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Susan Alker, Winston & Strawn James Stevens, Toutman Sanders Peter Birkness, McCarthy Tetrault Last month saw a balance of hiring activity on both US coasts. For COOLEY it was the Los Angeles office that was looking to expand, with a double addition to its corporate ranks from Sheppard Mullin. Both C Thomas Hopkins and Ian Smith joined the team, with Hopkins a particularly notable hire given his previous position as global head of corporate. Elsewhere in the City of Angels, VENABLE increased its corporate capacity with the addition of private equity partner Ronn Davids and corporate counsel Jennifer Cappelletty from Klee Tuchin Bogdanoff & Stern. Both lawyers focus on mid-market and emerging companies. WINSTON & STRAWN meanwhile enhanced its corporate finance team with the addition of Susan Alker from Reed Smith.

Who took home what from IFLR’s annual Asia awards

Oscar Arrús Over the past 10 years, infrastructure and public service projects in Peru have increased both in number and in size. These projects are mostly carried out through concessions: government contracts signed with private companies through which they are granted the right to operate such projects and receive the cash flows they generate. The start-up capital required to perform these contracts is usually provided by private investors, either through offerings in the securities market or syndicated loans provided by multilateral entities or private banks, and secured by the cash flow generated by such projects.

Iñigo Rubio Lasarte It seems that Spain may see a solution in the coming weeks to the nine Spanish highways that filed for insolvency within recent months. The Government is working on a plan to finally rescue the insolvent concessions, with the acceptance of the financial lenders. According to various government sources, the proposal consists of nationalising the insolvent concessions (AP-41, R-2, R-4, R-3 and R5, AP-36, Aucosta, Ciralsa, M-12 and Ausur) by contributing the equity of the concessions to a public company. After the Government takes control, it will agree on a restructuring of the debt with the financial lenders, including substantial write-offs. The plan will need the support of both the equity sponsors and the financial lenders, and it is here that a substantial discrepancy may appear between the Spanish and foreign lenders.

The Black Economic Empowerment (BEE) initiative may not be a legal requirement, but it is one of the most important business requirements for potential investors into South Africa today.

Chinese corporates have their eyes fixed on foreign targets. But this new phase of M&A comes with risks and challenges

Freddy Karyadi Oene Marseille The Government has recently issued several new Ministry of Finance (MoF) regulations (PMK) relating to general tax provisions, in order to improve the implementation of Government Regulation 74/2011 (PP-74), which is the main implementing regulation of the General Tax Provisions and Procedures Law (KUP Law). The MoF seems to want to streamline the prevailing regulations by putting as much content as possible in the PMKs to minimise the issuance of lower-ranked tax regulations. The tax audit is one of the new MoF regulations which will be discussed below.

What can the financial services industry expect from the new UK regulatory authorities?

Julieta Rodriguez Molina In this era of increased globalisation, the need for strategically located regional headquarters is paramount. Multinational companies are dividing their operations in homogeneous markets so as to allow them to more effectively address key differences between regions, which in turn allows for closer interaction with consumers, clients and stakeholders, which will ultimately help these companies to achieve sustainable long-term growth. Ideally situated in the middle of Latin America, the Republic of Panama offers the best environment for any multinational company establishing a regional headquarters. As of January 1 2012, 63 international companies have already established regional branches in Panama, including Samsung Electronics, LG, DHL, Dell, Hutchison Port Holding Group, HSBC, Maersk, Scotia Bank, Assicurazioni Generali, Tetrapack, PSA Peugeot Citroen, General Electric, Johnson and Johnson, Caterpillar, Procter & Gamble, Unilever and McDonalds.

In the latest twist to the Cœur Défense case, a Versailles court has recognised creditors’ rights. The counsel who pleaded the case explains the rulings