Search results for

After High Court decision No. 14899/2000, the Italian Council of Ministers issued, on December 29 2000, Law Decree No. 394, on the subject of usurious loans. It aims to avoid the negative consequences that the Bank of Italy and the Italian Banking Association had anticipated would be produced by the Court's decision on the stability of the entire credit system.

The federal government recently passed the Financial Sector Legislation Amendment (No.1) Act (FSLA) which continues the government's financial sector reform agenda. It builds on the financial sector legislation already implemented by the government in response to the recommendations of the 1997 Financial System Inquiry.

A three-way merger in Europe could create the world's largest steel group. French company Usinor is merging with Luxembourg's Arbed and Aceralia in Spain to form an as yet unnnamed combined steemaker, which will be based in Luxembourg. The merger is expected to complete in autumn 2001. Aceralia shareholders will hold 20% of the company, while Arbed shareholders will control 23%. Usinor investors will hold the biggest share, with 57%. The company, which will list on Euronext, Luxembourg and Madrid, should be able to produce 46 million tons a year. It will have a market capitalization of $4.5 billion.

For the first time in five years Linklaters & Alliance has been toppled from its top spot on stand alone bond work. Its successor is the firm who has played the bridesmaid for so long – Allen & Overy. Ben Maiden reports on the surprise results of this year’s IFLR international bond survey

KPMG Consulting gave a much-needed shot in the arm to the Nasdaq market with its $2 billion initial public offering (IPO) in February. The issue was the biggest seen from a US company in almost a year. It was also the first time a big five accountancy firm's consultancy business had been floated.

Clifford Chance has advised Gulf Indonesia on its $9 billion gas deal with Singapore Power. Lawyers from the firm's oil and gas team in Singapore advised Gulf Indonesia and Santa Fe Energy Resources on the gas supply, transportation and sale arrangements between Pertamina, Indonesia's state-owned oil and gas company, and Singapore Power.

The Belgian voice recognition group Lernout & Hauspie Speech Products (L&H) has broken off its relationship with Belgian firm Loeff Claeys Verbeke. L&H has endured a crippling last 10 months. Accounting irregularities and a Securities Exchange Commission (SEC) investigation into fraudulent activity has seen the company's share price slump.

Corporations will have to endure mounting legal bills and poorer service unless the rules governing lawyers are changed, a US antitrust organization has warned.

Freehills is hiring Joe Longo, the chief enforcer for the Australian Securities and Investments Commission (ASIC), who will move to the firm's Sydney office as special counsel in May. Longo has coordinated action for the Commission on financial services and products, markets regulation, takeovers, managed investments and accounting issues. He has also worked closely with international regulators on enforcement activities.

The new Belgian Company Code, the law of January 23 2001, and the Royal Decree of January 30 2001 which sets out the details of various general provisions in the Company Code, all came into effect on February 6 2001.