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Despite having one of the most securitization-friendly legal regimes in Asia, Hong Kong’s originators have not yet embraced the technique. Patrick Lines of Freshfields Bruckhaus Deringer in Hong Kong reviews the development of the market and the possibilities for growth

On July 18 2001 Hong Kong’s telecoms regulator published the information memorandum and auction rules that will govern the auction of four 3G licences. Applications to participate in the auction must be submitted on September 17 or 18 2001. Vivianne Jabbour, Gabriela Kennedy and John Hartley, of Lovells’ Hong Kong office, consider some of the most important issues raised by the rules

The Australian government has taken an active and progressive view on financial legislation, this year introducing a series of significant reforms. Don Harding of Freehills, Sydney, assesses the new Corporations Act and the progress being made towards reform of financial services provision

Following a series of crises in the country’s banking sector, and various attempts at reform, the Turkish government has at last made significant amendments to its banking law. Mehmet Irmak Canevi and Halide Çetinkaya of Derman Ortak Avukat Bürosu, Istanbul, examine the changes and ask if the government has finally got things right?

Fixed or floating? When examining a charge over a company’s uncollected book debts it is sometimes hard to say, but in June the UK Privy Council gave a new and helpful opinion in Brumark. Justin Bickle of Cadwalader, Wickersham & Taft, London, examines the case and its implications

Troubled German microchip-maker Infineon last month called in technology-focused Brobeck Hale & Dorr and Clifford Chance for a $1.4 billion secondary share offering in difficult market conditions. Infineon made the share offering in Germany and the US and through private placements to international institutional investors elsewhere on July 3. The 60 million share secondary offering in the US and Germany was priced at euro 25 ($21) a share.

Alain Gauvin of Coudert Brothers, Paris, reviews the Peregrine/Robinson ruling and argues that market quotations are not sufficient when settling payments in such cases

Linklaters in Brazilian joint venture

BBLP, Europe's continental alliance of European law firms, was in danger of breaking up last month after a further four partners resigned from the group's German member firm Beiten Burkhart Mittel & Wegener (BBMW). Coming barely a month after the defection of all but one of the firm's Frankfurt-based partners, the resignations have forced BBMW to accelerate its search for a UK partner and plug the gap in the alliance's European coverage. Mergers and acquisitions partner Christian von Sydow has been moved from the firm's Munich office to Frankfurt. BBMW is reported to be in merger negotiations with the UK firm Simmons & Simmons, but both Simmons and BBMW have so far refused to comment. However, Martin Aman, managing partner of BBLP's Swiss member firm Meyer Lustenberger, said in July that his firm had been informed of merger talks between the German and UK firms, although he refused to comment further.

By Sharad D Abhyanker, partner and Nikhilesh N Panchal, senior solicitor associate, of Little & Co