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Bankruptcy law in the Republic of Macedonia

Insolvency legislation reform in the country began back in 1997 when the new bankruptcy law was enacted and published in the “Official Gazette” in October 1997. It entered into force on 6 November 1997 and came into effect on 5 June 1998. With the enac ...

Resource Article - abi_admin - 07/27/2015 - 14:56 - 0 comments - 1 attachment

Rights of trade creditors in the US

A trade creditor who supplies goods to a company that files for bankruptcy should seek to enforce certain rights in the Chapter 11 case. For instance, the Bankruptcy Code Section 546(c) preserves a creditor’s right of reclamation under state law. The a ...

Resource Article - abi_admin - 07/27/2015 - 14:49 - 0 comments - 1 attachment

Brown Rudnick Alert: MENA - Trends and Opportunities

Over the last few years there have been a number of very substantial and high profile distressed situations in the Middle East and North Africa. A combination of the financial crisis, the “Arab Spring” and more recently fluctuations in petrodollar have h ...

Resource Article - abi_admin - 07/27/2015 - 13:05 - 0 comments - 0 attachments

LDK Solar: Implementing a global restructuring of a China-based corporate family

As the attention of restructuring experts moves east, the LDK Solar group (“LDK”) has set a precedent as one of the first China-based groups to successfully restructure debt issued in the international capital markets through a court-based process. L ...

Resource Article - abi_admin - 07/27/2015 - 12:59 - 0 comments - 1 attachment

Bond restructuring: A completely new legal regulation in Poland

Completely new solutions on bond restructuring will come into force in Poland on 1 July 2015. The change is crucial – so far, in principle, bond restructuring has been impossible, with the issuers having to resort to partial solutions or being unable ...

Resource Article - abi_admin - 07/27/2015 - 12:54 - 0 comments - 1 attachment

Ukraine Avoids Default With $120 Million Interest Payment

Ukraine has staved off a default on its $70bn debt pile, rekindling hopes that Kiev can cut a deal with creditors to restructure a substantial proportion of its dues, the Financial Times reported. The cash-strapped eastern European country, which is ...

Daily Headline - global.abi.org - 07/26/2015 - 20:32 - 0 comments

Greece Rocked By Reports Of Secret Plan To Raid Banks For Drachma Return

Some members of Greece’s leftist-led government wanted to raid central bank reserves and hack taxpayer accounts to prepare a return to the drachma, according to reports that highlighted the chaos in the ruling Syriza party, The Guardian reported. It ...

Daily Headline - global.abi.org - 07/26/2015 - 20:49 - 0 comments

Greece Bailout Monitors Question Access To Ministries

Negotiators from Greece’s bailout monitors will fly to Athens on Monday to formally begin talks on a €86bn rescue after days of delays over whether the Greek government would allow creditors to have full access to staff and facilities, the Financial Ti ...

Daily Headline - global.abi.org - 07/26/2015 - 20:50 - 0 comments

Personalities Clashing Over How to Handle New Greek Bailout

To many Greeks, the debt the country has amassed is the evil fruit of austerity policies, imposed from the outside, that asphyxiated its economy and trampled on its sovereignty. To the International Monetary Fund, the debt of more than 310 billion euros, ...

Daily Headline - global.abi.org - 07/23/2015 - 23:36 - 0 comments

Ukraine Showdown With Creditors Comes To Head

A months-long, multibillion-dollar test of will between Ukraine and its creditors is due to come to a head as Kiev faces a decision to pay up — or default on its $70bn debt pile, the Financial Times reported. The trigger is a $120m interest payment d ...

Daily Headline - global.abi.org - 07/23/2015 - 23:37 - 0 comments

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