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The House of Lords has reversed Siebe Gorman, the landmark case on establishing a fixed charge, meaning that there is no longer a simple way for a clearing bank to take an effective fixed charge on book debts. By Geoffrey Yeowart

Simon Tortell explains the reforms Malta must make to ensure compliance with the Directive

Despite missing the July 1 deadline, France is now putting the finishing touches to its implementation, says Marc-Etienne Sébire

Mizuho Corporate Bank provided acquisition finance, in the form of senior and mezzanine debt, to Charterhouse Capital Partners on its £300 million purchase of Avent Group. The acquisition was completed on June 9 2005, but Mizuho is lending to refinance a temporary equity-bridge structure that was put in place to effect the purchase. Malcolm Hitching led the Herbert Smith team acting for Mizuho, while Lovells' partner Derek Baird advised Charterhouse Capital Partners.

When Portuguese companies need money to invest in new technology or overseas expansion, they often rely on bank loans or EU funds administered by the government.

Regulators and rating agencies are taking a close look at the collateralized debt obligation (CDO) market and its participants. Simon Hart assesses whether regulatory concerns are transitory or more deep-rooted

The Kingdom of Saudi Arabia has enacted legislative milestones for the insurance industry: the Cooperative Insurance Companies Control Law (promulgated by Royal Decree M/32, dated 2/6/1424 H) and its implementing regulations (issued by Ministerial Order 1/596, dated 1/3/1425 H) (the Insurance Law); and regulations permitting insurance companies to open branch offices.

Article 1(71) the Financial Law for 2005 (Law 311 of December 30 2004) provides that state, regional and local authorities must convert loans whose debt service is paid either fully or partially by the state into notes of new issue, or re-negotiate those loans, if:

Michael Shaw explains how Britannic Group and Resolution Life merged under the UK's new prospectus and listing regime by producing a document equivalent to a prospectus

Christian Lambie, Allen & Overy The Royal Bank of Scotland acted as arranger and lead manager on a £355 million ($616.5 million) issuance of commercial mortgage-backed notes by Trafford Centre Finance, a member of Peel Acquisitions Group. The transaction involved the issuance of reserve notes, on which no interest or principal is payable while held by the issuer. Partner Christian Lambie led the Allen & Overy team advising RBS. Travers Smith advised The Peel Acquisitions Group. Sachin Zodgekar is in-house counsel at RBS.