Hints and tips:
...A Genesis entity, GGC International Ltd, is on the official committee of unsecured creditors in the FTX and Alameda joint-bankruptcy process....
...other official bilateral creditors — by the end of the year....
...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....
...An official committee of unsecured creditors has also hired a consultant, Elementus, as “blockchain forensics adviser”....
...committee of unsecured creditors, could advocate for minority shareholders....
...A spokesperson for Mashinsky said he and his family still had $44mn of crypto assets frozen with Celsius even after the withdrawals, which he had voluntarily disclosed to the official unsecured creditors...
...It remains a group, a strong international franchise, high diversification of revenues, strong capital, and high buffers of bail-inable debt to protect senior unsecured creditors....
...He committed his crime by trying to snatch a lion’s share of that pot while he represented all unsecured creditors on an official committee in the bankruptcy....
...Kamensky, who co-chaired an official committee of creditors, offered to buy some of those illiquid shares for 20 cents on the dollar from fellow claimants who wanted immediate cash....
...Mr Kamensky, who was a member of an official committee of unsecured creditors, then sought to pressure Jefferies to back off from making another bid for the securities, prosecutors said....
...“Ask Detroit’s creditors how it went for them,” he said, pointing out that unsecured creditors received less than 20 cents on the dollar....
...Co-ordination across legal jurisdictions among the different creditor groups — including bondholders of the Republic, bondholders of PDVSA, judgment creditors, arbitral award holders, and official sector...
...“Because the deficit is calculated on a buyout basis the pension schemes will be the largest unsecured creditors by a country mile, with a claim against Carillion, I estimate, at £1.4bn, much bigger than...
...official lenders in the eurozone crisis....
...Greater encumbrance of bank balance sheets can adversely affect the residual claims of unsecured creditors during bank resolution, increase risks to deposit insurance schemes and reduce the effectiveness...
...Though there is little direct knock-on from the Cyprus debacle for equity or bond markets, investors were rattled that the terms of the bailout seemed to tear up the principles of creditor hierarchy, setting...
...Willem Buiter of Citigroup said: “There are enough unsecured creditors to bail in, including senior unsecured creditors . . . to keep the taxpayer out of it.”...
...– ‘ranking’ language, which could support a view that the clauses only promise equal legal ranking of creditors.)...
...This will benefit both Greece and its official creditors by making Greece’s debt position more sustainable. Note that JPMorgan called this a “narrow perspective”....
...I will make an official offer of compensation to the expropriated parties as soon as possible. That is, it’s possible to interpret the writedown of the sub debt as not fully official....
...So-called bail-in powers – the ability to write down unsecured creditors to failed banks – would reduce the burden on taxpayers. But as proposed, it would not be in place until 2018....
...Officials in Berlin are adamant that if there is a wider Greek financing gap, it cannot be filled with more public money, putting the onus on private creditors to take a bigger writedown on the value of...
...The eurozone crisis and the prospect of new regulation have driven many banks away from issuing ‘unsecured’ debt, which is not backed by specific pools of collateral....
...Likewise, threatening insolvency of systemically important banks (‘sibanks’) and other ‘sifis’ is first visited on these institutions’ unsecured junior and senior creditors....
...The plan has received the support of the official creditors’ committee, but other groups may still object....
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