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European Investment Bank reshuffles legal group

The European Investment Bank (EIB) has split its legal department into three parts as the institution looks to improve its internal coordination. The move comes as Eberhard Uhlmann, general counsel of the EIB's legal affairs directorate, assumes added responsibilities after also being appointed as secretary general of the bank.

August 31 2002

Clifford Chance sidesteps French privatization law to complete €1.9 billion deal

Clifford Chance has advised France Telecom on the latest part of its disposal programme, which has seen the company selling its transmission tower business Télédiffusion de France (TDF) to a private equity consortium for €1.9 billion ($1.8 billion). Ashurst Morris Crisp advised the consortium, which consists of Charterhouse Development Capital, CDC Ixis Equity Capital and Caisse des Dépôts, the French bank. Clifford Chance advised France Telecom and White & Case and Linklaters advised the banks.

August 31 2002

Do stock options have a future?

Henry Morgenbesser, Marina Casani and Felicity Gemson of Allen & Overy report on the American companies rethinking their policy on options for staff

August 31 2002

Why lawyers should not become corporate watchdogs

Ira Schacter and Alexandra Scheibe of Cadwalader, Wickersham & Taft explain how the Act could damage the relationship between lawyers and their clients

August 31 2002

Freshfields boosts Deutsche Bank ties with double securitization mandate

Freshfields Bruckhaus Deringer has advised Deutsche Bank on two securitizations, building on the firm's relationship with the bank for structured finance work in Europe. The first of the two deals, for the Buhrmann Group, was one of the few structures so far to securitize trade receivables originated by different subsidiaries in different jurisdictions, financing them using both commercial paper and medium-term funding.

August 31 2002

Minter Ellison helps scoop $14 billion Chinese gas mandate

Minter Ellison is advising the Australian-led consortium that has won a contract worth up to $14 billion to supply liquefied natural gas to the Guangdong LNG Project in southern China. The decision to award the contract to the North West Shelf Venture – which comprises Woodside Energy, BHP Billiton, BP, ChevronTexaco, Shell and Japan Australia LNG – creates Australia's largest-ever single export deal.

August 31 2002

China

The State Development Planning Commission issued the Provisional Regulations on Administration of Foreign Investment in the Rare Earth Industry on August 1 2002. According to this regulation, foreign-invested rare earth projects are divided into three main categories, that is, rare earth mining, rare earth smelting and separation, and rare earth deep processing and application.

August 31 2002

The Market Abuse Directive: too much, too soon?

Europe has set an ambitious timetable to combat Market Abuse. IFLR invited five financial specialists to discuss EU plans so far

August 31 2002

Setting global standards for cross-border insolvency

Jay Lawrence Westbrook of the University of Texas School of Law considers the merits of three initiatives to deal with international workouts

August 31 2002

Japan

The Securities Settlement System Reform Law will come into effect in Japan in early January 2003. The object of the law is to provide a uniform, safe and efficient book-entry settlement system for certain corporate, government, municipal and foreign bonds, commercial paper and beneficial interests. Shares, warrants and convertible bonds are outside the scope of the new system. A unified settlement system for all securities remains a goal for the future.

August 31 2002

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