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Zhuhai Highway Co

McKenna & Co has announced that it has taken five lawyers from UK rival Nabarro Nathanson, establishing 'the number one real estate practice in Warsaw'. Resident Nabarro partner Steven Shone has moved with three of his property team to McKenna & Co with one more set to join.

In September, the Stock Exchange Committee of the Botswana Stock Exchange approved new 'Procedures for Listing and General Requirements for Listed Companies'. As adopted, the Procedures and General Requirements contain:

Spanish tax law provides a significant obstacle to the implementation of Employee Share Participation Schemes (ESPSs), in that the transfer of shares to employees at no cost or at below-market prices is subject to taxation. Perhaps for this reason, such schemes have not become well developed in Spain.

Last summer, the Lloyd's of London restructuring plan came under attack by a large group of US names (as individual investors are referred to in the Lloyd's market). The US names charged Lloyd's with various fraudulent practices and violations of US securities laws.

Alongside implementing the ISD and CAD, Finland has made a number of other changes to its securities law. By Tomas Lindholm and Tarja Wist of Roschier-Holmberg & Waselius, Helsinki

The Royal Trust Bank decision has left uncertainty as to how best to create a fixed charge over receivables. Chris Hanson and Geoffrey Yeowart of Lovell White Durrant, London, attempt to reconcile the cases

UK regional firm Pinsent Curtis has head-hunted a senior litigation partner from international firm Linklaters & Paines. Graeme Brister replaces Paul Downing as managing partner of the London office after Downing left to join Price Waterhouse last month. Says Christopher Styles, a litigation partner at Linklaters who has worked with Brister for 17 years: "To an outsider this move to a regional, domestic firm must look jolly odd. The key is that he wants to get out of the bigger jobs for international clients and move into management." It is said that Brister wanted to become managing partner at Linklaters, but Styles explains: "This is not sour grapes. He no longer wanted to spend so much time in practice."

The Italian Treasury is selling a further tranche of shares in the oil and gas company ENI with a L5.1 trillion (US$3.36 billion) international offering, part of Italy's largest privatization. The sale of the 8.75% stake in the company is being jointly led by Istituto Mobiliare Italiano and CS First Boston.

Garrett & Co, the UK firm in the legal network associated with Arthur Andersen, has made a series of senior lateral hires from City firms and is seeking to set up a Hong Kong office in the next two months.