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Cablecom's recent refinancing extended light covenant packages to bank debt, a first for the European market. By Michael Evans

John Moore joined Herbert Smith as a partner in the global US securities practice of its corporate division. Moore arrives from Goldman Sachs, where he was senior counsel responsible for the investment banking division in Asia. He joins the firm's US securities team based in Hong Kong, where he will work closely with partner Kevin Roy handling the US aspects of capital market transactions.

Ko-Yung Tung joined Morrison & Foerster's New York office as a senior counsellor. Tung is former general counsel and vice-president of the World Bank, and former chair of the global practice group and member of the management committee at O'Melveny & Myers. Tung was approached to join Morrison & Foerster after leaving O'Melveny at the end of March. He was general counsel at the World Bank from 1999 to 2003. He has also served as secretary-general of the International Centre for the Settlement of Investment Disputes.

Ben Maiden reports from Toronto on the impact of corporate governance and secondary liability reforms

David Lindsey and James Hosking explain why the US Supreme Court may have opened the door for parties to obtain discovery from US courts in aid of international arbitration

There are four distinct laws governing debtor rehabilitation and bankruptcy in Korea: the Corporate Reorganization Act; the Composition Act; the Bankruptcy Act and the Individual Debtor Rehabilitation Act. In an effort to overhaul the insolvency system, the Korean government has enacted the Debtor Rehabilitation and Bankruptcy Act (the DRBA), which will take effect in April 2006.

In the wake of the hostile takeover of Nippon Broadcasting System by Livedoor, many Japanese companies are starting to adopt defensive measures to ward off unwanted suitors.

In implementing the EU Collateral Directive, France has extended netting possibilities and provided an exception to the general French requirement for a court order or auction when selling a pledged asset. By Pierre Lastenouse

The Reserve Bank of India (RBI) issued a notification on April 25 2005, granting permission to foreign insurance companies to set up liaison offices in India. However, the activities of these liaison offices are subject to the approval of the Insurance Regulatory and Development Authority of India (IRDA).

Danish law on taking securities does not permit floating charges, or similar pledges or mortgages of an undetermined plurality of assets.