Magazine
November 1999

Magazine Archive

UK strikes at tax havens

The UK has announced a crackdown on the use of island tax havens, but practitioners doubt the effectiveness of the reforms.
Loyens loses team to Freshfields

Loyens loses team to Freshfields
Ernst & Young close in on Atlanta firm

Ernst & Young close in on Atlanta firm
Sterling profits in Paris

Sterling profits in Paris
Revenue Canada releases transfer pricing circular

Revenue Canada has finally released its long-awaited transfer pricing circular, detailing its attitudes to legislation put in place two years ago
UK customs wins $15 billion EU VAT case

The UK customs and excise has won a value-added tax (VAT) case in the European Court of Justice, which, had it failed, could have allowed companies to claim back up to £15 billion ($25 billion) in VAT
News in brief
Alcatel to buy Genesys
Sullivan & Cromwell helps to combine chemical companies

The $11.6 billion deal between US companies Union Carbide and Dow Chemicals is near completion, with Union Carbide shareholders voting on the merger on December 1.
Cravath works on Worldcom merger
Herbert Smith advises Bank of Scotland

The Bank of Scotland has launched a £20.85 billion ($34.7 billion) hostile bid for the UK's National Westminster Bank (NatWest). The surprise offer comes one month after NatWest agreed to pay £10.8 billion ($17.4 billion) for the life assurer Legal & General.
Skadden, Arps Advises Williams Communications

Williams Communications Group, the US internet and data provider, has launched a $783 million public offering of shares, as well as $2 billion worth of high-yield notes.
Ineos consults Freshfields

The UK chemicals company ICI has sold its acrylics business in Belgium to Ineos Acrylics for $847 million.
Ernst & Young advises on Nestlé sell-off

Nestlé has agreed to sell its European frozen food business to a Swedish-US investment group.
Delta turns to Davis Polk

The American company Delta Air Lines has completed its acquisition of the Ohio airline Comair Holdings.
Australian Review

Neutrality limits review options
Brazilian Reforms

Brazil reforms cut planning opportunities
Loss Planning

Germany strikes at loss planning
IFA Congress

IFA struggles to find the balance
Release of report reviewing business taxation
Transfer pricing guidelines released
Discrimination against permanent establishments of EU corporations
Update on double tax agreements
Clarification of tax treatment of share capital reorganization
New tax regime for foreign experts
Davis Polk conducts Merrill Lynch deal

Davis Polk conducts Merrill Lynch deal
Irell & Manella advises Vulcan
Racal goes

The international telecommunications network Global Crossing has bought the UK company Racal Telecom for $1.7 billion. Global Crossing, a US company based in Bermuda, outbid the US company Energis for Racal, and will use the deal to strengthen its presence in the UK.

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Magazine
November 1999

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