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  • Davis & Company have become the first Canadian firm to open an office in Japan. The Tokyo office is the firm's first outside Canada. The office is staffed by two Canadian lawyers and there are plans to increase the number of lawyers to over 10, including Japanese lawyers (bengoshi), if the Japanese Bar Association removes restrictions (see International Financial Law Review, September 1997, page 27).
  • The big six have already made significant inroads into the French and Spanish legal markets, but so far the Portuguese have managed to keep them at bay, with some very stiff regulation. Nick Ferguson reports
  • Dr Peter Derendinger, general counsel at Credit Suisse Group, Zurich, talks to Paul Lee
  • In June 1997 the Danish Parliament adopted a new Act on Competition (No. 384), bringing Danish competition law into line with EU competition principles. The provisions of the new Act come into force on January 1 1998.
  • In 1996 the Mexican government organized an entity called Valuación y Ventas de Activos SA (VVA) for the purpose of organizing a series of sales of loans made by Mexican banks. The aggregate amount of the loans is said to exceed US$42 billion. The loans are held by Fondo Bancario para la Protección de Activos (FOBAPROA), a trust administered by Banco de México, the central bank.
  • UK firm Linklaters & Paines overtakes US rival Davis Polk & Wardwell to head this year’s ranking of the leading advisers on international equity issues. But other firms are catching up. Richard Forster and Robert Dwyer report
  • The US$944 million financing package for Osprey Maritime Limited of Singapore to purchase Gotaas-Larsen Shipping Corporation is the largest non-government ship finance transaction. It is also the largest US dollar syndicated loan provided by Singapore banks.
  • Chinese company Bengang Steel Plates was floated by an international placing of B shares on the Shenzhen Stock Exchange.
  • The London International Financial Futures and Options Exchange (Liffe) has bought a long leasehold interest in part of the 13-acre Spitalfields site, in London, to build a new trading building.
  • A consortium led by Tarmac has won a contract to design and construct a general NHS hospital. The contract, which includes the operation of the hospital's non-clinical services for at least 25 years, is worth £143 million (US$232 million). The deal is the first major private finance initiative (PFI) project in the British health sector.