Hints and tips:
...We’ve talked about TRAs before, most notably in the buyout of Sculptor Asset Management last year....
...The broader point is that these types of “liability management exercises” — the euphemistic term for creditor-on-creditor violence — will probably become even more popular as a “wall” of junk-rated bonds...
...They would affect “already established private arrangements with the risk of destabilising the management and recovery system of such receivables, which in most cases is entrusted to [servicing companies...
...Optimists tout Argentina’s 2016 settlement with creditors led by Elliott Management. But our group had advantages Peterson judgment holders don’t....
...Urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM....
...The examiner noted one internal document where management admitted its complete ignorance of its financial positions and obligations....
...The regulator subsequently filed a criminal complaint against the bank’s management....
...Underlying that were investments in risky future receivables. They were investing on the bet that those monies would be paid over....
...as future receivables”....
...Tokio Marine has said publicly only that the insurance “covers the accounts receivable of the insured”....
...GFG is now trying to refinance and pay back creditors....
...They put real money in, real cash and they charged a below-average management fee.”...
...De-Risked receivables: With 25% of the Utilities division debtors written down to zero, a material overhang has been removed....
...Firstly, companies will probably ‘kitchen sink’ their results with write-offs of receivables, unsold inventories and perished products....
...While comfortable relative to others in the sector, Crest was at the higher end of the range of gearing including land creditors....
...Airlines engaging with their creditors & suppliers, alongside discussions of how to formulate unpaid leave and 3. Potential Government intervention....
...The company’s creditors questioned whether the metric would pass muster with US securities regulators....
...Given that some of the company's debt trades at 8 cents in the euro, prospects for creditors to recover much look bleak....
...The audit found that this money had been accounted for as a receivable from Abraaj’s asset management arm....
...That combined $1bn in receivables and spending had been exacerbated by years of extravagant staff and travel costs, including large entourages surrounding Mr Naqvi....
...This was achieved through various schemes, including a process where loans were taken to settle creditor bills against receivables but those loans were not booked through the balance sheet....
...BT Italia’s management had been taking loans to settle creditor bills, he said, through the use of “factoring”, or accounts receivable financing, methods....
...After five meetings, the board approved the plan on September 21, but attached a condition requiring Hanjin Shipping to offer account receivables of the shipping line as collateral....
...As Huarong has told its investors, its shipbuilding business is, to all intents and purposes, a zombie operation: “Except for the continuous efforts in collecting outstanding receivables and realising existing...
...As a reminder (emphasis in original): For risk management, debt liabilities and assets may be dealt with in an integrated manner, focusing on net debt....
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