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  • Cravath Swaine & Moore and Simpson Thacher & Bartlett are advising on the world's largest corporate deal.
  • Saudia Arabia’s growing demand for energy may soon force the country to open its doors to foreign investment.
  • Over 500 companies are proposed to be offered for privatization in Iran’s Third Economic Development Plan and the doors are being opened to foreign investment.
  • Marne et Champagne, the second largest producer of champagne, is to raise euro396 million ($393 million) through a bond issue secured on more than 60 million bottles of champagne.
  • Salomon Smith Barney of the US, a subsidiary of Citigroup, is buying the investment banking group of the UK's Schroders for £1.35 billion ($2.23 billion).
  • Big five firm Arthur Andersen has announced that it has hired former Clifford Chance managing partner Tony Williams in an attempt to compete with top international law firms.
  • During the economic crisis of 1997, Korea promised to open its legal market to international competition, but the extent of liberalization is still undecided. Koreans want little change, as slow as possible. US firms seem unconcerned. But UK firms have been lobbying hard for an open market. Rob Mannix reports
  • Tax Disparity - Liasing Opportunities By Dr Felix Klinger and Angelika Folich of Ernst & Young, Frankfurt
  • Winston & Strawn has hired two new partners for its New York office.
  • Jonathan Pickworth of Dibb Lupton Alsop, London, considers a recent decision of the Commercial Court which limits the circumstances in which a market counter-party can recover losses incurred on a hedging contract.