerships under the Limited Partnerships Act 1907; and (ii) limited liability companies incorporated under the Companies Act 1985.

On March 29 2001, the Swiss Federal Banking Commission (FBC) decided to establish specific minimum standards for the account opening and monitoring of exclusively internet-based banks and securities traders. These standards are intended to assure the quality of client identification and monitoring at internet-based banks until the revised provisions of the agreement on the Swiss Banks' Code of Conduct with regard to the exercise of due diligence (CDB 98) are presented. The specific minimal standards apply by way of a supplement to the already existing provisions concerning account opening and monitoring, which continue to be fully applicable.

The Turkish parliament passed a new law amending the law of the Turkish Central Bank on April 25. This Law is designed to free the Turkish Central Bank from political influence and authorizes it to streamline monetary policy as a completely autonomous body.