Magazine - May 1997

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

Cover Story

  • Lloyd’s cases strain US securities law

    Four US appeal court rulings on Lloyd’s-related litigation have failed to resolve the issues. The conflict challenges part of the US securities law regime. By David Bernstein of Rogers & Wells, New York


  • How to issue subordinated debt under the new Tier 3 capital rules

    The Basle Committee’s Tier 3 capital rules enable banks to hold capital against market risks. Here is how US banks can take advantage. By Edward G Eisert, Isaac B Lustgarten and Lynn S Kaplan, Schulte Roth & Zabel LLP, New York

  • France removes Eurofranc restrictions

    Avoiding censure from the European Commission, France has dropped its restrictive practices on Eurofranc management and listings. By Gilles Endréo of Linklaters & Paines, Paris

  • Polish pledge law will free up debt capital

    The new law on pledges in Poland should give project finance and other asset-backed lenders the protection they have lacked in the past. By Tomasz Dabrowski and George Macdonald of Salans Hertzfeld & Heilbronn, Warsaw and London

  • Cedel wins SEC exemption to clear T-bills

    US government bonds are at last being integrated with other major government bonds and Eurobonds into the international clearing system. By Kathleen Tyson-Quah of KTQ Consulting, London, and Seth Weinberger of Mayer Brown & Platt, Chicago

  • Canada boosts access for foreign banks

    A new raft of financial services reforms opens the way for more competition from abroad, among other significant reforms. By Paul Belanger of Blake, Cassels & Graydon, Toronto

  • Amsterdam offers new growth market

    The Euro NM network of markets, offering a less demanding listing regime for young high-risk companies, has been extended to the Netherlands. By Pieter Riemer of Trenité Van Doorne, London

  • Argentina launches bill of credit regime

    The new Argentine financial instrument available from the middle of this month offers smaller companies a way to cut the credit risk burden. By Rodolfo Gerardo Papa of Cardenas, Cassagne & Asociados, Buenos Aires

  • Comment

    Howard M Liebman of Morgan, Lewis & Bockius, Brussels, believes that the Renault affair is evidence that European monetary union is premature

  • Seeking compliance

    Robert Mooney, general counsel and deputy chief administrative officer, Asia Pacific region, Merrill Lynch, talks to Richard Forster

  • Finnish firms look to restructure

    Despite the growing economy, Finland’s lawyers find there is not enough work to go round. Firms are being forced to refocus and reassess their business. Clare Hepburn reports

  • Swedish firms rise to the challenge

    The last 12 months have seen big changes in the Swedish legal market. Mid-sized firms in particular are taking strategic decisions to merge or make international links. Samantha Wigham reports

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