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UK firm Allen & Overy has announced the appointment of US lawyer David Slade as partner in its New York office. In a move designed to give the firm a dual US and UK capability in project finance work, Slade will be joined by dual-qualified partner Carl Sheldon who moves from the Frankfurt office.

Canadian firm Goodman Phillips & Vineberg opened a Vancouver office on September 9. The firm poached the managing partner for the office, Paul Goldman, from Canadian rival Lang Michener.

Incoporating the EU Second Banking Directive into Spanish national law, Law 3/1994 regulates the basic aspects of Financial Credit Establishments (Esteblacimientos Financieros de Crédito, or EFCs), which have been further developed by recently-approved regulations. As a result, certain Spanish credit institutions have until the end of the year to comply with the new requirements.

US firm White & Case has named Raj Pande, head of the firm's India Practice Group, partner. Pande will continue to be based in the firm's Singapore office. The firm has also made two lateral hires. Weerawong Chittmittrapap, a Thai securities and corporate lawyer, joins the Bangkok office as partner. He moves from his position as partner at Baker & McKenzie.

Dr Berthold Kusserow and Dr Eva Reudelhuber discuss how own funds requirements for banks and investment services firms in Germany will change when the draft sixth amendment to the German Banking Act comes into force in 1997

UK law firms Dibb Lupton Broomhead and Alsop Wilkinson merged on October 1 to form the UK's sixth largest firm and the world's eleventh largest (see page 16). The new firm, Dibb Lupton Alsop, will have 214 partners and a total of 734 fee earners, with a turnover in in the region of US$140 million. Both firms grew from strong regional bases, Dibb Lupton in Leeds and Alsop Wilkinson in Liverpool. Their London offices opened later but by merging they hope to build their City profile as well as develop an international presence. Alsop Wilkinson has offices in New York, Brussels and Hong Kong but Dibb Lupton did not have an office outside the UK.

Volker Potthoff, general counsel to the Deutsche Börse, Frankfurt, talks to Graham Field

UK group Imperial Tobacco is being demerged from UK conglomerate Hanson and will be floated on the London Stock Exchange. The company is expected to be accepted for the Official List from October 1 with a market capitalization of over £2 billion.

The controversial loi Toubon restricting the use of English in financial documentation produced by state entities in France has been amended following protests. By Gilles Endréo of Linklaters & Paines, Paris

Vietnam has reached agreement in principle with its creditor banks on the restructuring of its US$1 billion debt. The move should allow Vietnam to resume commercial borrowing in the international capital markets at more favourable interest rates.