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Gözde Kayacik Convertible bonds are a type of bond regulated under the Communiqué Regarding Debt Securities (II-31.1) published in the Official Gazette on June 7 2013, and numbered 28670. This bond has a hybrid nature, which is a combination of an ordinary bond and a warrant. It grants the holder the right to convert the bond into a number of shares in the issuer company either by means of capital increase (contribution), or by converting them into other issuer shares. According to the Communiqué:

The lighter side of the past month in the world of financial law

Korean banks are generally well capitalised, but it is feared that the implementation of Basel III later this year will rein in their growth.

An analysis of recent corporate scandals reveals the solution to China’s agency problem

Since 2006, Thailand has approved policies to promote the purchase of power from projects using renewable energy. The 2009 National Energy Policy Committee (NEPC) approved additional tariff adders for certain categories of alternative energy, including solar power.

The bond market will help fill Turkey’s project funding gap, but it’s no panacea Turkey's first infrastructure bond has opened another financing avenue for the country's high performing projects. The $450 million issuance by the operator of Mersin International Port included incurrence-based covenants, making it akin to a high-yield offering.

Viet Nam Shipbuilding Industry Group (Vinashin) has become the first Asian company to restructure through a UK scheme of arrangement. It also represents the first time a UK court used its discretion to stay proceedings against a debtor so that a scheme could be put forward.

Limited partners’ greater leverage will divide the market in two

Mats Sacklén, Baker &?McKenzie Jorge Bleck, Vieira de Almeida &?Associados The most prominent of London's moves last month saw JONES DAY capture Raymond McKeeve, Berwin Leighton Paisner's global head of private equity. McKeeve had reportedly also been in talks with another firm. SQUIRE SANDERS also secured a significant in the form of Addleshaw Goddard's head of structured finance Mark Thomas. Elsewhere in the City, KING & SPALDING expanded its London offering by establishing a financial services regulatory practice with the arrival of Mayer Brown partner Angela Hayes. US firm BRYAN CAVE brought transactional partner Dan Larkin on board from Dentons, while Stephenson Harwood lost financial and regulatory partner Charlotte Hill to COVINGTON & BURLING.

Guoqing Li, Mayer Brown JSM David Kidd, Linklaters Arguably the biggest news in Asia last month was the capture of restructuring and insolvency partner David Kidd by LINKLATERS in Hong Kong. Kidd joins from Allen & Overy and will head up the firm's pan-Asian restructuring offering. He has been in the region since 1998 and is regarded as one of Asia's highest profile restructuring lawyers. Elsewhere on the island, two notable moves in the investment funds space saw Gaven Cheong make the move from Sidley Austin to SIMMONS & SIMMONS, and Mark Cummings swapping Appleby for WALKERS.