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At a time when the UK economy needs every trick in the book to stay healthy, a weakened securitization market would be a serious blow. In this month’s IFLR, Ian Field and Jennifer Marshall of Allen & Overy, London, argue that just such a blow could be about to land. The proposed UK law on insolvency will, they say, create confusion over the right of secured creditors in structured finance issues to appoint a receiver. Without this, such deals would become almost impossible

Baker Botts has advised Dominion on the $2.3 billion cash, stock and assumed debt acquisition of Louis Dreyfus Natural Gas.

Linklaters advised Guoco Group on a general offer to repurchase 10% to 25% of its share capital by way of a modified Dutch auction. The deal was announced on September 10 and is scheduled for completion by the end of November. The value could be as much as HK$5.46 billion ($700 million). The deal is the largest general offer to repurchase shares (in terms of value) ever announced in Hong Kong. It followed the structure that Linklaters had earlier established for the HK$4.12 billion share repurchase by The Hong Kong and China Gas Company in June 2001.

Franco Vigliano

Cleary Gottlieb Steen & Hamilton and Clifford Chance have secured euro 4.5 billion ($4.1 billion) worth of funding for two deals in one of the biggest business acquisitions in Germany.

Shearman & Sterling has finalized the $440 million financing of a third international passenger terminal at Manila's Ninoy Aquino International Airport.

"The terrorists went after Wall Street, so why not use Wall Street to go after them?"

Credit Suisse First Boston (CSFB) has appointed Gary Lynch, a partner at Davis Polk & Wardwell and former head of the SEC's enforcement division, as its new global general counsel.

Milbank Tweed Hadley & McCloy has represented the lenders on the $262.5 million financing of the Salalah privatization and power project in Oman.

Sidley Austin Brown & Wood has closed two mortgage-backed deals totalling $3.4 billion. The US firm's London office advised Morgan Stanley & Co International (MSIL) on three UK and Irish deals and is on the brink of closing another deal for UK bank Northern Rock.