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  • Hungary
    Europe-Valuation of non-cash contributions in Hungarian companies
    May 31 1999
  • Local hires the key to success in Hungary
    With the biggest privatizations over, international law firms in Hungary can no longer rely on highly profitable deals which require western legal know-how. As the market matures, the emphasis is on local law expertise. Rob Mannix reports
    May 31 1999
  • Lehman unit to buy Blount International
    The merchant bank unit of Lehman Brothers Holdings is to buy Blount International, a manufacturer of tree-harvesting machinery, for $1.4 billion in cash and assumed debt.
    May 31 1999
  • China unveils unified contract law
    China’s new contract law is a historic piece of legislation for investors and their counsel as China builds towards a market economy. Lam Wing Wo of Deacons Graham & James, Hong Kong examines the regulations which come into force in October
    May 31 1999
  • Sweden’s first junk bond
    US firm Simpson Thacher & Bartlett advised Lehman Brothers and Morgan Stanley on Sweden’s first ever high-yield bond issue.
    May 31 1999
  • Renault and Nissan in $5.4 billion merger
    France’s Renault and Japan’s Nissan are combining to create the world’s fourth largest car maker. Renault is taking a 36.8% stake in Nissan Motor, and a 22.5% stake in Nissan Diesel, the company’s truck division. All funds will have been transferred by the end of May. The new company will produce five million vehicles per year.
    May 31 1999
  • Advisers on Canada’s Mutual Life $1.9 billion demutualization
    The demutualization of Mutual Life of Canada, the first by a Canadian life insurance company, is likely to give the company an initial value of between C$1.9 billion and C$2.9 billion ($1.2 billion to $1.9 billion). Mutual’s 900,000 members vote on the plans to demutualize on June 10. Their windfalls will be in the form of either cash or shares. Any bonuses are contingent on two-thirds of members voting in favour of the plans.
    May 31 1999
  • Inside-Fifty three per cent of UK firms
    Over 50% of UK law firms would consider forming a multi-disciplinary partnership (MDP) in the next five years. Accountants are the preferred partners, followed by barristers’ chambers.
    May 31 1999
  • Inside-Pillsbury hits rough waters
    Pillsbury Madison & Sutro, a San Francisco firm, has lost its executive director, a substantial group of compensation and benefits lawyers, and has had to fire another nine partners.
    May 31 1999
  • Inside-New Cairo office bolsters Trowers’
    UK firm Trowers & Hamlins has opened an office in Cairo. The creation of the new office will allow Trowers to develop its role as a Middle Eastern regional counsel for multinational corporations.
    May 31 1999
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