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Eversheds’ associated Bulgarian office in the capital Sofia is to have a full time English qualified lawyer based there. Until now the UK firm has been represented in the jurisdiction by local firm Georgiev Todorov & Co, which has 32 lawyers.

UK firm Denton Hall has opened an office in Almaty, Kazakhstan.

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.

The $920 million sale in November of a 15% stake in state telecoms company TPSA doubled the capitalization of the Warsaw exchange overnight and affirmed the new government’s commitment to privatization. Ben Maiden reports as lawyers compete for further deals in banking, airlines, oil and steel

As the Czech Republic concentrates on getting privatization right — at the second attempt — lawyers can look forward to a glut of banking and M&A work. Rob Mannix reports

The new regulations on securitization in Italy allow for more flexible structuring of deals. Raffaele Rizzi of Baker & McKenzie, London explains how to match the right structure to the securitized assets

On April 29 1999, the Securities and Exchange Commission (SEC) proposed once again rule amendments and a new proposed rule governing the custody of mutual fund assets outside the US. At the same time, it extended the date for complying with the amendments to the foreign custody rules until May 1 2000. The proposed new rule would govern the use of foreign securities depositories and in recognition that the previous standard of care was unworkable, the proposal drops the requirement that a fund’s board, adviser or domestic custodian find that fund assets will be subject to reasonable care if held by a foreign depository.

Latin America-Development plan approved by Congress

Europe-Increasing control on concentrations

Italy enacts new law on securitization