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Winston Maxwell examines the European Commission's objections to France's new foreign investment decree

Linklaters added to its new Dubai office with the hire of Jordanian lawyer Luma Saqqaf, who will become the firm's head of Islamic finance in the Middle East, and Mark Craig, a senior projects lawyer. Saqqaf joined Linklaters from Allen & Overy in Dubai, where she focused on transactional banking with an emphasis on Islamic finance products such as sukuks (she advised on the Emirates International sukuk) and Sharia-compliant derivatives transactions. Craig was formerly a senior associate in Clifford Chance's projects team in Dubai. Linklaters' Dubai office will initially comprise three partners and over 10 other fee earners, advising on capital markets, project finance, banking, Islamic finance and M&A.

Paul Hastings announced a further expansion of its corporate finance practice, with three new hires. The firm lured leveraged finance specialists Brett King and Susan Thom from Milbank Tweed Hadley & McCloy to join as partner and senior associate respectively. King and Thom have worked on leveraged buyouts in Hong Kong, Singapore, Japan and Korea. David Grimm, previously with Cravath Swain & Moore, was appointed of counsel. Grimm has 15 years of experience in cross-border capital markets, corporate finance and M&A transactions spanning London, New York and Hong Kong.

For the last 50 years, dispute resolution in Albania has been handled by the judicial system. However, the uncertainty of the process and its expensive and time-consuming character, combined with the country's aim for international integration, has made it necessary to establish a clear legislative framework to enable disputes to be resolved through alternative dispute resolution (ADR), that is, mediation and arbitration.

Some features of HCFB's securitization are unique and innovative not only for Russia but also in the international capital markets context. Vladimir Dragunov describes how the deal was structured

Dorsey & Whitney and Chadbourne & Parke were lead counsel on one of the largest ethanol projects to come to market. Financing on the $423 million ASAlliances Biofuels project closed in February, marking the first time that commercial banks have syndicated on an ethanol deal. Financing for the project was provided by a combination of bank loans, private equity and subordinated debt. The deal will involve greenfield construction of ethanol production facilities in Ohio, Nebraska and Indiana. Dorsey & Whitney advised the project company through partners David Swanson, Robert Hensley and Mike Pignato. Chadbourne & Parke acted for WestLB, the lead arranger and agent to the syndicate of 17 senior lenders. Washington DC partner Rohit Chaudhry led for the firm. Patton Boggs and Moore & Van Allen acted for American Capital Strategies and Laminar Direct Capital respectively, each of which were among the firms providing private equity and subordinated debt to the project.

British Virgin Islands (BVI) corporate law has now reached the halfway point in the two-year transition from a dual statutory regime to a single statutory regime. It was possible in 2005 to incorporate a company under the International Business Companies Act (the IBC Act) or under the BVI Business Companies Act 2004 (the new Act), but in 2006 it will only be possible to incorporate companies under the new Act.

James Doyle and David Hudd set out some basic tips on documenting synthetic collateralized debt obligations and the potential legal issues that can arise during the structuring process

IFLR is pleased to announce the short-listed deals and law firms for the Asia, Americas and European awards. Presentations will be made at the annual IFLR Awards Dinners in London, New York and Hong Kong in March.

Regulators in the US are facing a predictably mixed response to their most recent proposed rule changes. Planned reforms affecting deregistration and soft-dollar commissions attempt to frame simple rules in areas of some complexity. Neither set of proposals is beyond criticism. But the new rules bring welcome clarity for those they affect.