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  • Uruguay
    On June 3 1997, as part of a comprehensive effort to encourage the development of the securities market, the Uruguayan Central Bank (BCU) issued Circular No. 1,549 implementing the Investment Funds Act passed by Congress on September 17 1996.
    August 31 1997
  • United States
    A major federal appeal court in the US has ruled that Hong Kong is not a foreign state for the purposes of deciding whether a Hong Kong company is entitled to sue an American firm in US courts. Because Hong Kong is not considered a state, a company organized under Hong Kong law lacks the ability to sue in US courts on the basis of diversity or 'alienage' jurisdiction.
    August 31 1997
  • Colombia
    To carry out proper due diligence as required by Colombian law, the following general guidelines on corporate duties, government permits, labour matters and taxation should be followed.
    August 31 1997
  • Burlington Resources and Louisiana Land combine
    Burlington Resources and Louisiana Land and Exploration have combined. The deal is valued at US$3 billion. The combined company will be one of the leading independent energy exploration and production companies worldwide.
    August 31 1997
  • Project Prime completed
    Partnership Property Management, a consortium led by Goldman Sachs, was chosen to take over the UK Department of Social Security's 700 properties. This deal, known as Project Prime, is the largest Private Finance Initiative transaction to date with a total value of £4 billion (US$6 billion)
    August 31 1997
  • JP Morgan to purchase 45% of American Century
    JP Morgan, the fifth largest US bank by tier one capital, is buying 45% of American Century in a deal valued at US$900 million. American Century is the fourth largest US manager of no-load mutual funds (funds whose shares are sold without commission or sales charges).
    August 31 1997
  • Bruckhaus Westrick Stegemann closes in Japan
    German firm Bruckhaus Westrick Stegemann has announced the closure of its Tokyo office. The office had been staffed by a single German lawyer since it opened in 1990.
    August 31 1997
  • Talking points
    International Bar Association
    August 31 1997
  • What attracts and keeps laterals
    The most important consideration for a laterally hired partner in choosing his or her new firm is not the level of compensation he or she will receive. Indeed, this consideration is placed fifth out of seven significant factors according to a survey by US lawyer search consultants Major, Hagen & Africa.
    August 31 1997
  • Heard at the bar
    • Nancy Wodka, a project finance specialist, has moved from the Washington office of New York's Skadden, Arps, Slate, Meagher & Flom to the Washington office of Houston-based Bracewell & Patterson LLP. She will head the firm's team on international infrastructure projects .
    August 31 1997
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