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  • Recommendations to increase scrutiny of verification and risk assurance practices on securitisation deals will meet opposition from practitioners, and could lead to big increases in deal costs
  • Deacons Australia has bolstered its restructuring capacity with a new hire from Clifford Chance. Troy Doyle joins the firm to focus on distressed investments in Australia. Previously, Doyle headed Clifford Chance’s south-east Asian restructuring practice.
  • O’Melveny & Myers has hired a new finance partner to join the firm’s Singapore team. Joel Hogarth joins the firm from White & Case where he specialised in finance and restructuring. Hogarth has particular experience on Indonesian and other south-east Asian work.
  • 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.
  • Chadbourne & Parke has hired Alper Deniz to be a partner in its bankruptcy and financial restructuring practice in London.
  • 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.
  • 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