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  • Croatia and Slovenia restructure debt
    The US$4.3 billion debt owed by the former Yugoslavia has been partially apportioned to Slovenia and Croatia. Croatia has issued US$1.46 billion and Slovenia US$812 million in bonds in exchange for their share of the debt.
    August 31 1996
  • Baker & McKenzie expands in Warsaw
    Baker & McKenzie's Warsaw office has merged with the local office of Detroit-based firm Dickinson, Wright, Moon, Van Dusen & Freeman. The move follows Dickinson Wright's decision to concentrate on its US offices. The Warsaw office was the firm's only foreign base. The merger brings Baker & McKenzie's staff in Poland to 33 lawyers. For more information see the Polish country survey.
    August 31 1996
  • Dutch Bar abandons tariff system
    The Dutch Bar Association has decided to stop its tariff system, by which fee guidelines are issued every year for the profession. The change comes after a government report criticized the system, saying some companies considered the fees too high. From January 1 1997 the Association will give advice on billing instead.
    August 31 1996
  • Ethical Italian
    Dr Franco Riolo, general manager of the legal and tax department at Banca Commerciale Italiana, talks to Diana Bentley
    August 31 1996
  • Comment
    Philip Wood of Allen & Overy, London, foresees a legal revolution, cutting the divides and confusions between legal systems, and argues that lawyers should do more to promote reform
    August 31 1996
  • Heard at the bar
    • The Ministry of Justice in China has awarded 16 licences to foreign firms wishing to operate branch offices. The following received licences for Beijing: Birendelli Castellani (Italy), Brown & Wood (US), Freshfields (UK), Haythe & Curley (US), Komatsu Koma & Nishikawa (Japan), Nassir & Partners (Amman), Richards Butler (UK) and W K To & Co (Hong Kong).
    July 31 1996
  • Latin America litigation
    The history of registration requirements imposed on securities in Argentina illustrates the volatility of the country's economic conditions and regulations over the last decade. More recently, it has also been evident that when a desperate need for higher tax revenues is the driving force behind its implementation, this seemingly technical requirement may even threaten to wreak havoc in the secondary market for debt securities.
    July 31 1996
  • Hong Kong
    The Stock Exchange of Hong Kong Limited (the HKSE) recently granted the first waiver under the guidelines issued in January 1996 for infrastructure companies which do not meet the general three-year profit requirements. The waiver was granted to Road King Infrastructure Limited whose shares were listed on July 4 1996.
    July 31 1996
  • China
    As China enters its ninth five-year plan this year, the BOT (build-operate-transfer) method of infrastructure financing has been receiving keen interest. In particular, power plant project financings are moving closer to the international model of BOT investments.
    July 31 1996
  • Turkey
    A communiqué issued by the Undersecretariat of Treasury has amended some sections of the previous communiqué on foreign investment. The main points are as follows:
    July 31 1996
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