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17 Int'l Fin. L. Rev. 1 (1998)

handle is hein.journals/intfinr17 and id is 1 raw text is: INTERNATIONAL January1998VolXVII Nol FINANCI L LAW IREVIEW Deals of the year The year's leading deals identified and analyzed. By Richard Forster, NickFerguson and Stephen Mulrenan Equity offerings 17 France Telecom privatization Beijing Enterprises IPO VSNL privatization Bond issues 19 Global: Brazilian Brady bond swap Convertible: Canal Plus, Stalexport High Yield: Netia; Castle Transmission Asset-backed: Globaldrive Project finance 22 Oil. Petrozuata (Venezuela) Power: LaibinB (China) Mergers & acquisitions Guinness and Grand Metropolitan 24 House of Lords rejects Charge Card 7 The Lords have recognized the realities of business life and accepted the legal possibility of charge-backs over deposits. By Geoffrey Yeowart Hong Kong clarifies funds regulation 10 TheHongKongSFC's proposednewCode of Conduct provides detailed regulation for fund management activities. By SaraOr France boosts securitization 13 France has removed most of the disadvantages of FCCs as securitization vehicles. By Richard Parolai andJonathan Lewis China: how to set up a foreign bank branch 27 Bank branches are the most useful way for foreign banks to set up operations in China. By Philip Gilligan and Steven Blayney How to use the collateral carousel 29 Securities held by clearing organizations are increasingly used as security, Conflict oflaw and practical issues require care. ByPaulAvanzato Canadian lawyers begin to prepare 33 Faced with new competitors among the big six and US firms, and expecting a further influx, Canadian law firms are preparing themselves. Paul Lee reports Landesbank state protection is safe 39 State guarantees of Germany's Landesbanks face challenges as state aids. But creditors need not be nervous. By Michael Gruson Brazil eases pre- export credit rules 41 Pre-export credits benefit from a favourable tax rate. Those seeking to use such finance need to fulfil restrictive regulatory rules. By Richard Grice and Ana Carolina de Salles Freire 3 White & Case's transatlantic merger with Belgium's Forrester Norall & Sutton will not be the last Clifford Chance suggests a client might be better served elsewhere, and then tries to get the business back again China prepares to relax bars to foreign law firms Latham & Watkins opens in Singapore Chadbourne & Parke loses only London-based UK projects solicitor Buruma Maris and Loeff Claeys Verbeke decide to abandon merger plans 6 Merrill Lynch buys Mercury Asset Management for US$5.2 billion WorldCom wins battle for MCI, defeating BT and GTE Gazprom in strategic alliance with Shell Gazprom wins US£$3 billion loan for Yamal pipeline Lazio first European region to make MTN programme Newcourt Credit Group to buy AT&T Capital for US$1.6billion 48 Joseph Polizzotto, managing director and deputy general counsel, Lehman Brothers, NewYork North America 44 US: Computer-generated writings do not fall within definition of writings Europe 44 Austria: Insolvency Law Reform Act 1997 Belgium: Regulatory framework for securitization now complete Denmark: New Act on guarantees for the purchase or rebuilding of smaller ships Finland: Proposal for the reorganization of the supervision of financial and insurance services Asia Pacific 45 Singapore: Prohibition on share buybacks relaxed LatinAmerica 46 Brazil: Securitization of real estate; foreign loan rules relaxed; administrative reform Uruguay: Regulations for statistical rating agencies EU Briefings 47 Commission proposes directive on takeover bids P&O/Stena joint venture to go ahead for limited period Commission clears Siemens/Electrowatt merger Van Miert sets out guidelines on antitrust fines International Financial Law Review International Financial Law Review is now on the Internet. Find us at: http://www.lawmoney.com Tarniarv 199S11

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