Magazine - September 1999

In publication since 1982, IFLR has become the trusted source for in-house counsel and law firms specialising in financial law.

Cover Story

  • Legal certainty for securities held as collateral

    The EU’s Finality Directive is designed to provide greater legal certainty following the introduction of the euro. Richard Potok of Potok & Co, London, looks at the progress of the implementation of Article 9(2) of the Directive throughout the Union.

  • Singapore's reforms: too little, too late?

    The government of Singapore has issued a report calling for the partial opening of the legal market. Joint ventures and formal alliances may come to the city much sooner than anyone expected, but most firms, both local and international,are unhappy with the proposal. Rich Meyer reports from Singapore

Features

  • Whole business securitization comes of age

    The Tussauds securitization allowed venture capitalists to raise debt against the value of Tussaud Group's entire business rather than against specific receivables or assets.

  • When bad things happen to good projects

    Restructurings related to projects can prove especially complex

  • SEC allows expanded stock incentive plans

    The SEC has lifted its $5 million fixed limit on stock incentive plans for foreign companies with US operations. But as Michael Alcamo of Morgan, Lewis & Bockius, New York, explains, tougher disclosure requirements present new challenges

  • Bersani Decree opens Italian energy market

    Italy has paved the way for the liberalization of the electricity industry

  • Can China ensure stability of the renminbi

    The Chinese government's robust defence of the renminbi during the Asian financial crisis prevented devaluation.

  • Merger fever grips German market

    With Pünder, Volhard, Weber & Axster set to vote for its merger with Clifford Chance/Rogers & Wells this month, Nick Ferguson looks at the prospects for firms seduced by what the press has dubbed Fusionsfieber

  • Singapore's reforms: too little, too late?

    The government of Singapore has issued a report calling for the partial opening of the legal market. Joint ventures and formal alliances may come to the city much sooner than anyone expected, but most firms, both local and international,are unhappy with the proposal. Rich Meyer reports from Singapore

News analysis

  • Italy's Toffoletto to merge with Negri-Clementi, Montironi & Soci

    In a sign of further consolidation in the Italian market, Toffoletto has agreed to merge with Negri-Clementi, Montironi & Soci. Turin-based firm Ganna & Asociati will also join the new firm, to be called Negri Clementi, Toffoletto, Montironi & Soci. The firms signed agreements at the end of June but the merger will not be effective until January 1 2000

  • Wilde Sapte partner fights to leave firm

    Wilde Sapte asset finance partner Tom McDonald is set to appeal an arbitration decision forbidding him from leaving the firm before the end of 2000

  • Vinson & Elkins voted best energy law firm

    US firm Vinson & Elkins has topped a poll of law firms providing services to the energy industry

  • Methodology

    The aim of the research was to identify the best law firms providing services to the oil, gas and power sectors. The research project was completed in six months by teams in London and New York. The primary data for the research was collected through questionnaires asking respondents to rank law firms, financial institutions and accountancy firms across different functions in three areas (upstream, downstream and power) on a global basis

  • Singapore's joint venture partners revealed

    A Singapore lawyer has revealed four of the local practices he claims the government has chosen to be allowed to set up joint ventures with foreign firms.

  • Cutting Edge-Weil Gotshal advises Netia on $121 million IPO

    US firm Weil, Gotshal & Manges advised Polish telecommunications company Netia on its $121 million initial public offering (IPO) on the Nasdaq stock exchange. Netia is the first Polish company to list on Nasdaq and only the second eastern-European company to do so. US firm Latham & Watkins advised underwriters Donaldson, Lufkin & Jenrette.

  • World's first three-way international merger

    Nine firms advising on $21 billion Swiss/Canadian/French merger

  • $1 billion Madero oil project closes in Mexico

    Milbank, Tweed, Hadley & McCloy has been advising the consortium led by Deutsche Bank, which provided the $1.08 billion financing for the Madero oil refinery project in Mexico. The deal reached financial close in August.

  • Ashurst represents Deutsche Telekom in acquisition of One2One

    Ashurst Morris Crisp is advising Deutsche Telekom on the acquisition of the UK's fourth largest mobile telephone operator, One2One. The deal is worth £8.4 billion ($13.5 billion) comprising £6.9 billion in cash and £1.5 billion in assumed debt, the largest cash acquisition by a German company.

  • Linklaters counsel to Coca Cola on merger with Hellenic Bottling

    Coca Cola Beverages and Hellenic Bottlings announced on August 18 their intention to merge. The transaction is valued at £4.1 billion ($6.6 billion).

International briefings