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  • Britannia buys £1.1 billion Citibank mortgage book
    The UK's Britannia Building Society has bought a £1.1 billion (US$1.8 billion) mortgage book from Citibank International. The book consists of about 30,000 residential mortgages in the UK. On the same day, Britannia issued £100 million step-up subordinated notes under its MTN programme.
    January 01 1997
  • Book review
    Transnational Tort Litigation
    January 01 1997
  • European law firm cooperation
    Belgian firm Liedekerke Wolters Waelbroeck & Kirkpatrick, France's Siméon & Associés and Wessing Berenberg-Gossler Zimmerman Lange of Germany have entered into a cooperation agreement. The firms will establish a European Economic Interest Grouping, called the Conference of European Lawyers. This will form the basis of future cooperation in all fields of law.
    January 01 1997
  • Asian specialist back in London
    Clifford Chance partner Tim Soutar is returning to London from Hong Kong to bolster the firm's Asian capability in London. He will also assist with the coordination of the firm's global projects group, headed by Rodney Short.
    January 01 1997
  • Chinese citizen Herbert Smith partner
    Jeremy Xiao, who in August became the first Chinese citizen to qualify as a Hong Kong solicitor, will become a partner in the Hong Kong office of UK firm Herbert Smith.
    January 01 1997
  • Canadian firm opens in Singapore
    Toronto-based Goodman Phillips & Vineberg has launched its third office in Asia, opening in Singapore in December. Goodman Phillips has had an office in Hong Kong for some 25 years and is the only Canadian firm with an office in Beijing.
    January 01 1997
  • Foreign influence pushes German lawyers into new mergers
    The new presence of foreign law firms aggressively staking out territory in Germany is putting pressure on local firms. A second wave of mergers seems to be beginning. Samantha Wigham reports
    January 01 1997
  • Asian litigation
    It has generally been the practice of the Inland Revenue of Hong Kong to disallow payments made on the closure of a business as being non-deductible expenses for the purpose of a profits tax computation. The Hong Kong Court of Appeal recently examined this practice in the context of severance (ie redundancy) payments in The Commissioner of Inland Revenue v Cosmotron Manufacturing (Civil Appeal No. 75 of 1996).
    January 01 1997
  • Hong Kong
    The Law Reform Commission has announced a plan that will give financially distressed companies the chance of avoiding insolvency proceedings by providing the company with a court-sanctioned moratorium from creditors while a provisional supervisor takes control of the company to restructure its debt.
    January 01 1997
  • United News & Media wins Blenheim
    Media group United News & Media, recently merged with MAI, has bought conference organizer Blenheim Group. The offer is worth about £590 million (US$970 million).
    January 01 1997
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