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The Singapore joint law venture between Lovells and Lee & Lee, approved by the attorney general in August 2000, took effect on March 1. The joint venture is structured as a limited company with six directors each from Lovells and Lee & Lee. An executive committee has responsibility for day-to-day management. The joint venture comprises 17 partners and 32 other lawyers all based in Singapore, covering corporate and commercial law, banking, project finance, intellectual property and information technology, as well as business reconstruction, debt rescheduling and insolvency.

Slaughter and May will lose its most senior securitization partner this month, as part of a series of wider practice head appointments at the UK firm. Securitization specialist Rupert Beaumont is to retire from the firm at the end of April, leaving Christopher Smith as the most senior partner in the group and coordinator of the capital markets effort at the UK firm.

Observers believe that new legislation in Ukraine will help give the country’s banking system progressive, international standards to adhere to. Myron Rabij of Salans Hertzfeld & Heilbronn, Kiev, assesses the reforms

"We know what the weather market wants"

Ian Garth McGill and Tom Poulton Allen Allen & Helmsley and Arthur Robinson & Hedderwicks have agreed to merge. After a 15-year courtship the two firms have finally agreed to formalise its relationship.

The referral of powers from states to the federal government is a necessary prelude to the enactment of Australia’s corporations legislation. Don Harding, a partner of Freehills in Sydney, explains how the Corporations (Commonwealth Powers) Bill 2001 of New South Wales provides a model for juggling constitutional concerns

Once completed, the planned shake up of Turkey’s electricity industry should provide a wealth of opportunties for foreign investors. In the meantime, however, there is likely to be a degree of uncertainty. Kristin Meikle, Chadbourne & Parke, and Begum Durukan with the Birsel Law Offices, look at the prospects for the next few years

The Polish government, when implementing the "Principles of Operation of the Energy Market in Poland in 2000 and Subsequent Years", which determes the agenda of actions to be taken towards liberalizing and privatizing Poland's energy sector, organized the creation of the Polish Power Exchange. Its founding act was signed in November 1999 and the first market transactions were concluded in June 2000.

The European Company Statute (ECS) continues its tortuous progress towards implementation. On December 20 2000, political agreement was reached by the EU's Council of Ministers to establish the Statute, and on the related Directive concerning worker involvement in European companies. However, the question remains as to whether the compromise reached, which is still to be endorsed by the European Parliament, will in practice be palatable to countries such as the UK with less of a tradition of worker involvement, than other countries.

In December 2000, Kazakhstan took another major step to reform its financial sector by adopting a modern insurance law. In a region where the concept of insurance and the need for it are still widely misunderstood, Kazakhstan's Law on Insurance Activity aims to create the type of domestic insurance industry that is necessary for any market economy to function smoothly.