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  • Kirkland & Ellis is set to open an office in Shanghai in November. The new office was approved on July 30 by the Ministry of Justice and will focus on international private equity transactions. The Shanghai team will be led by Xiaoyang Li and Chuan Li who will relocate from Hong Kong.
  • To help troubled companies raise money, the Hong Kong stock exchange is set to streamline rights issues and open offers by reducing the notice period for book closure
  • Dechert has advised New World Resources, a European hard coal producer, on a €141 million nine-year loan facility guaranteed by Euler Hermes, the export credit agency for Germany.
  • Schoenherr has represented the Government of Montenegro on its sale of an 18% stake in state energy company Elektroprivreda Crne Gore Ad Niksic (EPCG) to Italian utility A2A. A2A paid €192 million for the stake, or €8.40 per share. Half will be acquired from the Montenegrin government, and the other half will be underwritten through a capital increase reserved for the company.
  • Chadbourne & Parke has hired Alper Deniz to be a partner in its bankruptcy and financial restructuring practice in London.
  • Nominations for the IFLR Middle East awards 2009 have been announced, and Allen & Overy and Clifford Chance are leading the field
  • The nominations for this year’s IFLR Middle East awards have been announced
  • Foreign investors in China can breathe a sign of relief. If their company gets into trouble, they will be treated equally with Chinese creditors
  • Gide Loyrette Nouel has relocated Jacques Bernard de Servigny to its Ho Chi Minh City office to lead the firm’s Vietnam practice. De Servigny was previously in charge of the Budapest office. Samantha Campbell also joins the firm’s Ho Chi Minh City team after joining Gide from Sullivan & Cromwell in London.
  • Muhammad Uteem of Uteem Chambers explains why Mauritius is an increasingly attractive location in which to structure Islamic products