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  • 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.
  • Cormac Kissane of Brown & Wood in London explains the structure of KBC Bank's innovative CLO transaction and looks at the consequences for the European market
  • Amendments to Polish energy law
  • The new French Electricity Act
  • Mid-July saw the largest Turkish initial public offering (IPO) to date with Turkcell's floatation on the New York and Istanbul exchanges. The 11% stake in the company released in the IPO raised a total of $1.7 billion, valuing the company at approximately $16 billion.
  • 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.
  • They say you can have too much of a good thing, but you won't find the law firms that have become part of Deutsche Telekom's gang of advisers complaining. With three multi-billion dollar flotations behind them and a world-beating bond issue just completed, you can bet they are very happy indeed. And there is more to come.
  • The Moscow telecom group Mobile TeleSystems (MTS) has become the first Russian company to launch an initial public offering (IPO) and secure a New York Stock Exchange listing since Russia's financial downturn in 1998. MTS launched $307 million worth of American Depositary Shares, with Deutsche Bank London and ING Barings the global coordinators and joint bookrunners. Lead managers were Credit Suisse First Boston, JP Morgan Securities, Renaissance Capital and Schroder Salomon Smith Barney.
  • Leanne Tilbrook and Helen Anderson of Freshfields, London, report on new EU regulations governing insolvency proceedings and their implications for creditors
  • Tony Williams, worldwide managing partner of Andersen Legal responds to the recent American Bar Association (ABA) vote blocking multi-disciplinary practices in the US and says it is time for a new perspective