King & Wood Eyes Swiss Law Firm
King & Wood, China's largest law firm, "is set to announce" a merger with SG Fafalen, a Swiss law firm based in Hong Kong, The Financial Times reports. With this move, the Chinese firm hopes to access the Russian market, as the Swiss firm maintains strong relationships there. "In the Russian bloc of influence, we definitely have a missing piece," said Ching-Wo Ng, a King & Wood partner. It would be the first merger between a mainland and a foreign law firm. No financial details have been disclosed.
Dairy Companies Ordered to Pay USD160m Compensation
A group of 22 Chinese dairy companies accused of selling
melamine-contaminated milk products must pay a total of USD160m to
victims and their families, state media reports. A spokesperson of the
China Dairy Industry Association confirmed that a fund has been
established but did not provide further details. In September, several
dairy companies including Sanlu, Mengniu and Bright Dairy, were exposed
for selling contaminated milk products, which led to the death of six
children and sickened around 300,000 nationwide.
Last update : 01-01-2009
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Keywords : King&Wood, Fafalen, Legal, Law, Merger, Russia, Sanlu, Bright Dairy, Mengniu, Melamine, Compensation |
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