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  • Judith Lawless of McCann FitzGerald, Dublin, looks at the new rules governing netting and credit derivatives in Ireland
  • Debevoise & Plimpton is the latest US firm to gain at the expense of the SEC. Kenneth Berman, associate director of the SEC's Investment Management division, will join Debevoise's Washington practice as partner in August after 12 years with the commission.
  • US firms Orrick, Herrington & Sutcliffe and LeBoeuf, Lamb, Greene & MacRae have hired partners to expand their public finance and banking practices respectively.
  • UBS, the Swiss financial group and world's largest private bank, is buying PaineWebber, the fourth largest private client bank in the US, for $10.8 billion. The deal gives UBS access to PaineWebber's $475 billion worth of client assets.
  • Antitrust regulations in Colombia
  • Leanne Tilbrook and Helen Anderson of Freshfields, London, report on new EU regulations governing insolvency proceedings and their implications for creditors
  • Baker & McKenzie is to become the first large foreign firm to open in Guadalajara, Mexico's second largest city. The firm's fifth office in the country and 61st world-wide will have five lawyers. Edmundo Elias-Fernandez will take charge, working closely with the firm's 120 local lawyers.
  • Hong Kong's new economy is driven along by old money. This suits lawyers just fine, of course, because it means that established old economy clients can drag them effortlessly into new economy work.
  • Standard Chartered is completing its acquisition of the Middle Eastern and South Asian operations of Grindlays, a bank within the Australia and New Zealand Banking Group (ANZ). The value of the deal is expected to hit $1.34 billion.
  • Late June and early July saw a flurry of equity issues closing as bankers, lawyers and corporate chiefs alike tried to clear their desks before a well-earned summer reprieve. Among the offerings for those picking up investments before picking up the suntan lotion were two technology flotations - Zen Research and Orchestream – which took place in London under Chapter 25 of the listing rules of the UK Listing Authority. Allen & Overy, was involved in both through its relationship with UBS Warburg.