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  • 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
  • Brazil eases route for pre-export credits
    Pre-export credits are offered a beneficial tax rate in Brazil. The attractions are clear but rescheduling should be avoided. By Richard W Grice of Alston & Bird, Atlanta, and Ana Carolina de Salles Freire of Tozzini, Freire, Teixeira e Silva, São Paulo
    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
  • Chadbourne loses only UK projects solicitor
    Chadbourne & Parke has lost its only UK-qualified partner in its London project finance department. Martin Stewart-Smith has left the office after less than six months to join Cameron McKenna.
    January 01 1998
  • The parable of Clifford Chance
    "Where there is no vision people perish" quotes Clifford Chance's Vision of the Future from the Book of Proverbs. While one of their banking partners might be forgiven for not reading the good book, he clearly applied biblical zeal to his handling of relations with a UK financial services client, informing its in-house head that they would be more suited to another, mid-sized firm and even being so kind as to name an alternative.
    January 01 1998
  • Heard at the bar
    • Geoffrey Howe, managing partner of UK firm Clifford Chance, is stepping down later this year to take up his new position of general counsel at merchant bank Robert Fleming.
    January 01 1998
  • Gazprom wins US$3 billion loan
    Gazprom has arranged a US$3 billion loan to finance its investments in the Yamal pipeline project and to refinance a US$1.2 billion bridge loan. The eight-year facility will be secured against revenues from Gaz de France supply contracts.
    January 01 1998
  • Global responsibilities
    Joseph Polizzotto, Managing Director and Deputy General Counsel, Lehman Brothers, New York, talks to Richard Forster
    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
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