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International Edition

Rules of the game - the lawyers making their mark in the sports sector

For decades, sport has continued to confound the laws of economic gravity that seem to so often drag other industries back down to earth. Year after year, broadcasting rights escalate – as do sponsorship deals – and ticket prices jauntily rise upwards while the financial fortunes of the millions of fans and spectators that turn out in sunshine and rain have generally stagnated or slumped during the recession. In short, sport is big business, and lawyers agree that it is a profitable segment of the legal services market to be involved in.
22 minute read

International Edition

MoFo and Sidley act for Chinese developer on HK$4.35bn share placing

Morrison & Foerster and Sidley Austin have advised Chinese property developer Evergrande Real Estate on a HK$4.35bn (£368m) share placing. The placement saw the company sell one billion Evergrande shares – equivalent to around 6.7% of the company – at HK$4.35 each in a bid to raise funds. Sidley served as US and Hong Kong counsel to Evergrande, fielding a team led by the firm's head of corporate finance Huanting Timothy Li and corporate partner Constance Choy.
2 minute read

International Edition

China's Dacheng secures exclusive alliance with Middle East firm

China's Dacheng Law Offices has secured an exclusive relationship with Dubai's Hussain Lootah & Associates (HL&A), in what is thought to be the first tie-up between a Middle Eastern law firm and a Chinese outfit. The Beijing giant has signed an agreement with HL&A in an effort to boost its presence in the Arabian Gulf. Under the terms of the deal, the two firms will refer work and share expertise on the local business challenges in their respective markets.
2 minute read

International Edition

Slaughters, Simpson Thacher among firms on $398m Chinalco HK listing

Slaughter and May, Paul Hastings and Simpson Thacher & Bartlett are among a raft of firms to have advised on the $398m (£253m) Hong Kong initial public offering of Chinalco Mining Corporation International. The company, a subsidiary of Chinalco, China's biggest producer of aluminium, is raising cash to help fund a copper mining project in Peru.
2 minute read

International Edition

In depth: Offshore

From the Isle of Man's attempts to protect its online gambling position to investing in Guernsey's cleantech industries, we round up the best offshore developments
1 minute read

International Edition

Down but not out – global firms still eye Japan success despite a tidal wave of economic strife

When the Japanese Government allowed foreign law firms to open offices in the country in 1987 to provide international advice, UK and US advisers started piling onto the bustling streets of Tokyo, then lured by the presence of the world's biggest banks and insurance companies as well as its booming technology and automobile industries.
6 minute read

International Edition

Horses for courses – the case for Guernsey foundations

Guernsey's much-heralded Foundations Law came into force last month. Lawyers dealing with an international client base of private clients now have another string to the bow of tools available to help with structuring for wealth preservation and generation. At midnight on 8 January, the registrar of foundations in Guernsey accepted the first registration of foundations to be established pursuant to the Foundations (Guernsey) Law 2012.
12 minute read

International Edition

A&O, Bakers and Latham among legal line-up on $1bn Thai oil bond issue

Allen & Overy (A&O), Baker & McKenzie and Latham & Watkins have all taken roles on a $1bn (£636m) bond issuance by Thai Oil, one of the largest petroleum refineries in Thailand. The publically-listed refining and petrochemical company, which is owned by Thailand's PTT Group, issued a dual tranche of senior unsecured fixed-rate notes to foreign institutional investors earlier this month.
2 minute read

International Edition

Solving the debt problem - the impact of changing regulations on debt funding

Since the 2008 global financial crisis, banks and other financial institutions have been hit by a tsunami of regulatory proposals. Take for instance Basel III (and its European offshoot, CRD IV-CRR); the Vickers and Liikanen reports; the proposed single supervisory mechanism; recovery and resolution proposals for banks in the European Union; Dodd-Frank in the US; Solvency II for insurers within the EU; and the Financial Stability Board's (FSB) proposals for shadow banking. The volume and complexity of new regulation has been routinely criticised as the root cause of the continuing financial challenges.
8 minute read

International Edition

Riding the refinancing wave - alternative investment options examined

Since the global financial crisis, concerns around shortfalls in refinancing and new money opportunities have regularly made the press. However, developing trends in the UK mid-market indicate that the potential impact of the refinancing wave may not be as severe, with UK mid-market borrowers finding ways to ride out the storm. With many UK banks sitting on over-exposed balance sheets and facing increasing regulatory constraints and high costs of funds, liquidity still remains a pressing issue for banks.
5 minute read

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