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  • US firm McDermott Will & Emery has recruited Theodore Goddard's head of tax to its London office.
  • US firm Shearman & Sterling has attracted leading London securitization partner Marke Raines from City firm Allen & Overy.
  • International firm Salans Hertzfeld & Heilbronn has added to its employment department in its London office.
  • President of the International Bar Association (IBA), Klaus Böhlhoff, has requested further information from General Musharaf and the Pakistani authorities, on the removal of Justice Siddiqui as the country's Chief Justice. Böhlhoff would also like an explanation on the suspension of several Supreme Court judges, as well as why the judges of Pakistan must now take an oath of allegiance to the President.
  • Name partners Christopher Tite and Mark Lewis have resigned from Arnheim Tite & Lewis, the UK correspondent law firm of Big Five professional services firm PricewaterhouseCoopers (PwC). They have moved to big five rival Ernst & Young to help establish its legal arm.
  • By resisting the advances of the international legal networks Spanish firms hope to forge a global role of their own. Ben Maiden reports
  • At the end of 1999, the Swiss Federal Supreme Court had to decide whether parallel imports were legal under the Swiss Patent Act. Kodak SA, a Swiss company, is the exclusive distributor for Kodak products in Switzerland. It fought parallel imports of certain Kodak products arguing that these products where protected by patents. The Commercial Court of Zurich rejected Kodak SA's claim (see our report in IFLR, August 1999). But the Federal Supreme Court held that since the Swiss Patent Act did not expressly allow parallel imports the exclusive rights of patent owners had to be favoured over free trade. This decision received wide press coverage and was much criticised. It is interpreted as protecting the interests of the Swiss pharmaceutical industry which has managed - due to its patents - to maintain a price level for their products in Switzerland higher than in most countries of the EU. In the meantime, members of Swiss Parliament have announced that they will push for an amendment to the Swiss Patent Act allowing for parallel imports of patented goods.
  • From January 1 2000 the supervisory authorities for almost all financial, securities and insurance laws of the Netherlands were given authority to impose both fines and cease and desist orders reinforced by monetary penalties, thereby greatly increasing their powers of enforcement. Until now the supervisory authorities' most important means of enforcement was to ask the public prosecutor to start a criminal investigation into the alleged offence, which only rarely led to a prosecution or conviction.
  • Article 113, paragraph 3 of Legislative Decree No 58 of February 24 1998 (Legislative Decree No 58) expressly contemplates that a prospectus drafted in line with EU directives and approved by the competent authority of another member state is recognized by Consob for being admitted to tradings on a regulated Italian market subject to the following of the modalities to be implemented by Consob through specific regulations.
  • In November 1998 the Finnish Ministry of Justice appointed a working group to provide a comprehensive assessment of the need to amend the Finnish Companies Act and other legislation applicable to limited liability companies as well as to propose a procedure for the implementation of amendments.