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...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....
...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...
...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...
...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...
..., the chair of the advisory committee on business appointments (Acoba)....
...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...
...Yet even with the adjustment, the Official Creditor Committee (OCC) did not bless the deal....
...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...
...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....
...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...
...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...
...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....
...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 has not, according to the Determinations Committee, the finance-industry group that’s in charge of these types of matters. The committee decided that on June 2. Then it decided again on June 8....
...Vista Equity Partners is one example; David Breach, a former member of Kirkland’s management committee, joined Vista’s top team in 2014....
...Some public officials have raised concerns about potential risks to press freedom in the UK if an entity that gets the majority of its funding from Abu Dhabi were to own one of the country’s most prominent...
...For the other groups of creditors, a reply to the conciliators’ (conciliateurs) requests is expected in the next few days....
...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....
...Casino, which owns the Franprix and Monoprix chains, is racing to conclude an agreement with its creditors by the middle of the month to stave off the risk of default....
...Sri Lanka officials have travelled to Marrakech for the IMF’s annual meetings this week, and the announcement of the agreement with Exim Bank will increase pressure on the country’s outstanding creditors...
...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...
...or so creditors....
...There’s a big difference between being an unsecured creditor of Venezuela and having a claim on Citgo....
...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...
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