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  • By Enrique Sanz and Patricia Manca of Landwell Abogados y Asesores, Madrid
  • By Carlos Costa Andrade of Vasconcelos, F. Sá Carneiro, Fontes & Associados, Lisbon
  • A report prepared by Fernando Vives of Garrigues & Andersen, Madrid
  • By Carlos de Sousa e Brito and Filipe Falcao Oliveira of Carlos de Sousa e Brito & Associados, Lisbon.
  • By Duarte Abecasis and Francisco Santos Costa of Luiz Gomez & Associados, Lisbon
  • By Ronnie Price of Portugese Chamber of Commerce, London
  • Japanese lawyers are opposed to the outcome of a government-commissioned legal report, which recommends partnerships with foreign firms for the sake of the economy. The Corporate Legal System Study Group, set up under the Japanese Ministry of International Trade and Industry, has identified areas for legal services reform. Highlighting the globalization of the economy, the report said: "The current judicial system is incapable of adequately supporting the activities of enterprises."
  • US financial institutions fear they will be exposed to more lawsuits following the adoption of new disclosure rules by the Securities and Exchange Commission (SEC).
  • Although the privatization process began in Turkey in the early 1980s, it has accelerated recently as a result of the IMF and World Bank-sponsored economic reform program. Within the framework of this program, a decree (the decree) was enacted in July to start the privatization of Türkiye Vakiflar Bankasi (Vakif Bank). This privatization is the first step in what is expected to be a radical restructuring of the public banks in Turkey.
  • The German government has been quick to respond to Vodafone’s ground-breaking hostile bid for Mannesmann. In June, it introduced proposals to regulate takeovers for the first time. Hartmut Krause of Allen & Overy, Frankfurt, explains the proposed rules