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  • Judith Shepherd will leave Gibson Dunn & Crutcher to join Barclays Bank as deputy general counsel in September. Shepherd will lead the corporate and commercial team as well as the litigation and disputes, human resources legal and banking products teams. She will report directly to general counsel Jeremy Ogden.
  • Linklaters and Simpson Thacher & Bartlett were international counsel on a $300 million acquisition financing to purchase a controlling stake in Ssangyong Corporation. John Maxwell and Sanghoon Lee led the Linklaters team advising the borrower and acquirer Morgan Stanley Private Equity. The international lenders were advised by Simpson Thacher & Bartlett while the Korean lenders retained Lee & Ko. Separate teams at Kim and Chang provided Korean law advice to the sponsor and the international lenders.
  • On March 13 2005, the Romanian parliament enacted the long-expected Law 31/2006, regarding the securitization of receivables. The Law entered into force a month later, but it will be three months before the secondary legislation is enacted. Until then, a primer on the main provisions of the Law might be helpful for interested investors.
  • Appleby Spurling Hunter in Hong Kong boosted its ranks with the arrival of new partner Michael Barker and the promotion of Judy Lee and Leon Mao to counsel. Barker was previously head of the Asian restructuring and insolvency group at Freshfields Bruckhaus Deringer and specializes in banking, asset finance and restructuring advice.
  • Ben Maiden reports on how firms are structuring hybrid issues to cope with regulatory uncertainty
  • Many large Japanese companies are about to adopt takeover defences that are contrary to the interests of their shareholders. Nicholas Benes uses a hypothetical company, Yamato Aluminium, to illustrate their impact
  • M&A
    MTN buys into the Middle East Freshfields Bruckhaus Deringer and Dewey Ballentine took the lead roles when MTN, Africa's largest mobile telecommunications company, acquired Investcom for $5.5 billion.
  • The Financial Services Agency (the FSA) is considering revisions to the regulations concerning moneylenders, such as amendments to the Moneylending Business Law, to ensure greater borrower protection and more stringent regulation of moneylending activities.
  • The Fair Trade Commission of Korea (KFTC) has introduced a new bill to amend the Monopoly Regulation and Fair Trade Act (MRFTA) to promote the conversion of conglomerates into a holding company structure.
  • In 2004 Finland introduced new tax provisions on participation exemption for capital gains arising from the sale of shares held by a Finnish company, to ensure the international competitiveness of the Finnish tax system after similar developments in many other EU member states.