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  • Lovell White Durrant partner Robert Lee is leaving the firm's Tokyo practice in Tokyo to set up his own practice. He joined the firm from his Hong Kong practice, Robert Lee & Fong, two years ago, and had been working from Lovell's Tokyo office for the last year. Andrew Baker, resident partner, says: "He finds operating independently more attractive than working for a large firm. There is more freedom to do what you want to do."
  • The Brussels operation of Dallas-based Akin, Gump, Strauss, Hauer & Feld, LLP is under severe pressure after the loss of four lawyers. Name partner Marc Dassesse has left Akin, Gump, Strauss, Hauer, Feld & Dassesse to become a partner at the Brussels office of Washington-based McKenna & Cuneo. He will be joined by Akin Gump partner Anabelle Ewing and lawyers Jan van Besien and Isabelle d'Arthuys.
  • Ways of taking security interests are becoming increasingly sophisticated. Here is a guide, by James E Hogan, Aigoul Kenjebayeva, Gary Sullivan, Robert Starr and Karen Widess of Salans Hertzfeld & Heilbronn, Paris, Almaty and London
  • US broadcasting group Westinghouse Electric is to merge with Infinity Broadcasting in a $3.9 billion deal which requires the approval of the Federal Communications Commission. Infinity shareholders will receive 1.7 Westinghouse shares for each share held if the transaction is approved.
  • Beginning in October 1996, the electronic filing of securities documentation will become mandatory in Canada. Marguerite Mooney of Borden & Elliot, Toronto, reports on how market participants will benefit
  • Australia's third largest firm, Freehill Hollingdale & Page, has announced the closure of its London office from August 31. Resident partner Kevin Lewis says: "Australia is getting smaller and smaller vis-à-vis the rest of the world. Investors prefer newer markets such as South America or South-East Asia, where they get higher returns."
  • The advent of internet-based transactional systems challenges the traditional financial regulatory system. By Thomas Crocker of Shaw, Pittman, Potts & Trowbridge, Washington DC
  • As an alternative to bankruptcy, a Swedish business in financial trouble can enter into a composition (ackord) with its creditors. While seeking a composition, the debtor has nevertheless had no protection against its creditors. To solve this problem, new legislation (the Business Reconstruction Act, SFS 1996:764) has been enacted, effective from September 1 1996.
  • The Finnish Council of State has recently published a bill to implement the EU Directive on company law into the Finnish Companies Act. The bill also contains several amendments that fulfil specific Finnish concerns.