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Spain

The government is completing the preparation of a Finance Act, the pre-project for which envisages an in-depth reform of the legal regime governing the Spanish financial sector. One of the basic aims sought by the government with this Act, as deduced from sections of the pre-project, is to provide a solid base for the mechanisms that guarantee true protection to the investor. For this purpose, the pre-project attempts to promote the transparency of the markets and the control of insider information.

June 30 2001

In brief

Linklaters Swedish merger in sight

June 30 2001

White & Case acts on $2.2 billion US power benchmark

White & Case and Latham & Watkins have advised on the $2.2 billion financing of the two largest independent power projects in the US. Arthur Scavone, co-head of White & Case's worldwide energy, infrastructure and project finance practice, closed the $2.2 billion Teco/Panda power deal in June, following the firm's work for the joint venture of Panda Energy International and Teco Energy.

June 30 2001

Out with the old, in with the new in Asia

A number of firms in the Asia-Pacific region were making important strategic appointments last month as lawyers seek to optimize their positioning to take advantage of the active capital markets in the region.

June 30 2001

Regulators propose EU standard for alternative trading systems

The Forum of European Securitization Commissions (FESCO) has called for common European standards for alternative trading systems (ATSs). At present alternative systems are treated as full exchanges in some member states but not in others, which can lead to an inadequate supply of information to investors, the regulators have said.

June 30 2001

Argentina protects investors to boost securities market

The Argentine government has passed major legislation that it hopes will increase successful capital markets activity by offering greater investor protection and transparency. Javier Errecondo and Diego Salaverri of Bruchou, Fernández Madero, Lombardi & Mitrani, Buenos Aires, examine the new regime

June 30 2001

Realizing the value of holdings in US companies

Many shareholders in US companies face obstacles in reaping the benefits of transactions such as mergers which increase the value of their stock. Mark Bergman, head of the securities group at Paul, Weiss, Rifkind, Wharton & Garrison, examines the implications of the often restrictive US securities laws

June 30 2001

Cutting edge close-up: Inside the biggest German IPO of 2001: Deutsche Börse

Hendrik Haag of Hengeler Mueller, Frankfurt, and David Brownwood of Cravath, Swaine & Moore, London, explain the structure of Deutsche Börse’s marketing leading IPO

June 30 2001

New Zealand

The passing of the Commerce Amendment Act in May 2001 marked another step towards the harmonization of Australian and New Zealand business law. Proposed in 1999 by the previous National government and then modified by the present government, it is one of a series of changes in New Zealand competition law, which also includes specific regulatory regimes for parts of the electricity and telecommunications industries.

June 30 2001

BBLP Frankfurt loses M&A quartet to Weil Gotshal

BBLP Beiten Burkhardt Mittl & Wegener was hit in early May by the defection of its entire Frankfurt mergers and acquisitions (M&A) team and all but one of its five partners in the city to Weil, Gotshal & Manges. Led by the managing partner of the firm's Frankfurt office, Gerhard Schmidt, partners Heiner Drüke, Stephan Grauke and Uwe Hartmann are to move to the local office of the US firm leaving just one partner, the public notary Thilo Krause-Palfner, to hold the fort for BBLP in the city.

May 31 2001

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