Search results for

Entry to the WTO means that China must take a hard look at the way it distinguishes between domestic and imported technology. Warren Rothman and Grace Chen of Paul Weiss Rifkind Wharton & Garrison, Beijing, reveal the unlevel playing field for foreign technology providers

Chiomenti loses four to Freshfields

Jones Day Reavis & Pogue has established a joint enterprise with Showa Law Office in Tokyo to strengthen its mergers and acquisitions, antitrust and IP practices.

In alleged response to an insider bid by 30% shareholder CAIH in the recent contest for control of Hurricane Hydrocarbons, the Hurricane board declared a special dividend payable by way of senior unsecured notes. A controversy arose because the notes contained a change-of-control provision that would be triggered by the acquisition of more than 50% of the Hurricane shares. Upon a change-of-control, the holders of the notes could elect to have the notes redeemed. The net effect was a potential cash depletion of $200 million from Hurricane's cash flow.

The arrival of the euro has far reaching implications in areas such as monetary obligations, legacy currency securities and share capital. Geoffrey Yeowart of Lovells, London, answers some of the key questions for those getting ready to change over

Judge Denis Davis, judge of the Cape High Court and a member of the Katz Commission on tax reform, has commented on the impact of the far-reaching changes to the Income Tax Act in recent years, suggesting that a pause is needed before the authorities address the three major areas still needing reform. All the changes in the past few years have had profound effects on tax legislation in South Africa, the main two being the change from the source to the residence based system and the introduction of capital gains tax (CGT). The tax system, according to Judge Davis, is now enormously complex, whereas the Commission had advocated as simple a system as possible.

Colombian banking laws are the main regulations applicable to local derivatives and financial operations. In addition, Colombian foreign exchange (FX) regulations, issued principally by the central bank, regulate cross-border derivative operations. The central bank has traditionally assumed and applied local banking regulations and interpretations issued by the Colombian banking superintendency to FX transactions entered into by financial institutions.

Australia has ventured furtively into the world of compulsory financial philanthropy. A new provision, s1013D of Australia's Corporations Act 2001, requires fund managers, superannuation funds and life insurance companies to disclose "the extent, if any, to which labour standards, environmental, social or ethical considerations are taken into account in the selection, retention, or realization of the investment".

In July the Securities and Futures Commission (SFC) issued a consultation paper intended to promote the protection of investors using exchange-traded funds (ETFs). This followed the pioneering launch in May of two Hong Kong ETFs relating to the Taiwan and Korea markets, and the anticipated future listing of other ETFs. The consultation paper's key recommendations include:

NautaDutilh is launching a securitzation practice in Europe's leading market. Joanne Kellermann has moved to London to spearhead the development of a practice that will extend the firm's offerings in the UK capital. At the same time she will expand the locally-based team to two partners.