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Changes afoot in Italy

International firms are increasing their ambitions in Italy. At the same time, Italian firms are looking to expand abroad.

December 01 1996

Baker & McKenzie opens Japanese joint venture

International firm Baker & McKenzie opened an office in Japan on November 1. The firm previously operated in Tokyo through an association with Tokyo Aoyama Law Office, but the two have now formed a qualified joint venture.

December 01 1996

McKenna 'considers US merger offer'

Denton Hall has pulled out of the reported discussions between three London firms on a possible three-way merger. The two other firms, McKenna & Co and Cameron Markby Hewitt, are reported to be continuing their discussions, but other plans may intervene.

December 01 1996

Shearman wins English law capability; Milbank regroups

Milbank, Tweed, Hadley & McCloy has reacted strongly to the loss of the leading names in its English law practice to rival firm Shearman & Sterling. "We are out in the lateral hire market for partners, to help our English law capability," says managing partner and chairman Mel Immergut. Reiterating the firm's commitment to an English law practice, he says he is hopeful it will not take long to rebuild the practice: "The timing has been somewhat set back, but we are optimistic it is not by very much."

December 01 1996

Fed offers relief on acquisitions and nonbanking activities

Glass-Steagall has not been reformed. But the Federal Reserve's proposed reforms to Regulation Y and the rules for Section 20 companies could side-step the limits. By Robert Bostrom and George Seeberger of Winston & Strawn, New York

December 01 1996

Austrian lawyers wait for competition to arrive

For the first time, Austria's bar association rules are being called into question and competition is likely to arrive soon. Austrian firms are preparing for mergers to face that competition. By Samantha Wigham

December 01 1996

City Litigation

Limiting professional liability; Lending to local authorities; Disqualification of directors; Enforcing an assigned debtBy Neil Mirchandani, City Litigation Group, Lovell White Durrant, London

November 01 1996

Spain

Spanish tax law provides a significant obstacle to the implementation of Employee Share Participation Schemes (ESPSs), in that the transfer of shares to employees at no cost or at below-market prices is subject to taxation. Perhaps for this reason, such schemes have not become well developed in Spain.

November 01 1996

Heard at the bar

• US firm Milbank, Tweed, Hadley & McCloy has appointed partner Douglas Tanner as head of the firm's Hong Kong office. Tanner, who leaves the Los Angeles office to take up the post, specializes in international capital market transactions, acquisitions, joint ventures and investment in Asia. He also has experience in asset securitization transactions and derivative products. He replaces Glenn Gerstell, who returns to the Washington DC office.

November 01 1996

Dechert reinforces Brussels practice

US law firm Dechert Price & Rhoads has brought in four new lawyers to strengthen its Brussels office. International litigation and arbitration partner Melvin Schwarz has relocated from New York. "Our office has two divisions: the international division and the Belgian corporate and commercial practice," explains Brussels managing partner Richard Temko. "Melvin will be concentrating on litigation outside Belgium, in particular arbitration panels in London and Paris."

November 01 1996

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