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Since UK firm Allen & Overy announced the appointment of David Slade as a project finance partner in the New York office (see Insides, IFLRev, October), three other lawyers have joined Slade at Allen & Overy, effectively wiping out the Russian practice of US firm Milbank, Tweed, Hadley & McCloy.

Zhuhai Highway Co

Limiting professional liability; Lending to local authorities; Disqualification of directors; Enforcing an assigned debtBy Neil Mirchandani, City Litigation Group, Lovell White Durrant, London

Part II of the New Zealand Securities Amendment Act 1988 requires substantial security holders in a public issuer to disclose relevant interests, and changes in such interests, to the public issuer and any stock exchange on which the securities are listed. The disclosure regime was enacted to ensure that market participants know the identity of persons in a position to control a public issuer.

The Royal Trust Bank decision has left uncertainty as to how best to create a fixed charge over receivables. Chris Hanson and Geoffrey Yeowart of Lovell White Durrant, London, attempt to reconcile the cases

UK regional firm Pinsent Curtis has head-hunted a senior litigation partner from international firm Linklaters & Paines. Graeme Brister replaces Paul Downing as managing partner of the London office after Downing left to join Price Waterhouse last month. Says Christopher Styles, a litigation partner at Linklaters who has worked with Brister for 17 years: "To an outsider this move to a regional, domestic firm must look jolly odd. The key is that he wants to get out of the bigger jobs for international clients and move into management." It is said that Brister wanted to become managing partner at Linklaters, but Styles explains: "This is not sour grapes. He no longer wanted to spend so much time in practice."

US law firm Dechert Price & Rhoads has brought in four new lawyers to strengthen its Brussels office. International litigation and arbitration partner Melvin Schwarz has relocated from New York. "Our office has two divisions: the international division and the Belgian corporate and commercial practice," explains Brussels managing partner Richard Temko. "Melvin will be concentrating on litigation outside Belgium, in particular arbitration panels in London and Paris."

The UK government has agreed to sell the Married Quarters Estate of the Armed Forces to the Annington Group for £1.6 billion (US$2.5 billion). The transaction, one of the largest ever UK conveyancing deals, requires the sale of 2400 properties to Annington and a sale and leaseback of 55,000 properties under 999-year head leases.

Alongside implementing the ISD and CAD, Finland has made a number of other changes to its securities law. By Tomas Lindholm and Tarja Wist of Roschier-Holmberg & Waselius, Helsinki

US firm Milbank, Tweed, Hadley & McCloy has revamped its Asian practice after the departure of project finance partner Glenn Gerstell to the Washington office.