Hints and tips:
...Ukraine’s international bondholders have formed a creditor committee ahead of a $20bn debt restructuring that Kyiv is aiming to negotiate by September, amid uncertainty over the arrival of funding to help...
...But lawyers for Purdue, the Sacklers and the creditors committee, which includes individual claimants, have argued the full liability release is a condition for the Sacklers making any financial contribution...
...Hichilema’s government signalled that China and the country’s other official creditors were happy with the latest bondholder deal, after delays that made Zambia a symbol of the failure of a G20 initiative...
...and an increase in the number of claimants for jobless benefits....
...The bondholders’ committee said on Monday “it was not for official bilateral creditors to dictate debt terms to other creditors in circumstances where the government has confirmed comparability of treatment...
...Finally, China’s representatives in the Official Creditor Committee kiboshed an initial agreement between Zambia and its bondholders in part due to fears this would not leave enough room for a comparable...
...’s immigration law committee....
...and the Comparability of Treatment principle as agreed with its Official Creditor Committee (the “OCC”), as confirmed in the Government’s press statement of 26 October....
...The bondholder committee agreed to directly forgo $700mn of postdated interest as part of the deal, unlike official creditors, which have preferred to avoid writedowns in favour of reducing the cash flow...
...Yet even with the adjustment, the Official Creditor Committee (OCC) did not bless the deal....
...John McQuater, chair of the civil justice committee at the Law Society and a personal injury specialist at Switalskis Solicitors, said there had “understandably been a lot of focus” on the backlog of cases...
...A committee of bondholders agreed to extend maturities and slash interest payments on terms matching recent breakthrough deals with China, Zambia’s biggest lender, and other official creditors, the southern...
...Zambia’s debt restructuring deal with bondholders has been nixed by its Official Creditor Committee because it breached of the ‘comparability of treatment principle’ — where no creditor should receive more...
...It follows an agreement with official creditors in June to refinance about $6.3bn owed to bilateral lenders including China and marks another significant easing of pressure on the country’s economy....
...Individual claimants could seek judicial reviews of the “legality of being denied access to the courts”....
...contracts, tort claimants and various other categories....
...While Sri Lanka’s non-Chinese bilateral creditors formed a committee, Beijing has negotiated separately....
...other official bilateral creditors — by the end of the year....
...Lesson 9 The Common Framework remains a bit of a dud The main innovation of the Common Framework was that China would negotiate together with the Paris Club through a single official creditors committee...
...In fact, Sri Lanka is negotiating with many distinct external creditor groups — the official bilateral creditor committee organised by the Paris Club; China’s official creditors (basically China Eximbank...
...FTX is seeking court permission to appoint Galaxy, which it said was chosen in consultation with the official committee of unsecured creditors and after considering other potential investment advisers....
...As a former US government official, and a Reaganite, Nichols knows whereof he speaks....
...It has also not joined a committee of creditors designed to accelerate the restructuring process....
...Kevin Daly of Abrdn, an asset manager and member of a committee representing private-sector bondholders, said the IMF deal implied external creditors would take a $10.5bn hit between 2023 and 2026....
...For claimants, some of whom are terminally ill, a resolution of the talc cases cannot come soon enough....
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