Reviewing the Process for Sovereign Debt Restructuring Within the Existing Legal Framework PDF Download

Author: International Monetary Fund. Policy Development and Review Dept.
Publisher: International Monetary Fund
ISBN: 1498329233
Category : Business & Economics
Languages : en
Pages : 37

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Author: Karen S. Vorst
Publisher: Routledge
ISBN: 042985336X
Category : Business & Economics
Languages : en
Pages : 219

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Book Description
Published in 1998, this book provides detailed information on the financial markets in selected Central European transitioning economies. The independent countries selected for study in the text are Poland, Hungary, the Czech Republic and the Slovak Republic. The former East Germany is also include due to its proximity to the above countries and its unique experience in the transition process. Each country's section of the book contains articles written by professionals in the selected country. These individuals are economists, central bankers and/or analysts who have first-hand knowledge of the financial system. Each section details: the development in the banking sector plus the role of the central bank and the government in guiding the economy toward the market system; discuses the emerging capital markets and the ongoing process of privatization; and provides an update of the economic progress toward a market system that has been achieved since 1989.

Author: Simeon Djankov
Publisher: World Bank Publications
ISBN:
Category : Corporate governance
Languages : en
Pages : 21

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Book Description
We study the effects of different modalities of privatization to insiders on the restructuring process in two former Soviet republics - Georgia and Moldova - using enterprise survey data for 1995-97. Enterprise restructuring was similar in companies where incumbent managers received significant ownership stakes for free and in state-owned companies. In contrast, the restructuring process was faster in companies bought by their managers. We interpret these results to suggest that managers' incentives to restructure decrease when they perceive their newly acquired ownership as a windfall gain.

Author: Ms.Claudia Helene Dziobek
Publisher: International Monetary Fund
ISBN: 1451857780
Category : Business & Economics
Languages : en
Pages : 30

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Book Description
In recent decades, a wide range of countries have experienced banking problems. Their approaches to systemic bank restructuring have varied substantially. This paper analyzes a representative sample of 24 countries and provides a summary of policies judged to be successful. The sample countries were ranked by relative progress in resolving banking sector problems. Based on this ranking, the paper examines the effectiveness of institutional and regulatory measures, assesses the impact of accompanying macroeconomic policies, and examines the extent to which particular restructuring instruments contributed to success. Special emphasis is given to the role of the central bank.

Author: H.W. de Jong
Publisher: Springer Science & Business Media
ISBN: 9780792321606
Category : Business & Economics
Languages : en
Pages : 450

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Book Description
If a book needs a third edition, because the previous ones are sold out, one may well question whether an introduction is necessary. However, the Structure of European Industry was meant to be a flexible book, keeping it in tune with actual developments in the European Community. Some explanation is therefore required. Two new chapters on the services industry have been included, to recognize the growing importance of what is fundamentally a bundle of industries. It is also increasingly acknowledged, that the motorcar industry, for its efficiency and innovativeness, is very much dependent on the numerous suppliers, large and small, of the component parts industry. A chapter, reflecting on the strengths and weaknesses of the European car supplying industries is therefore most welcome. Finally, European competition policy, now fitted out with the Merger Control Regulation is moving more and more towards the centre of stage and the final chapter presents a survey of the ~ims and achievements of this type of policy, up till now steadfastly developed by the EC Commission. For the rest, the chapters which were already in the previous edition, have been updated and have partly been rewritten by the authors concerned. The editor is most grateful to old and new contributors for their efforts to jointly produce a book which, after 12 years, is still unique in providing a European, instead of a national focus on industries and markets.

Author: Michael Pomerleano
Publisher: World Bank Publications
ISBN: 0821359282
Category : Business & Economics
Languages : en
Pages : 436

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Book Description
In light of the periodic financial crises of the late 1990s, there has been a growing recognition of the need for a strategy to avoid and mitigate the severity of crises in the corporate sector, requiring the complementary efforts of policymakers, regulators, lawyers, insolvency experts and financiers. This publication examines the issue of corporate restructuring, drawing on case studies of corporate crises in Indonesia, Korea, Malaysia and Thailand among others; and discusses a range of topics including the key role of governments in securing an enabling legal system, effective out-of-court workouts, supportive tax regimes, policy and regulatory initiatives to address systemic corporate problems.

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing Opportunity and Community Development
Publisher:
ISBN:
Category : Political Science
Languages : en
Pages : 200

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Author: John William Butler
Publisher: Beard Books
ISBN: 1905773080
Category : Law
Languages : en
Pages : 350

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Book Description
A compendium of forty five articles on the restructuring process intended as a guide for corporate directors and officers.

Author: The World Bank
Publisher: World Bank Publications
ISBN: 0821389564
Category : Law
Languages : en
Pages : 103

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Book Description
This study provides a conceptual framework for the analysis of the questions of out-of-court debt restructuring from a policy-oriented perspective. The starting point of the analysis is given by the World Bank Principles for Effective Insolvency and Creditor Rights Systems. The study offers an overview of out-of-court restructuring, which is not seen as fundamentally opposed to formal insolvency procedures. Actually, the study contemplates different restructuring techniques as forming a continuum to the treatment of financial difficulties. Thus, from the purely contractual or informal arrangements for debt rescheduling between the debtor and its creditors, to the fully formal reorganization or liquidation procedures, there are numerous intermediate solutions. In the study, these solutions are identified by the terms of enhanced procedures where the contractual arrangements are supported by norms or principles for workouts; and hybrid procedures where the contractual arrangements are supported by the intervention of the courts or an administrative authority. The study discusses the advantages and disadvantages of all the debt restructuring techniques, and concludes, in this regard, that a legal system may contain a number of options a menu that can cover different sets of circumstances. In the end, the law may offer a toolbox with very different instruments that the parties may use depending on the specific facts of the case. A substantial part of the study is devoted to the analysis of the enabling regulatory environment for out-of-court restructuring. It is evident that debt restructuring does not operate in a vacuum: in fact, the general legal system influences and to a certain extent determines the possibilities for debt restructuring in any given jurisdiction. The study provides a checklist that can be used to examine the features of a legal system that bear a direct influence on debt restructuring activities. The different characteristics of informal restructurings, and of enhanced and hybrid debt restructurings are covered by the study. The different approaches to debt restructuring aim at combining the advantages of an informal approach with the advantages of formal procedures: especially, the existence of a moratorium on creditor actions and the binding effects of creditor agreements concluded within the insolvency process.

Author: Herbert J. Walberg
Publisher: IAP
ISBN: 1607526522
Category : Education
Languages : en
Pages : 134

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Book Description
(Published in cooperation with The Center on Innovation & Improvement) As suggested by the title, the purpose of this Handbook on Restructuring and Substantial School Improvement is to provide principles for restructuring and substantially improving schools. Sponsored by the U.S. Department of Education, the Center on Innovation & Improvement (CII) engaged leading experts on restructuring and school improvement to prepare modules for this handbook to assist states, districts, and schools in establishing policies, procedures, and support to successfully restructure schools. The Handbook is organized into three sections. The topic of the Handbook’s modules – restructuring with a focus on the district as the impetus for dramatic improvement – is relatively new in the nation’s education history. For this reason, the module authors were selected because they are highly experienced experts in their fields and can be counted on to judiciously weigh the less than definitive evidence and to state useful guiding principles.