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"The interests of the commercial community will be best served if banks are able to take and operate a fixed charge on the basis of Siebe Gorman"

Commissioner Laura Unger, who this October announced plans to leave the US Securities and Exchange Commission (SEC) by the end of 2001, says she is prepared to stay on until new commissioners are appointed.

Since gaining independence, Ukraine’s court system has struggled to modernize against the obstacles of old Soviet procedures and structures. Vladimir Zakhvataev of Salans Hertzfeld & Heilbronn, Kiev, explains the radical reforms introduced this summer

In the aftermath of the terrorist attacks in the US, "know your customer" has taken on greater importance for banks. On September 26 the Hong Kong Monetary Authority (HKMA) issued 2 circulars to banks on this topic in reaction to the US President's Executive Order of September 24 aimed at freezing the assets of named terrorist organizations and stopping financial support for terrorists. The circulars predate the Basle Committee's guidance on customer due diligence for banks of October 4. While acknowledging the Order's extra-territorial basis, the HKMA again stressed the importance of banks in Hong Kong cooperating in international efforts against terrorist activities and not becoming involved (even innocently or accidentally) in facilitating such activities.

The most recent developments at SAir Group and Switzerland's flag carrier SAirLines (Swissair) merit a short outline of the formal proceedings regarding moratorium and composition agreement under Swiss Debt Collection and Insolvency Law. The following three steps are to be distinguished:

Davis Polk puts JP Morgan loan in the picture

Russia has been riding a wave of economic progress as a new government, rising oil prices and legal reforms lead the way. But, as Thomas Williams reports from Moscow, there’s plenty to be done before everyone feels comfortable

Houston, Texas energy trading company Enron's $1.9 billion sale of utility Portland General Electric to Northwest Natural Gas this October provided a welcome slice of acquisition work for three firms.

Clifford Chance is advising the borrowers on the largest water project in the world. Stephen Harder, a project finance partner in the firm's Hong Kong office, is leading a team of lawyers in China and Hong Kong advising Anglian Water and Mitsubishi on a $200 million project financing to design, build and operate the largest water project in the global water market. The Beijing No 10 water treatment plant will supply drinking water to one in five residents of the Chinese capital.

Hunton & Williams is to advise the Philippine authorities on the long-awaited privatization of the country's electricity industry.