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  • The Polish government will decide the fate of foreign lawyers in a series of votes over the next few weeks. One proposal would restrict foreign law firms' ability to hire domestic lawyers and could require all foreign offices to be operated by Polish firms. But foreign firms should not worry yet, according to Stephen Denyer, partner at Allen & Overy in Warsaw and leader of a group formed by foreign lawyers in Poland. "Although the voting is soon, the government proposed this three-and-a-half years ago," he explains. "The legal regime here will definitely change. It will probably be necessary to have fully-qualified lawyers, and the Polish system will change. But the rules might just restrict foreign firms, rather than forcing foreign lawyers not to practise here."
  • Singapore firm Chor Pee & Company has broken into two new practices following disagreements between partners. The firm dissolved on December 31. Name partner Lim Chor Pee has started a new practice to be called Chor Pee & Partners, and is taking 20 of the original firm's 28 lawyers with him. But the remaining lawyers claim that he cannot use the name, because it is too similar to the old firm's name.
  • The American chapter of litigation involving the financially distressed Lloyd's of London has been active. American Names who have opted not to participate in the settlement contained in the Lloyd's Reconstruction and Renewal Plan recently sued Lloyd's for fraudulent misrepresentation in two cases filed in the federal court in New York: Stamm v Lloyd's and Grace v Lloyd's.
  • The commoditization of energy and the development of a European energy market is well under way — but will remain incomplete while there is no standardized master contract available. By Mark Haedicke of Enron Capital & Trade Resources Corporation, Houston
  • • US firm Cadwalader, Wickersham & Taft has appointed Lawrence Fruchtman. He joins from National Westminster Bancorp, where he specializes in domestic and international banking regulation. He has also worked at the Federal Reserve Bank of New York.
  • Dutch financial services company Aegon is buying the insurance operations of Providian Corporation in a US$2.62 billion stock transaction. It is the largest acquisition in the life insurance industry.
  • UK firm Lovell White Durrant has expanded its Chicago practice with the appointment of six lawyers over the last three months. Anne Fortney is the latest to join the niche reinsurance practice, becoming of counsel. She leaves the Washington DC office of Carlsmith Ball Wichman Case & Ichiki, where she was a partner. "Anne is clearly quite a catch," says a Lovell spokesperson. Neal Moglin has also joined the firm as of counsel from rival Kaplan & Begy. Linda Dublow joins from Streich Lang in Chicago; James Chareq from Stuart & Branigin in Indiana; Markus Heyder from Latham & Watkins in Chicago; and Philip Bock from Chicago firm Lord, Bissel & Brook.
  • UK firm Herbert Smith leads UK firms in Private Finance Initiative (PFI) transactions with 38 deals, according to a new league table published by PFI Report. The table lists Linklaters & Paines second with 35. Dibb Lupton Alsop, in third place, leads Freshfields by seven deals. Allen & Overy comes fifth, with 21 deals.
  • US firm White & Case is setting up a trade finance and commodity practice in London. Nicholas Budd, partner at the firm's Paris office, will head the group, which was first launched in France.
  • On January 1 1997 a number of amendments to the Federal Act on Debt Collection and Insolvency of 1889 entered into force. The amendments are aimed at updating and clarifying the Act, without changing its structure. In the field of injunctions to freeze assets as a provisional remedy, three major modifications have been enacted with a view to improve the protection for the debtor and the third party holder of assets: