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In Central and South America lawyers are experiencing mixed fortunes as one of the world's most exciting markets digests the combined effects of the Mexican peso crisis, Nafta and privatization. Richard Forster reports

US firm White & Case has named Raj Pande, head of the firm's India Practice Group, partner. Pande will continue to be based in the firm's Singapore office. The firm has also made two lateral hires. Weerawong Chittmittrapap, a Thai securities and corporate lawyer, joins the Bangkok office as partner. He moves from his position as partner at Baker & McKenzie.

UK firm Allen & Overy has announced the appointment of US lawyer David Slade as partner in its New York office. In a move designed to give the firm a dual US and UK capability in project finance work, Slade will be joined by dual-qualified partner Carl Sheldon who moves from the Frankfurt office.

John A Kehoe and J Alan Bannister of Clifford Chance, London and New York, offer a guide to the procedures for obtaining secondary listings on the main world markets

The government has taken steps to encourage insurance companies to provide offshore insurance services in Labuan's International Offshore Financial Centre. Although reaction in the banking market to the possibility of setting-up offshore had been good, only six insurance companies had moved to the centre.

The following is a summary of recent developments:

The Swedish Supreme Court has recently had to pass judgment in an interesting case (NJA 1996 s52) regarding the perfection of pledges under Swedish law.

The Finance Ministry has recently revised its policy relating to the issue of Foreign Currency Convertible Bonds (FCCBs) and ordinary shares (through the Depositary Receipt mechanism). It has substantially relaxed its policy on Euro-issues including clearance to non-bank finance companies to access the European market. Under the revised guidelines, non-bank financial companies registered with the Reserve Bank of India have been permitted to float Euro-issues. The new guidelines are expected to promote greater flexibility.

What is the relationship between a participant in a secured loan and the debtor when the debtor becomes bankrupt? This question has troubled many participants concerned that they may not be able to assert rights in the collateral during the course of the bankruptcy proceeding.

In this, the first ever survey of the legal advisers on international equity issues, International Financial Law Review identifies the leading firms in the field and discovers why they head the tables. Richard Forster reports