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Finland

On December 13 2001 the Finnish government submitted a bill to parliament concerning a number of amendments to be made to the Interest Act. The amendments would, in particular, change the provisions governing penalty interest on overdue payments.

January 01 2002

Italy

Law Decree No 351 of September 25 2001, as converted with amendments into Law No 419 of November 23, on the privatization of real estate assets owned by the state and by other public entities, including local authorities and regions, contains a major change in Article 2 relating to the securitization of proceeds arising from the divestment of assets.

January 01 2002

SEC report urges changes to fair disclosure rules

The US securities regulator must consider revising key parts of the year-old fair disclosure regime, according to one of its own most senior figures. A report on the impact of Regulation Fair Disclosure by Laura Unger, a commissioner at the Securities and Exchange Commission (SEC), is calling for further clarity on the controversial rule.

January 01 2002

Clifford Chance, Wong to rekindle joint venture

Lawyers in Singapore have revealed that Clifford Chance and Wong Partnership are to revive their joint venture, which collapsed in 2000.

January 01 2002

Deutsche Bank questions Russia banking reforms

Deutsche Bank's Moscow head has cast doubt on legal and administrative moves to reform Russia's ailing banking system. Speaking at a conference on the Russian banking sector in London early last month, Hubert Panzda, the chief executive of the bank in Russia, questioned whether plans to make Russian banks more competitive and transparent could be carried out in an increasingly uncertain economic climate.

January 01 2002

In brief

LeBoeuf loses London head to US rival

January 01 2002

The future for foreign IPOs in China

The first IPO by a foreign company in China may be just around the corner. Stefanie Tetz, Amy Lo and Ralph Koppitz of Clifford Chance explain how closer cooperation between the regulators and increased clarity of the rules could open the door to a new equity market

January 01 2002

Why Australian law threatens airline financiers

The events of September 11 have shown how a law passed two years ago could expose the owners, operators and financiers of airlines flying in Australia to unlimited liability. Nicholas Creed and Justin Mereine of Mallesons Stephen Jaques explain the risks they face

January 01 2002

Limiting auditors' liability on insolvencies

Auditors are often made the scapegoat when companies go bust, and with little protection from the UK courts sometimes end up having to settle expensive claims. As Arrabella Giles of Clifford Chance, London, explains however, a recent decision in the Barings case will limit auditors’ liabilities

January 01 2002

Shearman posts top partner to Asia

Whitney Pidot and former Shearman & Sterling partner, US ambassador to China Clark Randt In a move unprecedented among US firms, Shearman & Sterling has relocated its global managing partner to Asia. Whitney Pidot, who is also a member of the four-man executive committee, has stepped down from the top job to become managing partner for Asia in a move that has left even his New York colleagues surprised.

December 01 2001

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