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  • Filion, Wakely & Thorup, Toronto
  • Economic reform is beginning to reach into the Argentine provincial governments. Esteban A Mancuso of White & Case, New York, discusses ways the provinces could solve their financing difficulties
  • The Revised Securities Act (RSA) Full Disclosure Rules (the Rules) became effective on October 7 1996. The Rules establish an integrated disclosure system for registration statements (RS) and other reports which must be filed with the Philippine Securities and Exchange Commission (SEC) and distributed to the investing public.
  • In August a government committee published its report on the proposed reorganization of Finnish government financing institutions.
  • International independent power producer Calenergy failed in its US$1.92 billion bid for regional electricity and gas supplier New York State Electric and Gas Corp.
  • Coudert Brothers has announced it is to incorporate Montreal firm McDougall, Caron into its international network. The move into Canada is rare for an international US law firm and is the first US foray into Quebec. The firm has opened new offices in Berlin, St Petersburg and Denver in the last two years.
  • Audit reports are a common source of information for investors. Many rely on the balance sheet and the audit report to assess a corporation's worth. Some investors go as far as considering an audit a reliable guide to a corporation's financial health. With this kind of expectation, litigation against auditors after an unsuccessful investment is not uncommon.
  • Cyprus has attracted offshore enterprises from almost 100 countries, and in the past few years Europe has been the main source of new company registrations. In the first half of 1997, 79.2% of the registrations originated from Europe, 12.9% from America, 5.5% from Asia, 1.7% from Africa and 0.7% from Australia.
  • To carry out proper due diligence as required by Colombian law, the following general guidelines on corporate duties, government permits, labour matters and taxation should be followed.
  • Partnership Property Management, a consortium led by Goldman Sachs, was chosen to take over the UK Department of Social Security's 700 properties. This deal, known as Project Prime, is the largest Private Finance Initiative transaction to date with a total value of £4 billion (US$6 billion)