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...Altice France has just over €20bn of secured debt and €4bn of riskier unsecured debt that does not have a direct claim on its assets....
...The Body Shop collapsed owing almost £50mn to unsecured creditors, who face being left out of pocket, as the administrators pursue a company voluntary arrangement in a bid to keep the retailer’s shops open...
...Hundreds of unsecured creditors including consulting firms Accenture and the Boston Consulting Group were owed a total of £44.6mn, according to the administrators’ proposals finalised this week....
...Arrival owes about £87mn to secured creditors, £2mn to preferential creditors, and a further £102mn to unsecured creditors, the document shows....
...The country’s official creditors have already extended their own debt payment moratorium to 2027, when Ukraine’s current IMF bailout ends, and signalled that they will restructure at that stage....
...Hundreds of unsecured creditors are expected to recover between 4 per cent and 8 per cent of their debts, or as little as 4p in the pound, according to the administrators’ proposals finalised this week....
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its creditors....
...Bondholder talks are the next stage but Ghana also needs to formalise the deal with official creditors, IMF staff said as they gave the green light for the bailout to continue last week....
...Second, in recent restructurings, official creditors, more so than private creditors, have been the cause of delay....
...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...
...“We did our part, now creditors — official, private — must do their part,” Hichilema said....
...with domestic creditors....
...Zambia’s official creditors including China have already signed up to debt relief, which made a private creditor deal the last hurdle to leaving a 2020 default behind....
...In that scenario, bondholders would give up 18 per cent of the value of their debt, versus 13 per cent for the official creditors....
...restructuring for ensuring that official and private creditors come out equally....
...This includes adding stricter timelines, and ensuring a more standardised treatment of different types of creditors, which has been a sticking point for China in recent restructurings....
...Even after a recent uptick, an unsecured bond maturing in July of that year is trading far lower, at less than 50 cents....
...One person involved in the process said landlords and unsecured creditors, who are likely to be wiped out in the restructuring, may welcome Neumann’s appearance simply to shake up a process that has been...
...A further irony is that today if there are holdouts they appear to be found within the official creditor community, something the New York proposal does not address....
...So far, Beijing has emphasised the need to complete construction projects but stopped short of unveiling any official measures to help developers in difficulty....
...of all Chinese state creditors or simply these of China’s designated official lenders....
...People familiar with the Zambian process said China had complained that bondholders were not offering terms “comparable” with the relief that official creditors had already agreed on more than $6bn of their...
...The fund will also host a Global Sovereign Debt roundtable, where it is hoped China and other big bilateral creditors can make progress on restructuring the debts of some of the world’s most vulnerable economies...
...and use of an unsecured line to discuss sensitive matters, which was tapped by Russian intelligence....
...And even the World Bank (one of the most important official sector creditors) thinks Belarus is in default. So do the rating agencies S&P, Moody’s, and Fitch....
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