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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

House of Lords upholds charge-backs over deposits

Pragmatism has prevailed at last. The UK's House of Lords has rejected Charge Card and acknowledged the reality of charge-backs under English law. By Geoffrey Yeowart of Lovell White Durrant, London

January 01 1998

Finland

In July 1997 a special one man taskforce was appointed by the Ministry of Finance to prepare a proposal for the reorganization of the supervision of Finland's financial and insurance markets. Particular attention was to be paid to the integration and technical development of the financial and insurance markets.

January 01 1998

Austria

The Insolvency Law Reform Act 1997 (1997 Act) contains amendments to Austrian corporate law, including statutory provisions to strengthen the supervisory board's control function in joint stock corporations (AG) and in limited liability companies (GmbH). The following reforms should more effectively prevent corporate insolvencies:

January 01 1998

Gazprom in strategic alliance with Shell

Gazprom and Shell have signed an alliance agreement to cooperate on the development of energy projects worldwide. The joint energy group will produce around 500,000 barrels a day of oil and gas condensates. As part of the alliance Shell will commit up to US$1 billion in a convertible bond to be issued by Gazprom.

January 01 1998

Singapore

The relaxation of the law that prohibits companies from buying back their own shares is now under review by the Registry of Companies.

January 01 1998

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