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Key articles on the effect of Russia’s invasion of Ukraine on the global economy and trade
...The global banking regulator has held high-level meetings with bank executives, investors and credit rating agencies in recent weeks to assess the suitability of a form of debt that was controversially wiped...
...Many bondholders say they accept the need for a restructuring this year given the economic damage caused by the war, and to allow Ukraine to return to global bond markets to raise new money relatively quickly...
...At the height of the global financial crisis in 2009, distressed exchanges made up just over two-fifths of all US corporate defaults....
...US plans for shutting down a global bank call for removing top management, wiping out the shareholders and imposing losses on creditors of its holding company....
...of the global system....
...It said over the weekend that it had hired Linklaters as its principal legal adviser and would “work with the creditors to explore all feasible options of offshore liability restructuring”....
...Théo Maret is an associate at Global Sovereign Advisory and writes a sovereign debt newsletter....
...DIC Corp, a lossmaking, heavily indebted chemicals company, owns the museum and an unstated proportion of this collection....
...Zambia’s limbo was an “indictment” of the global system for sovereign debt restructuring, Hichilema told the Financial Times last week, as he pushed creditors “to just walk the extra mile and close this...
...However, it shies away from this role, leaving it to the debtor to seek relief and assurances from bilateral creditors over whom it has little leverage....
...That would mean that any creditor buying non-disclosed debts would have zero creditor protection and face a full wipeout if the sovereign debt poop hits the fan....
...While Elliott is known for its hardball tactics with creditors — for instance seizing an Argentine naval vessel during a protracted tussle with the Latin American nation — British water company legislation...
...Ghana defaulted on its debt in December 2022 after an economic crisis triggered by rising global interest rates, soaring inflation in the wake of the pandemic and government overspending....
...That twist has proved itself to be desirable and fashionable. In Havana, a womenswear boutique in Dublin, the label sits alongside global names....
...At the IMF/World Bank meetings in Washington, the so-called Bretton Woods institutions came under siege as leaders from the global south decried the hypocrisy of rich-country creditors demanding austerity...
...One notable absence is Arc Global Investments, a firm controlled by Orlando, which is the largest investor in DWAC....
...China and private creditors have also confounded the Paris Club’s efforts to restructure debt....
...“The last two countries that had not signed [deals as] official creditors, China and India, have signed, and I’m very pleased to indicate that,” Hichilema told traditional leaders at Zambia’s annual N’cwala...
...The call for intervention is the latest sign of problems at the businessman’s sprawling GFG Alliance, a loose collection of groups around the world that includes Liberty, the global steel and mining company...
...At 75 per cent, the recovery rates within the GEMs data set surpass those reported for Moody’s Global Loans at 70 per cent, Moody’s Global Bonds at 59 per cent, and JPMorgan Emerging Market Bonds at 38 per...
...This includes any shaping of the standards to emerge from the G20-led Global Sovereign Debt Roundtable, and other attempts at building consensus among creditors and sovereign borrowers....
...It defaulted on a $1.2bn term loan, which pushed it into a legal battle with creditors. Its auditor, Deloitte, resigned as the company’s losses nearly doubled from a year prior....
...In 2022, former Timberland global creative director Christopher Raeburn launched Timberloop for the Earthkeepers by Raeburn collection – a shoe that not only brought to market the regenerative rubber sole...
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