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The Australian government announced details of the consultation on establishing a Tax System Advisory Board (TSAB) today.

The US Supreme Court dismissed an appeal by Ford Motor Credit Corporation last week to overturn a lower court decision denying the company a state tax refund.

Foreign funds with a local agent will not have to pay tax, the Australian government has confirmed.

Michael Fernhoff has joined Proskauer Rose as a partner in the firm’s Los Angeles office.

Henk Vanhulle, a partner since 1995, has been named the new global head of tax at Linklaters. Vanhulle, who works in Brussels takes over from Yash Rupal who is stepping down after one three-year term. Rupal is taking over from Mark Kingstone as UK head of tax.

A US appellate court has waded into the controversy surrounding questions of work product protection and attorney-client privilege in the context of disclosure to the IRS.

The Irish Revenue has confirmed that the tax measures in the Finance Bill, which include changes to the securitisation regime, will go ahead, despite the general election next month.

Type of Agreement Country Country Date Signed Tax Information Exchange Agreement Romania Guernsey January 17 2011 Tax Information Exchange Agreement Canada Guernsey January 19 2011

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $3.5 billion RockTenn Company Smurfit-Stone Wachtell, Lipton, Rosen & Katz - Joshua Holmes Acquisition $1.5 billion Advent International The Priory Group Weil, Gotshal & Manges - Sarah Priestley Deloitte Acquisition $505 million Hubbard Broadcasting, Inc. Bonneville International Corporation Skadden, Arps, Slate, Meagher & Flom - Matthew Rosen, Kirk Wallace Merger Undisclosed SHL PreVisor Weil, Gotshal & Manges - Sarah Priestley KPMG Acquisition Undisclosed Skype Qik Inc. Fenwick & West - Adam Halpern, Larissa Neumann Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Global bond offering $4 billion HSBC Bank plc Shearman & Sterling - James Leslie, Shiu-Kay Hung Senior unsecured notes offering $2.4 billion HCP, Inc. BofA Merrill Lynch, UBS, Wells Fargo Securities, Citi and J.P. Morgan Skadden, Arps, Slate, Meagher & Flom - John Rayis, David Polster Senior notes offering $650 million Labco SAS Shearman & Sterling Bredin Prat - Anne Robert Registered notes offering $400 million ORIX Corporation UBS, Morgan Stanley, Nomura Securities, Citigroup, Merrill Lynch, Pierce, Fenner & Smith Davis Polk & Wardwell - John Paton, Kent Heggerud Simpson Thatcher & Bartlett LLP

Thomas Zehnle will join the firm as a partner in the tax and white collar practices. He specialises in tax fraud, money laundering, and Bank Secrecy Act violations.