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In its first Eurobond issue since 1982, the Republic of Sri Lanka is to issue US$50 million of floating rate notes. Lead managers to the issue are Citibank and ING Barings.

Allied Irish Banks (AIB) has acquired US bank holding company Dauphin Deposit Corporation for US$1.36 billion. The acquisition, made by Allied Irish Banks' US subsidiary First Maryland Bancorp, brings the banking group closer to its goal of owning a US bank with assets of more than US$20 billion.

The Life and Death of an Infrastructure Project, 2nd ed.

Kathleen Moriarty, partner with the New York office of US firm Orrick, Herrington & Sutcliffe, has joined the corporate group of Wall Street firm Carter, Ledyard & Milburn. Moriarty, who specializes in investment trusts and structured finance, earned the name 'Spider Woman' after advising the American Stock Exchange on the creation of an investment trust for the trading of SPDRs (Standard & Poor's Depositary Receipts). These securities can be traded all day on the stock exchange as shares in a unit trust. Before the launch of the SPDR Trust in 1993, investors could only trade their shares in index funds once at the end of each trading day. Moriarty, who has also structured several high-profile municipal bond issues for New York landmarks, joined Carter, Ledyard as a partner on March 17. "Kathleen is an important addition to the corporate practice because of her substantial knowledge of investment companies," says chairman of the group, Robert McTamaney.

UK firms have ambitious plans for US law capability and expansion. But they are facing competition from US, regional and big six-linked firms. Samantha Wigham reports

Perth firm Parker & Parker is to merge with the Perth office of Australian firm Freehill Hollingdale & Page. The merged firm will have 53 partners and 120 fee-earners, and will be known as Freehill Hollingdale & Page. The merger should take effect in May, and the firm will be based in Parker & Parker's offices in Perth. The addition of Parker & Parker's 86 lawyers will make Freehill Hollingdale Australia's largest law firm, with over 180 partners and 400 other lawyers in offices in Perth, Sydney, Melbourne, Brisbane and Canberra.

The Alliance of European Lawyers has added a Polish member, Consultor Limited, which has signed a cooperation agreement and will be known as Alliance Consultor. The French member of the six-firm Alliance, Jeantet & Associés, already has a Warsaw office, but there has been disagreement over its merger with Consultor and it is operating as a separate office despite the cooperation agreement. A Jeantet lawyer in one of the Alliance joint offices says: "It is a bit ridiculous but we all hope the merger will take place some time in May or June." There are practical reasons for the delay, according to Gérard Mazet, partner in Jeantet's Paris office. "Basically we have got problems with premises and with a few conflicts of interest and so for the time being they will remain separate."

Grimaldi & Clifford Chance has opened an office in Padua. This is the third office in Italy the firm has established since the association between Grimaldi e Associati and UK law firm Clifford Chance began in 1993. The office will initially have five lawyers led by two partners, Paolo Rulli and Gianandrea Rizzieri. Rulli has moved from the firm's Rome office and Rizzieri joins from local partnership Studio Rizzieri. Both specialize in corporate and international trade law, with Rizzieri providing experience in litigation and arbitration. Associates Federica Greggio and Susanna Rizzieri specialize in international transactions, contracts and litigation.

• UK firm Simmons & Simmons has appointed partner Huen Wong to the new role of China managing partner. This involves heading the Hong Kong and Shanghai offices and integrating them in preparation for the handover of Hong Kong to China at the end of June.

A decision of the Colombian Constitutional Court, issued in August 1996, has blocked the ratification of a bilateral investment treaty entered into by Colombia and the UK in 1994 and approved by the Colombian Congress in late 1995. With the failure of a recent government initiative to overturn the constitutional basis for the court's decision, it now appears that the treaty has been shelved indefinitely.