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International Edition

German merger control: Loosening the grip

The long-awaited introduction of the second domestic turnover threshold for the application of German merger control came into force on 25 March, 2009. Accordingly, a number of mergers with only minor effects on the German market will no longer be subject to German merger control. Foreign acquisitions of German companies and mergers of foreign companies, which have only a small presence in Germany, will benefit most from this new threshold.
5 minute read

International Edition

A&O hit by Italy walkout as 17 join Gianni

Allen & Overy's (A&O's) Italian practice has suffered a mass walkout, with more than 20 lawyers quitting last month in moves unrelated to the firm's redundancy programme. Rome corporate partner Lorenzo Parola has become the third partner to quit A&O's Italian practice in a month, leaving to join Dewey & LeBoeuf at the end of April along with a team of at least two associates.
2 minute read

International Edition

Lovells Italy insolvency chief quits for Gianni

Lovells has lost the head of its Italian business restructuring and insolvency team to local leader Gianni Origoni Grippo & Partners. Silvio Tersilla is set to join Gianni's Rome office next month and will work in the firm's 30-lawyer restructuring team, which is headed by partners Antonio Auricchio and Gabriella Covino.Tersilla joined Lovells as a corporate associate in 2002 and has specialised in insolvency since 2004. The firm gave him the brief to launch an Italian insolvency team on his promotion to the partnership in 2007.The team, which now has around five dedicated lawyers, will be led by Lovells' Italian corporate finance head Antonio Di Pasquale.
2 minute read

International Edition

Dechert set for Moscow with Chadbourne team hire

Dechert has announced that it is to launch in Moscow with the hire of a five-partner team from US rival Chadbourne & Parke, despite a last-ditch effort from Chadbourne to persuade the partners to remain with the firm. The team includes the managing partner of Chadbourne's Moscow and St Petersburg offices, Laura Brank, who also heads up the firm's Russia and CIS practice.Brank is set to join Dechert along with energy partner Shane DeBeer, banking and finance partner Jennifer Handz, project finance partner Konstantin Konstantinov and litigation partner Mikhail Rozenberg.
2 minute read

International Edition

Linklaters appoints head of corporate in Paris

Linklaters has named a new Paris head of corporate, with Fabrice de La Morandiere taking over from Marc Loy. Loy, who has headed Linklaters' 55-lawyer corporate team in the French capital for four years, had reached the end of his term.The group, which has 12 partners, is the largest practice group in the Paris office, which has around 180 lawyers in total.
2 minute read

International Edition

NCTM secures merger with Italian independent

Italian mid-market firm NCTM has successfully merged with independent outfit Janni Fauda & Associati to build one of the country's biggest law firms. Janni Fauda's thirty-lawyer operation, which includes three equity partners, five salaried partners and two of counsel will join forces with NCTM's Milan and Rome offices, bulking up its litigation, M&A, restructuring and employment practices.The tie-up will see NCTM's fee earner headcount increase to 290 across the firm's five offices in Rome, Milan, Verona, London and Brussels.
2 minute read

International Edition

Salans launches new team to service German clients abroad

Salans has launched a German international practice group in a bid to improve its service to German clients. The new group spans 14 offices and comprises 90 German-speaking lawyers outside Germany as well as a further 60 lawyers in the firm's Berlin and Frankfurt offices. An additional seven offices are offering German language advice, which will be led by partners in other offices.
1 minute read

International Edition

Benelux: To be continued...

As in other countries, the current economic and financial crisis has already taken its toll on Belgium. The number of bankruptcies has reached record heights. Unemployment is rising and forecasts for 2009 are pessimistic.In this context, on 31 January, 2009 the Belgian Parliament adopted a new Act on Business Continuity, completed by a Royal Decree of 27 March, 2009. It came into force on 1 April, 2009.
10 minute read

International Edition

Benelux: Calling for back-up

NautaDutilh advised Dutch banking giant ING on a Dutch state illiquid assets back-up facility that closed on 31 March, 2009. The plan allows ING to take a large portion of 'toxic' assets off its balance sheet, so that no further downgrade is needed to calculate the market value of these assets.
6 minute read

International Edition

Benelux: Outsourced resource

With a bit of a delay, there is no doubt that businesses in Benelux are currently suffering dramatically from the economic crisis. As in the UK, the governments of Belgium, the Netherlands and Luxembourg have intervened to bail out certain banking institutions in order to raise liquidity on the markets, but the impact of the financial crisis has been felt far beyond the financial sector.
8 minute read

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