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Denmark

In 1992, the Faroe Islands, controlled by Denmark under a home rule arrangement, were hit by financial problems. At the time, Den Danske Bank owned the majority shareholding of Føroya Bank, a major Faroe Islands Bank.

February 01 1998

Mexico

The Zedillo administration continues to privatize the nation's most valued sectors, making1998 a promising year for international investors. Privatizations in 1996 and 1997, particularly in telecommunications (satellites, PCS auctions and long distance telephone competition) and transport (railways and ports), indicate Mexico's commitment to the long-term economic development model. Privatizations in 1998 will involve permits or concessions in natural gas, airports and telecommunications.

February 01 1998

Swedish firm loses rainmaker

Swedish firm Hellström & Partners, Stockholm, announced on January 12 it is excluding star finance partner Peter Sederowsky from the firm. The announcement comes after Sederowsky, who has joined rival firm Setterwalls, announced in his own letters that Hellström & Partners was to cease operating.

February 01 1998

Montreal firms merge to bolster position

Montreal firms McMaster Meighen and Mackenzie Gervais are to merge in March 1998. The merged firm will be called McMaster Gervais and will be one of Montreal's biggest, with about 100 lawyers.

February 01 1998

Latham & Watkins opens in Singapore

US firm Latham & Watkins has established an office in Singapore. US qualified lawyer Joe Bevash moves from Hong Kong to head the office, which will initially be staffed by five lawyers. The office, which opened on December 16, will specialize in project finance.

January 01 1998

White & Case links with Brussels boutique

James Hurlock, White & Case: "Similar arguments [in favour of mergers] would apply in other European countries. We are considering our options and other firms have approached us"

January 01 1998

Canadian firms prepare for foreign invasion

Coudert Brothers and Ernst & Young have recently entered the Canadian legal market. Most Canadian lawyers expect other US law firms or professional services firms to follow their example, and are reviewing their position. Paul Lee reports

January 01 1998

France boosts securitization market

An October Decree removes many of the disadvantages of France's FCCs as securitization vehicles. The reform should boost the French and the European securitization markets. By Richard Parolai and Jonathan Lewis of Clifford Chance, Paris

January 01 1998

European Union

The Commissioner responsible for the single market, Mario Monti, put forward a revised draft of the proposal for a 13th Company Law Directive on conduct during takeover bids. The new draft takes on most of the concerns of the European Parliament, the Economic and Social Committee and other interested parties. It entitles employees of target companies to be informed once a bid is made public and to receive a copy of the offer document.

January 01 1998

Uruguay

Until the early 90s, Uruguay's capital markets looked modest. Most securities traded were public instruments issued by the Central Bank; and not many companies quoted their stock on the Montevideo Stock Exchange, the one stock exchange in place.

January 01 1998

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