Bulgaria's net creditor position is forecast to strengthen further, staying above the 'BBB' median net creditor position of 0.8% of GDP.
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At 65.4 billion reais ($20 billion), Oi's petition for creditor protection is fraught with challenges due to a complex capital structure and wide creditor base, analysts said.
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The current case hinges on the definition of "creditor" and "debt collector" and whether a company that buys debt should be treated as a creditor and therefore not subject to the law.
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France was Cuba's main creditor and last month as part of a deal between Cuba and the 15 rich creditor nations of the Paris Club it agreed to annul $4 billion in debt.
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Speaking at a conference for the 60th anniversary of the Paris Club of creditor nations, Coeure said that the IMF's preferred creditor status allowed it to be an "honest broker" in debt negotiations.
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Reuters reported last week that Urbplan Desenvolvimento Urbano SA, a Brazilian land developer controlled by Carlyle Group LP, is considering filing for creditor protection as it struggles with mounting client and creditor lawsuits.
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We expect the sovereign to remain a net external creditor.
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Toshiba is due to meet its creditor banks on Wednesday.
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Shareholders would then be just another unsecured creditor, he said.
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"Yes, we did not report to the creditor," he said.
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The bankruptcy court will govern Cuff creditor claims from here.
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Besides being the controlling shareholder, he was the largest creditor.
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China, a major creditor, is not a Paris Club member.
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China, a major creditor, is not a Paris Club member.
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Abengoa had sought preliminary creditor protection in November last year.
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The document did not state who was the new creditor.
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It has maintained its enviable status as a net-creditor throughout.
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Corrum, which is also a creditor of Seara, declined to comment.
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The company owes its biggest unsecured creditor, Callaway Golf, $5.5 billion.
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Northern creditor countries blame Greek fiscal profligacy for the country's woes.
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Administration is a form of creditor protection in the United Kingdom.
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With $1.1 trillion of Treasuries, China is the leading foreign creditor.
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The company owes its biggest unsecured creditor, Callaway Golf, $5.5 million.
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Athens has rejected creditor demands for more austerity measures beyond 2018.
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Lampert is Sears' biggest creditor, but he's not the only one.
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Breakingviews Deutsche Bank has received a cautious vote of creditor confidence.
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Administrators are a form of creditor protection in the United Kingdom.
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Russia, a major creditor to Venezuela in recent years, urged restraint.
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When the loan contract is signed, the lender and the creditor will agree to bypass the court system and allow repossession of collateral should the creditor default, a government source said after the decree was passed.
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Russia, a major creditor to Venezuela in recent years, has urged restraint.
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Yes, but: China is the region's largest creditor, per Foresight Africa 2018.
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It has agreed to sell Asiana under pressure from its lead creditor.
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And with $20189.5 trillion of Treasuries, China is America's largest foreign creditor.
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Urbplan and Carlyle declined to comment on a possible creditor protection filing.
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Germany, the biggest creditor, is the most reluctant about major debt restructuring.
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Sberbank is Agrokor's biggest single creditor with loans worth 1.1 billion euros.
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But politics is also in play in the euro zone's creditor countries.
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Any alternative plan will need company, creditor and court approval before implementation.
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In addition, AsDB benefits from preferred creditor status on its sovereign loans.
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The most important divergence is between creditor, Germany, and debtor, the rest.
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Peabody Energy * Receives approval to seek creditor votes on reorganization plan - u.s.
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Macri has also settled with an Italian creditor group for $1.35 billion.
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Aurelius is also a creditor of Neiman Marcus, the struggling luxury retailer.
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While it is not rare for a creditor to hold multiple tranches of debt, it is less common when the creditor runs many funds with competing investments, said Dawson, a professor at the University of Miami School of Law.
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Indeed, unlike Britain in 1914, America is a net debtor not a creditor.
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As a result, he is the department store operator's largest shareholder and creditor.
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Correspondent creditor banks agreed to maturity extensions and were duly compensated for this.
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The country remains a small net external creditor, 1.8% of GDP in 7503.
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The opposition also understands they want to honor financial obligations with any creditor.
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The bank—now owed €2437,21—presented itself to the court as a creditor.
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The firm aims to split its work between creditor and debtor side engagements.
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Those made him the company's biggest creditor, in addition to its largest shareholder.
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With 34 billion reais of securities outstanding, bondholders form Oi's largest creditor group.
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Toshiba's main creditor banks include Sumitomo Mitsui Banking Corp and Mizuho Bank Ltd.
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CEFC has in the meantime been hit by legal action from a creditor.
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Last week, QuadrigaCX filed for creditor protection in the Nova Scotia Supreme Court.
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A spokesman for lead creditor Korea Development Bank could not be immediately reached.
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S registered businesses, as a means of extending creditor protection to other divisions.
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Puerto Rico faces months of complicated debt restructuring talks with myriad creditor groups.
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A large structural current account surplus supports the country's net external creditor position.
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"That's exactly what the board is for," said one of the creditor sources.
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One creditor filed a lawsuit, which was distressing and damaging to my credit.
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It has been working to get creditor backing for a plan to restructure.
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The Department of Justice is its second-largest creditor, according to bankruptcy filings.
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He and his fund, ESL Investments, are owed $2.5 billion as a creditor.
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Venezuela's largest creditor is China, which takes most of its payments in oil.
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"There's no question the time frame has expanded," said one creditor-side source.
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|
That made him Sears' largest creditor: Sears owes him at least $1.3 billion.
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|
The papers marked first disclosure of how much each creditor would be paid.
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Japanese bankruptcy lawyers told Reuters that creditor committees are rare in insolvency cases.
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The company delisted in March after announcing it had filed for creditor protection.
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SEOUL, Aug 30 (Reuters) - Creditor banks of Hanjin Shipping Co Ltd have decided to stop supporting the South Korean shipper, news agency Yonhap reported on Tuesday, increasing the likelihood of court receivership, two people at the creditor banks told Reuters.
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Elliott is Energy Future's biggest creditor and has a stake in any final deal.
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|
The offer follows counter-proposals from various creditor groups to the island's initial Feb.
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|
They may adopt more creditor-friendly policies to counter his populist ideals, experts say.
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|
With 34 billion of bond debt outstanding, these investors form Oi's largest creditor group.
|
|
It's also a good idea to notify the creditor, bank or credit card company.
|
|
The group has previously referred questions to the refinery's major creditor, Russian lender Sberbank.
|
|
Creditor financial advisers could be in place as early as next week, he said.
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|
Elliott, which is EFH's biggest creditor, opposed a sale to Mr Buffett's Berkshire Hathaway.
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|
Another person said state-controlled Banco do Brasil SA was in the creditor group.
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|
In particular, that makes Europe a net creditor rather than the world's biggest debtor.
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|
Some observers criticized the creditor protection calling it an attempt to avoid making payments.
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|
"The board has been the biggest disappointment," a creditor source told Reuters in March.
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|
MM) is Agrokor's single biggest creditor with a 1.1 billion euros ($1.4 billion) claim.
|
|
The ESM, Greece's largest creditor, will continue to loan Athens money under favorable conditions.
|
|
State-run IDBI Bank is one of Kingfisher's more than a dozen creditor banks.
|
|
The sovereign's net foreign creditor position is set to reverse in the forecast period.
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|
The staggering company is just now emerging from creditor protection and into new ownership.
|
|
Landlords will also be able to claim from a 40 million pounds creditor fund.
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|
China -- Venezuela's most important creditor -- Russia and Turkey are among those standing behind Maduro.
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|
Then, you should also file a dispute with the creditor giving the incorrect information.
|
|
The South Korean firm's creditor originally put the stake up for sale in 2016.
|
|
A lawyer, Robert J. Hantman, represents a creditor with a judgment against Mr. Parnas.
|
|
According to the nine sources familiar with the arrangement, that new creditor is VTB.
|
|
Bill collectors could run afoul of the Fair Debt Collection Practices Act by warning a debtor that the creditor "may report" the transaction to the Internal Revenue Service if the creditor would not actually do so, a federal appeals court held on Friday.
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|
"Where the state is a creditor and it waives or fails to claim the interest owed to it on a loan, this could involve state aid in so far as that behaviour is not that of a diligent market economy creditor," Vestager said.
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|
"We are in a rare moment where the highest-quality creditor, the United States, is also the creditor with the highest interest rate," said Brandon Swensen, senior portfolio manager and co-head of United States fixed income at RBC Global Asset Management.
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|
CBS has signed and the deal is now pending creditor approval, a KordaMentha spokesman said.
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|
So when Iceland's financial sector collapsed in 0003, Wintris became a creditor to those banks.
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|
According to USA Today, the highest debt is to a creditor listed as Sartraco Inc.
|
|
You've also relinquished control of the asset, which is why these trusts offer creditor protection.
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|
She's offered to pay $5,500 a month to a creditor to sort it all out.
|
|
That adds to one other ship seized in Singapore by a creditor earlier this week.
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|
SEOUL (Reuters) - Korea Development Bank (KDB), the lead creditor of Hanjin Shipping Co Ltd 117930.
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|
Affected landlords will also be able to claim from a 40 million pounds creditor fund.
|
|
Carpetright this month said it would seek creditor approval for a Company Voluntary Arrangement (CVA).
|
|
Landlords will also be able to claim from a 40 million pounds compromised creditor fund.
|
|
Comey is unlikely to fold like a creditor of an old Trump Atlantic City casino.
|
|
Hanjin on Wednesday filed for court receivership after creditor banks decided to end financial support.
|
|
Another creditor is U.S. investment management firm Lone Star Funds, one of the sources added.
|
|
Austria has offered to settle creditor liabilities on the basis of a memorandum of understanding.
|
|
What many people misunderstand, however, is that this power is balanced by strong creditor protections.
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|
TORONTO, Oct 4 (Reuters) - Sears Canada won court approval to extend creditor protection until Nov.
|
|
Last week, HMM's creditor banks agreed to a 680 billion won debt-for-equity swap.
|
|
Even in the good times, there had been tensions between debtor and creditor member states.
|
|
Sberbank is Agrokor's single biggest creditor with a claim of 1.1 billion euros ($1.35 billion).
|
|
The transactions helped him become the company's largest creditor in addition to its biggest shareholder.
|
|
An "investigations and settlement consultant" at the health insurer is named as the creditor contact.
|
|
That figure includes one vessel seized in Singapore by a creditor, a company spokeswoman said.
|
|
The move makes the corporation the latest and most influential creditor to oppose the sale.
|
|
Borrowers often do not fight collection lawsuits, which allows the creditor to win by default.
|
|
The house owes that money to the bank or creditor who lent it, not you.
|
|
Elliott is also a creditor in the ongoing bankruptcy of California utility PG&E Corp.
|
|
The liquidation follows a petition to the courts by creditor Sun Yao, the documents showed.
|
|
Its creditor banks included the local branches of SocGen, BNP Paribas, Ecobank, BGFI and NSIA.
|
|
Premier Oil plans to hold a creditor meeting to vote on the scheme on Feb.
|
|
Monsanto is Talismã's single largest unsecured creditor and is owed 40 million reais, he said.
|
|
China -- Venezuela's most important creditor -- and Russia and Turkey are among those standing behind Maduro.
|
|
A large and sustained structural current account surplus supports the country's net external creditor position.
|
|
Authorities will also publish guidelines for trustee business and creditor meetings, according to the report.
|
|
Authorities will also publish guidelines for trustee business and creditor meetings, according to the report.
|
|
Antitrust authorities as well as Thomas Cook's creditor committee still have to approve the transaction.
|
|
Antitrust authorities as well as Thomas Cook's creditor committee still have to approve the transaction.
|
|
Over the last five years, Harbour appeared as a creditor in nearly 100 personal bankruptcy cases.
|
|
It meant Japan remained the biggest creditor nation for the 26th straight year, the MOF said.
|
|
Asset transfers from borrowers to creditor institutions will also not be subject to value added tax.
|
|
Creditor strategies include trying to delay an auction, easing bid requirements or challenging a lender's control.
|
|
Wintris is listed as a creditor with millions of dollars in claims in the banks' bankruptcies.
|
|
For another card, she and Cheryl eventually filed a lawsuit against the creditor, court records show.
|
|
Despite the drop in Treasuries holdings, the world's second-largest economy remained the largest U.S. creditor.
|
|
Even so, the current stand-off appears to be driven more by the inter-creditor disagreement.
|
|
The yen is regarded as a safe haven currency partly because of Japan's net creditor status.
|
|
Oger's creditor banks include Turkey's Akbank and Garanti, as well as Isbank, Turkey's largest listed lender.
|
|
But, right now, creditor recoveries are fairly similar for companies with and without private equity sponsors.
|
|
At least 2000 publicly traded companies have filed for creditor protection since the start of 2200.
|
|
PROMESA, in its current form, would delay debt payments and enact a stay on creditor litigation.
|
|
As the company's biggest creditor, he ended up owning the company in its post-bankruptcy incarnation.
|
|
"Everyone on the creditor side is very frustrated," said a senior official involved in the attempts.
|
|
Previously, the Republican candidate's yacht was sold to a creditor and then bought by Al-Waleed.
|
|
If you can't, work out a payment plan with your creditor before it goes to collections.
|
|
The court has handled creditor claims against AHAB and began a liquidation process for Saad Group.
|
|
"It's encouraging," said one creditor source, who declined to be named in order to speak frankly.
|
|
Montreux Partners LP, another large creditor, will be paid nearly $298.7 million, according to court papers.
|
|
A creditor committee is due to meet in August to decide on the company's possible reorganisation.
|
|
Elliott is already a major creditor of Energy Future Holdings, the owner of most of Oncor.
|
|
"There are multiple tax as well as nontax benefits to this, like creditor protection," he said.
|
|
As long as the creditor says you owe money, the dispute is resolved in their favor.
|
|
China, which remained the bigger U.S. creditor, owned $140.63 trillion of U.S. government debt in July.
|
|
His successor, likely to come from a more creditor-friendly opposition party, could make significant changes.
|
|
That made the German institution Mr. Trump's biggest creditor — and put the bank in a bind.
|
|
At that point, the creditor withdrew the case, according to N. James Turner, the defendant's lawyer.
|
|
And it has one hugely powerful weapon up its sleeve: it's the American government's biggest creditor.
|
|
But an ARCM request for an adjournment of the creditor vote was not successful on Thursday.
|
|
Last month South Korea's Hanjin Shipping said it would ask creditor banks to restructure its debt.
|
|
One creditor supported the winding up of the company, saying the rescue efforts were not working.
|
|
"In my case, I couldn't make my car payment, and my creditor was calling," MacDonald said.
|
|
CHS confirmed it was a creditor of Seara Ind e Com but declined to give specifics.
|
|
In bankruptcy, when a majority of creditors support a restructuring plan, the plan binds every creditor.
|
|
Germany, which is Greece's main national creditor, says that the I.M.F. must remain in the program.
|
|
The U.K. arm of Toys "R" Us in Februrary entered administration, a form of creditor protection.
|
|
Chinese battery firm Contemporary Amperex Technology's North American lithium unit obtained creditor protection earlier this year.
|
|
Think of this change as a shift in the government's role from creditor to equity investor.
|
|
Creditors are reasonably diversified by name, with the largest creditor accounting for 12% of total funding.
|
|
Elliott Management, which is the biggest creditor of Oncor's parent, has proposed a $9.3 billion price.
|
|
In particular, many fretted about the identity of America's chief foreign creditor — the government of China.
|
|
Avianca Brasil's largest creditor is U.S. hedge fund Elliott Management, with claims of around $500 million.
|
|
Kingfisher's creditor banks are set to auction a company property in India's financial capital Mumbai this month.
|
|
After the case is resolved, each creditor will be able to get a portion of the money.
|
|
Workplace plans also are better protected against creditor claims than IRAs if you're sued or go bankrupt.
|
|
But if the periphery has adjusted, the same is not true of the euro area's creditor countries.
|
|
However, the deal appears to have won him respect from the European Union, Greece's major bailout creditor.
|
|
The American media giant is Ten's biggest creditor through a licensing deal for its blockbuster TV dramas.
|
|
If a person's liabilities exceed the value of their estate, the creditor typically is out of luck.
|
|
By some recent estimates, China has become the world's largest official creditor, surpassing institutions like the IMF.
|
|
He's also being sued for $6.6 million by another creditor who claims he defaulted on a loan.
|
|
Anatel has repeatedly voiced concern about the slow pace at which Oi's creditor protection case is moving.
|
|
Under the proposal made public on Monday, different creditor groups would be treated differently, based on seniority.
|
|
Two-thirds of a creditor class would need to support a plan for it to take effect.
|
|
He upheld a September deadline for a creditor vote, which he announced in a June 9 interview.
|
|
The biggest single creditor of Agrokor is Russia's Sberbank with loans worth 1.1 billion euros ($1.3 billion).
|
|
A creditor source said the auction had been delayed because of weakness in the local property market.
|
|
Czech Republic is a net external creditor, with net external debt at -16% of GDP in 1Q17.
|
|
Banks have signed an inter-creditor agreement to come up with a solution to tackle DHFL's debt.
|
|
That deal made Proctor the biggest creditor in the bankruptcy, holding 60 percent of the allowed claims.
|
|
The UAE's existing insolvency law does not provide for the rehabilitation of distressed companies through creditor agreements.
|
|
Instead, Washington spends excessively and winds up relying on China, our biggest creditor, to keep us afloat.
|
|
Arkansas Business, a weekly journal, noted that Rogers was facing $50 million in creditor and investor claims.
|
|
The challenge was brought by a creditor called LSW GmbH, Steinhoff said, without giving reasons behind it.
|
|
Canyon is also an Ambac creditor, with $259 million of exposure to its bonds, according to filings.
|
|
The yen tends to strengthen during times of economic stress as Japan is the world's largest creditor.
|
|
Canyon also is a creditor of Ambac's, with $259 million worth of exposure to the insurer's bonds.
|
|
But skipping the big payments due in May and July would probably mean many more creditor lawsuits.
|
|
Hanesbrands also set aside $14 million for what it expects to lose as a creditor of Sears.
|
|
As a result, Mitsotakis had a good story to tell the German chancellor, his most important creditor.
|
|
"We think it (creditor group) will come together soon," the member of the group said, requesting anonymity.
|
|
By working with your creditor, instead of hiding from them, you're more likely to find some leniency.
|
|
The draft bill would shield the government from creditor lawsuits in the case of a major default.
|
|
Okubo noted that South Korea is a net creditor with its financial institutions dependent on foreign credit.
|
|
He added that 50 more mills that have yet to file for creditor protection could simply collapse.
|
|
Noble is also seeking support from its senior creditor, Deutsche Bank and trade finance provider, ING Bank.
|
|
Elliott Management, which is the biggest creditor of Oncor's parent, is proposing a $9.3 billion price. Overstock.
|
|
Billionaire Lampert is the largest shareholder and creditor of Sears through his hedge fund, ESL Investments Inc.
|
|
Since both creditor and debtor alike are involved, social investors could have an interest in injecting further capital.
|
|
Oger's roughly 30 creditor banks include Turkey's Akbank and Garanti, as well as Isbank, Turkey's largest listed lender.
|
|
The Paris Club is a group of creditor nations which aims to fix debt problems of other countries.
|
|
It is the largest unsecured creditor in the case and can potentially influence how SunEdison's bankruptcy moves forward.
|
|
The oversight board has made a series of decisions that most Puerto Ricans consider far too creditor-friendly.
|
|
Republicans, generally seen as creditor-friendly, nominated a bankruptcy academic who favors restructuring the island's debt, David Skeel.
|
|
"We hope that the issue will be resolved because we are a big creditor to him," Kostin said.
|
|
However, this compares unfavourably with the median net external creditor position of its rating peers (244% of GDP).
|
|
It is Cuba's largest creditor and debt is regularly restructured, though amounts and terms are considered state secrets.
|
|
The group has previously referred questions to the refinery's major creditor, Russian lender Sberbank Sberbank declined to comment.
|
|
"That annoyed me," one creditor source said, noting that the board has still not hired an executive director.
|
|
The government on Thursday launched creditor voting on a restructuring plan involving Puerto Rico's insolvent Government Development Bank.
|
|
However the Kuwaiti fund, an unsecured creditor, refused to join secured creditors in the proposed debt freeze agreement.
|
|
A creditor of a subsidiary of Emas Chiyoda filed a court petition this month to liquidate the unit.
|
|
But Mark Bostick, trustee for the bankruptcy, said the largest creditor may turn out to be American Express.
|
|
The yen tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation.
|
|
Behind the scenes, Elliott has used its dominance as a creditor to influence the dispute over the routes.
|
|
It is true that China has been fastidious in capping its external liabilities (it is a net creditor).
|
|
The yen tends to benefit from geopolitical or financial stress as Japan is the world's biggest creditor nation.
|
|
In most financial restructurings, it seems fair to ask every creditor to bear a share of the burden.
|
|
Next would be any other creditor to whom Epstein owed money, such as a bank or mortgage company.
|
|
Today Mr. Albrecht's widow is a creditor in the bankruptcy, in line with medical suppliers and unpaid workers.
|
|
The bill would bar creditor lawsuits and give Puerto Rico certain restructuring powers normally available only in bankruptcy.
|
|
Puerto Rico recently defaulted on a major payment – leading to the first of likely many more creditor lawsuits.
|
|
Seeking to meet creditor demand, Greece offered on Tuesday to automatically cut spending if bailout targets are missed.
|
|
The data are available on the website of the main creditor of Greece — the European Stability Mechanism (ESM).
|
|
"The court of Rome has admitted the company to the creditor protection procedure," Astaldi said in a statement.
|
|
A creditor had called, checking on his next payment for the baking equipment he'd bought two years earlier.
|
|
Every case he has answered with one of those letters has been withdrawn by the creditor, he said.
|
|
In 2013, as Greece became increasingly subject to creditor budget restrictions, the Chinese spent freely on Greek assets.
|
|
Uncle Sam has to borrow nearly $300 billion this week as it fights with its biggest creditor, China.
|
|
But Burns, the attorney, warned that such a strategy could backfire, generating a creditor claim against the estate.
|
|
A much larger group of creditors, represented by the "unsecured creditor committee," issued an even more blistering response.
|
|
Outside bankruptcy even one creditor can undermine the restructuring plan by insisting on a better deal for itself.
|
|
Under the new offer, iHeart is offering various packages to creditors, depending on the degree of creditor participation.
|
|
Currently, China is listed as an ad hoc participant of the Paris Club, a collection of creditor nations.
|
|
The likes of Germany, Italy and France have already tweaked the creditor hierarchy in their own ways, for example.
|
|
If you've been contacted by a creditor or collector, the first thing to do is to not freak out.
|
|
Its corporations and banks are global in scale, it is a major investor and the world's largest creditor nation.
|
|
It is the world's largest official creditor, more than twice as big as the World Bank and IMF combined.
|
|
That means Agrokor's biggest single creditor, Sberbank, is soon to become its largest shareholder with a 39.2 percent stake.
|
|
Carter World Tour costumes shuttered its US operations on Friday while looking for a creditor to salvage the business.
|
|
But with the ban still in place, CBS - Ten's biggest creditor - stepped in, prompting a legal challenge from Gordon.
|
|
Oger's roughly 30 creditor banks include Turkey's Akbank and Garanti, with $1.5 billion and $951 million of exposure respectively.
|
|
Under the deal, Agrokor's biggest single creditor, Russia's Sberbank will become the largest shareholder with a 39.2 percent stake.
|
|
If the creditor does not choose to make, or allow, his share of the adjustment, he suffers no inconvenience.
|
|
Wanda's onshore local currency notes also have various creditor protection measures that could be triggered by non-payment events.
|
|
Investors flock to the perceived safe-haven asset in part because of Japan's status as a net creditor nation.
|
|
And taking the private sector into account, Japan as a whole is a major net creditor, not a borrower.
|
|
Depending on the state in which you reside, your IRA may or may not be subject to creditor protection.
|
|
Further, a state court in Maryland recently ordered him to pay $2000 million to another creditor, Democracy Capital Corp.
|
|
China, which has extended a total of $60bn in loans over the past 20 years, is its biggest creditor.
|
|
Creditor countries, led by Germany, have said that they will not accept greater risk-sharing without greater risk-reduction.
|
|
Another vessel, the Hanjin Rome, was seized in Singapore late on Monday by a creditor, according to court information.
|
|
The yen is seen as a safe haven because of Japan's status as the world's largest net creditor nation.
|
|
But many are incompatible with one another, and creditor countries like Germany have no desire to increase their liabilities.
|
|
The bailouts seemed to inflame already strained relations between creditor nations in the north with its indebted southern nations.
|
|
Wanda's onshore local-currency notes also have various creditor protection measures that could be triggered by non-payment events.
|
|
"You can negotiate with the original creditor, but it's usually easier once the debt goes to collections," Cohen said.
|
|
Class A is the senior ranking controlling creditor, with the junior notes ranking lower, resulting in a 'Midrange' assessment.
|
|
"The corporation in the end should be not so much a creditor as a moderator of loans," Medvedev said.
|
|
Or, ask the creditor to waive the fee — surprisingly many consumers are successful when requesting a fee waiver. 2.
|
|
The full report, "Retail Bankruptcy Enterprise Values and Creditor Recoveries: Fitch Case Studies--5003th edition," is available at www.fitchratings.com.
|
|
The lender in turn is Huishan's second-largest creditor, with some $262 million on the line, according to Caixin.
|
|
The yen was again lifted by safe-haven flows, as befits Japan's position as the world's largest creditor nation.
|
|
Algoma, bought nearly a decade ago by Essar Global, was put up for sale while operating under creditor protection.
|
|
Money from a sale would be held aside to cover creditor claims, including any damages after the appeals process.
|
|
NS) lenders are considering a plan to resolve its debt issues, top creditor State Bank of India (SBI) (SBI.
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Earlier this month the floor coverings retailer said it would seek creditor approval for a Company Voluntary Arrangement (CVA).
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But, you're essentially just paying the interest fees to the creditor and your balance really never gets paid off.
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I knew that ignoring the lawsuit was not an option; if the creditor won, they could garnish my wages.
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Under PROMESA, creditor negotiations can be held out of court or through a legal process akin to U.S. bankruptcy.
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Cunliffe said the draft law should stick to the legal principle of "no creditor worse off than in insolvency".
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The bank executive said VTB is also a major creditor of Deripaska's companies which have been hit by sanctions.
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Santander is a major creditor of the supermarket chain, of which Fridman's LetterOne (L1) fund took control last week.
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Charge-off rates represent the level of debt that a creditor has decided it has no chance of collecting.
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De-risked pension annuities also leave retiree assets vulnerable to bankruptcy, litigation and creditor claims, whereas pensions are protected.
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The Mainstreet Bondholders, an organization seeking to represent small investors, expressed concern about the idea of halting creditor lawsuits.
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The yen tends to benefit during times of economic and political uncertainty due to Japan's net creditor nation status.
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Greybull are British Steel's only creditor at the holding company level and have secured their loans against its assets.
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The negotiating tactics of Rossello and the board have jarred investors who expected more creditor-friendly approaches from both.
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"Greece is in a sweet spot ... If you strip out official creditor debt, Greek debt is low," Haidar added.
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It sets an awful precedent if a creditor can benefit more from a company's bankruptcy than from its solvency.
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Restoring your credit limitCall up the creditor and ask for an explanation of why your limit has been lowered.
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If your creditor refuses to work with you, you can file a complaint with the Consumer Financial Protection Bureau.
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In 2012 Aveos obtained creditor protection and laid off its 2,600 Canadian employees, including about 1,700 workers in Montreal.
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The yen is often seen as a haven from risk, given Japan's status as the world's largest creditor nation.
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The money will not be subject to the probate process, though it may be accessible to creditor claims. 5.
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Eric Brunstad, an attorney for HTA creditor Peaje Investments, said HTA would be able to function while paying debt.
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The economy has a strong net external creditor position of 51% of GDP attributable to Belgian households and corporations.
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Both airlines said they had been approached by hedge fund Elliott Management, Avianca Brasil's largest creditor, soliciting the bid.
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In cases where McKinsey itself was a creditor, it will not receive any new distributions, the Justice Department said.
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Lampert, Sears' biggest creditor, has been under fire from the company's unsecured creditors since it filed for bankruptcy in October.
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Anyone who wants to sue the group can instead file a claim to become a creditor in the bankruptcy case.
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The creditor nation usually made the rules of the new system (Britain in the 19th century, America in the 20th).
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SEC rules require brokerages to hold customer money in segregated accounts that are shielded from creditor claims against the bank.
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The full report, "Retail Bankruptcy Enterprise Value and Creditor Recoveries: Fitch Bankruptcy Case Studies - 10th Edition," is available at www.fitchratings.
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Japan, on the other hand, has run a surplus since 1981 and is now the world's biggest net international creditor.
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However, its position compares unfavourably against the median net external creditor position of its 'A' range peers (21103% of GDP).
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And the government itself is a creditor to telecoms companies, having agreed to spectrum bills being paid slowly over time.
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Separately, a Seville court rejected on Monday international creditor challenges to a standstill agreement protecting the restructuring process in Spain.
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That is on top of about $1.1 billion in liabilities Lampert, Sears' biggest shareholder and creditor, previously agreed to assume.
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"No creditor can judicially execute on PDVSA properties, including Citgo," Jose Ignacio Hernandez, Guaido's overseas legal representative, wrote on Twitter.
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This symbiotic relationship allowed China investment to expand while the United States benefited from a ready, willing and able creditor.
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Net external debt (-20153% in 2014) is set to decline further into negative (ie net creditor) territory as a result.
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The plan includes selling a majority stake to a consortium led by SBI, the airline's biggest creditor, at 1 rupee.
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Friday's statement laid bare creditor animosity for Tanure, an investor with a mixed and litigious track record in past restructurings.
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Still, reducing the size of Oi's creditor list could help management focus on negotiating with banks and bondholders, he said.
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Against the yen, which tends to rise at times when risk appetite falls, partly because of Japan's net creditor status.
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This resulted in the country becoming a net external creditor (net external debt was estimated at -11% at end-2016).
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Such an auction is likely to occur should a creditor deal not be reached and the company be liquidated instead.
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The worst thing you can do when you can't afford to pay is to ignore your creditor, industry observers say.
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Japan is now reportedly the top creditor for the U.S. government, edging out China for the first time since 2017.
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If I got a letter from a creditor, I just scanned it and send it to the debt settlement company.
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Fitch forecasts Malaysia's net external creditor position to remain in line with the 'A' median at the end of 20163.
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All creditor nations would be ready to take urgent steps, such as debt restructuring, needed to end the catastrophic hyperinflation.
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This should include the name of the creditor, the amount owed and a notice that you can dispute the debt.
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According to the political opposition and other critics, that was because creditor representatives were in Athens and would have objected.
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The plan, for example, would hold off creditor lawsuits while the restructuring is underway, a central feature of bankruptcy court.
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Britain ends the war still having the empire and the navy, but the United States ends as a creditor country.
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However, the creditor groups said they were concerned there was "a shortfall in collaboration" on the part of the government.
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The creditor countries aren't seriously suggesting that the West send sacks of gold bullion every year to India or Nigeria.
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The creditor, the National Collegiate Student Loan Trusts, holds $12 billion in student loans that were originally made by banks.
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Premier Oil said in a statement that it will hold a creditor meeting to vote on the scheme on Feb.
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If you are 30 days late on a payment, your creditor will likely contact you via phone, letter or email.
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About five years ago, the Cuban government began steadily restructuring those loans with creditor countries and received large debt forgiveness.
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Following his death, the company was forced to close and applied for creditor protection with the Nova Scotia Supreme Court.
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On the other is Paul E. Singer, the hedge fund mogul whose firm is the biggest creditor of Energy Future.
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The deals, which Lampert maintains were proper, helped make him the company's largest creditor, in addition to its biggest shareholder.
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Japan is the world's biggest creditor country and there is an assumption that investors there will repatriate funds in a crisis.
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The country emerged from the biggest economic rescue in history in late August after almost nine years of creditor- mandated austerity.
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Since Puerto Rico filed for bankruptcy, creditor groups have litigated fiercely over who has first claim on the island's limited cash.
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After a marathon 15-hour meeting in Rio de Janeiro, three of four creditor classes voted nearly unanimously for the plan.
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The Japanese currency tends to benefit during periods of geopolitical or financial stress as Japan is the world's biggest creditor nation.
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Some jurisdictions are more favorable than others for these strategies, due to nuances in creditor protection laws and state income taxes.
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It is due to present a new strategy plan to the court as part of creditor protection proceedings by Feb. 14.
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The new rules give any creditor owed 100,000 rupees ($1,560) the right to drag a multi-billion dollar company to court.
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|
"When MtGox was operational, I generally had a great experience with the site," one Minneapolis-based creditor said in an email.
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|
"This has transformed China into the largest official creditor, easily surpassing the IMF or the World Bank," the report's researchers said.
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Elliott, Energy Future's largest creditor, wants to convert the company's debt into equity and eventually put Oncor under the fund's control.
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|
We expect the current account to record small deficits over the forecast horizon, gradually eroding Cote d'Ivoire's estimated net creditor position.
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Their plan: file for Chapter 11 creditor protection to shed debt and raise cash so they can spend and invest again.
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Russia, alongside China, has become a creditor of last resort for Caracas, lending it billions of dollars as its economy implodes.
|
|
Toshiba is also currently in talks with its creditor banks, who are expecting details on the writedown over the coming days.
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|
This could include letting B2B buyers flexibly choose payment terms and reducing the bookkeeping hassle by acting as a single creditor.
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|
More than 200 energy companies have filed for creditor protection since the beginning of 113, according to Haynes and Boone LLP.
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The government will also sort through all the creditor claims, mainly from Serbia but also from a number of Greek investors.
|
|
By 2010, China surpassed Japan as the world's second largest economy, inching closer to the US, and becoming America's largest creditor.
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|
The announcement comes just a day after the island was hit with multiple creditor lawsuits after a stay on litigation expired.
|
|
A source familiar with the deal told Reuters the recovery of the creditor claims was expected to be around 50 percent.
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Creditor meetings to vote on the CVA proposals are expected on June 1, with the process projected to complete in July.
|
|
BHS needs to secure at least 75 percent creditor approval at a March 23 vote for the CVA to go through.
|
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National has also asked the court to appoint a receiver for PREPA, support among other creditor remains unclear following Friday's announcement.
|
|
The group said on Friday that it asked creditor banks a standstill agreement for the time needed to renegotiate its debt.
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|
He favours the remedy, first proposed by John Maynard Keynes, of forcing creditor countries to adjust by taxing their trade surpluses.
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|
In addition, she said a creditor would do well to get that in writing to later contest efforts to discharge debt.
|
|
VTB was a major creditor of the North-West Timber Company, the St. Petersburg business founded by the Bitkovs in 1997.
|
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The SoHo ended up in foreclosure and was taken over by a creditor, although the Trump name remains emblazoned on it.
|
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Japan is the world's biggest creditor nation and there is an assumption investors there will repatriate funds should a crisis eventuate.
|
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Payments made in 2009 were a misappropriation of Singularis' funds, leaving it unable to meet creditor demands, the Supreme Court said.
|
|
South Korea's second-biggest full-service carrier has been battling low-cost rivals and mounting debt, resulting in creditor-led restructuring.
|
|
The reorganized Peabody will have a nine-member board including the CEO and three directors chosen by the main creditor groups.
|
|
But there are many ways that China, America's biggest foreign creditor and its third-largest export market, could intensify its response.
|
|
That division dispensed more than $300 million of loans to Mr. Trump and his companies, making Deutsche Bank his largest creditor.
|
|
Elliott, the largest creditor in one of the company's main impaired classes of debt, had said it would reject Berkshire's deal.
|
|
The Title III proceedings have already stayed previous creditor lawsuits so the various parties can come together in a consolidated case.
|
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The result is retirees get a better deal than almost any other creditor group: at least 91.5 cents on the dollar.
|
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The result is retirees get a better deal than almost any other creditor group: at least 91.5 cents on the dollar.
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|
"Now, partly in response to recent debt activism, some borrowers are pushing to impose limits on traditional creditor remedies," he said.
|
|
That would presumably add highway and bridge tolls to the pot of money to ultimately be divided among various creditor groups.
|
|
VTB, a large creditor to Agrokor, said it had created extra loan-loss provisions in the first quarter for Agrokor's debt.
|
|
They could better protect their creditor rights by returning to the negotiating table looking to assist in turning on the lights.
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The country's third biggest builder Condotte SpA filed for creditor protection earlier this year, while contractor Trevi Finanziaria is restructuring debt.
|
|
Officials allege that Rio de Janeiro-based Oi's in-court reorganization is making slow progress because of shareholder and creditor rifts.
|
|
Wholesale banks' foreign assets support Bahrain's net external creditor position (46% of GDP), well above that of the median 'BB' country.
|
|
In recent months, Korea Development Bank discussed arranging a merger between Hyundai Merchant Marine (HMM), itself under creditor-led debt restructuring.
|
|
Following Cotten&aposs death, Quadriga CX was forced to close and applied for creditor protection with the Nova Scotia Supreme Court.
|
|
The company heavily relies on Bank of Georgia (BB-/Stable), by far the largest creditor and key relationship bank, for refinancing.
|
|
It said it is negotiating an additional $300 million in financing from ESL, which is the company's largest shareholder and creditor.
|
|
Argentina says it needs to rejig $100 billion in debt, including $44 billion owed to the fund, its biggest single creditor.
|
|
But, the stress of the crisis fueled lingering bitterness between crisis countries, like Greece and Italy, and creditor countries, like Germany.
|
|
Bitcoinica had kept customer deposits at Mt. Gox, so the New Zealand exchange became yet another creditor in the Japanese bankruptcy.
|
|
Compensation paid to now-defunct companies could pass to RBS, due to the bank being a creditor of the former businesses.
|
|
Three of HMIT's company officers, including Gadiyaram, were arrested in 2015 after a specific allegation of not paying back a creditor.
|
|
Russia, like China, has become a creditor of last resort for Caracas, lending it billions of dollars as its economy implodes.
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|
Just realize it might take a few days to get it off, so make sure you give your creditor a heads up.
|
|
Because of Japan's status as a net creditor nation, the yen tends to be bought on rising geopolitical tensions and vice versa.
|
|
However, EU enjoys preferred creditor status equivalent to other multilateral development banks; it has never suffered a loss on its loan portfolio.
|
|
CEOC said the financing is a condition to fund creditor recoveries under the plan, "among other things" which it did not specify.
|
|
The euro-zone debate may yet be derailed or diluted by restive parliaments in creditor countries battling ghosts of their own imagination.
|
|
He said litigation would add to the government's pile of bills and possibly increase frictions between have and have-not creditor groups.
|
|
When questioned further, they said it was still too soon to reveal how much relief they would seek from each creditor group.
|
|
The euro zone crisis prompted bailouts of Greece, Ireland, Spain, Cyprus and Portugal, financed in large party by Germany, Europe's biggest creditor.
|
|
As part of the deal, a unit of Tata Steel is paying 352.33 billion rupees ($5.18 billion) to Bhushan Steel's creditor banks.
|
|
The crisis exposed the depth of the divide between creditor and debtor countries: northern voters simply will not pay for fecklessness elsewhere.
|
|
The approval was granted by the Ontario Superior Court of Justice, which also extended creditor protection for Sears Canada to Jan. 13.
|
|
The OSX3 FPSO is owned by OSX3 Leasing BV, the OSX Brasil unit that is also under creditor protection in the Netherlands.
|
|
"I don't have regrets," one creditor, who asked to be identified only by his last name, Bartels, told me in an email.
|
|
Their plan would likely hand some of the thorniest creditor issues to a new, independent oversight board which does not yet exist.
|
|
Alignment of creditor hierarchies across member states will reduce the risk of legal challenges, particularly for resolution of cross-border banking groups.
|
|
BNDES's dual roles as representative of the scandal-plagued government and a creditor and shareholder of JBS are "suspicious," one investor said.
|
|
Stefanel is set to receive another 15 million euros in new funds from creditor banks and from Oxy Capital and Attestor Capital.
|
|
Despite indications to the contrary, senior Puerto Rico officials of the commonwealth are not actively negotiating with many creditor groups, he added.
|
|
This greatly reduced potential balance-of-payments and exchange rate risks arising from currency mismatches between the estates' assets and creditor claims.
|
|
The conditions attached to such support have caused relations between creditor countries such as Germany and debtors such as Greece to sour.
|
|
It last week won court approval to close 11 stores and sell some businesses, and to extend creditor protection to Nov. 7.
|
|
Other creditor groups in the bankruptcy are also trying to invalidate pension bonds and debt sold by the island's Public Buildings Authority.
|
|
The plan was approved almost unanimously in three of four creditor classes after a marathon 14-hour meeting in Rio de Janeiro.
|
|
Watling now claims lenders are using tricks like labelling loan collateral as revenue in their balance sheets, rather than as a creditor.
|
|
At least half of this amount, which is disputed by Abengoa's creditor banks, should be funded through asset sales, the sources said.
|
|
A stay of execution, which protects Oi from creditor suits while it devises a plan to avoid bankruptcy, will expire in May.
|
|
"The IRS is unlike any other creditor," said John Heath, directing attorney for Lexington Law, which provides credit repair services for individuals.
|
|
The offer, which must be approved by Astaldi's creditor banks, includes a 210 million euro capital increase reserved for Salini in cash.
|
|
"I'm satisfied there's sufficient creditor support to win confirmation," Judge Brendan Shannon said in U.S. Bankruptcy Court for the District of Delaware.
|
|
The creditor committee includes representatives from Air Berlin, the federal labour office which is currently paying staff wages, Commerzbank and Lufthansa's Eurowings.
|
|
Assured expressed frustration over the plan last week, telling the board in a letter the projections had been reached without creditor input.
|
|
We forecast Germany's net external creditor position to strengthen further, to 25% of GDP in 2017 from close to 16% in 2015.
|
|
The rival bid for Oncor was disclosed on Friday by Energy Future's biggest creditor, billionaire Paul Singer's hedge fund Elliott Management Corp.
|
|
"At the end of the day, giving rightful credit doesn't just help you, it makes your creditor look good, too," Bennett says.
|
|
It was not in the house, nor at Ranka Jewellers; rumour had it that a creditor from Mumbai had taken it away.
|
|
The euro zone's jerry-built financial architecture does so twice over, by sidestepping the fears of those in creditor and debtor countries.
|
|
Troubled container shipper Hanjin Shipping on Wednesday filed for court receivership after creditor banks decided to end financial support, according to Reuters.
|
|
In a direct loan, Blackstone is a senior creditor, which makes the firm likely to get paid if the company went bankrupt.
|
|
The appeal underscores the dissenting agendas of different creditor groups participating in Oi's restructuring, and how their disagreements are hampering the process.
|
|
By Mr. Stiglitz's reckoning, the common currency has made economic inequality worse while dividing Europe into two adversarial camps — debtor and creditor.
|
|
Hanjin filed for court receivership on Wednesday after its creditor banks decided to end financial support for South Korea's top container shipper.
|
|
Lampert, who is Sears' largest creditor, said his plan would keep 425 stores open, rather than the 20053 stores he proposed earlier.
|
|
Outside of the bankruptcy case, Puerto Rico has secured overwhelming creditor approval for a plan to restructure its Government Development Bank debt.
|
|
The government is all for Oi to negotiate a "market-based solution" that helps it emerge stronger from creditor protection, he said.
|
|
"Everyone agrees that the term embraces the repo man — someone hired by a creditor to collect an outstanding debt," Justice Gorsuch wrote.
|
|
We believe T2R retains an option to diversify into a wider creditor base after its leverage and financial performance stabilise in 103.
|
|
This should provide the framework for an orderly and fair restructuring of the island's debt without rancorous and economically-damaging creditor lawsuits.
|
|
Sofaz itself is listed as a creditor in IBA's restructuring proposal as a holder of two dollar-denominated deposits totalling USD1 billion.
|
|
Quadriga CX said in February that the court had appointed an independent third-party monitor, EY, to oversee its creditor-protection proceedings.
|
|
The unsecured creditor committee, or UCC, seeks to halt the agreement, arguing it violates the commonwealth's court-ordered bankruptcy stay and PROMESA.
|
|
The creditor committee is made up of Arab National Bank, Dubai Islamic Bank, Emirates NBD, Mashreq and National Bank of Abu Dhabi.
|
|
Abengoa must reach the 75 percent level of creditor support by the end of October under a court decision earlier this year.
|
|
But the Republican governor insisted he would take on difficult issues complicating Washington's relationship with its largest trading partner and major creditor.
|
|
It said it had agreed over a plan to renegotiate its debt, which it expects would be approved by all the creditor banks.
|
|
The debt corresponds to back fines and levies that Oi failed to honor before filing for creditor protection on June 20 last year.
|
|
Britain has a corporate model that is very friendly to investors, with dispersed share ownership, an active takeover market and strong creditor rights.
|
|
Japan is the world's biggest creditor nation and its currency benefits when Japanese investors repatriate funds in times of financial or geopolitical stress.
|
|
Italian clothing group has submitted to the court the request to push back 2300 days the deadline for filing a creditor protection plan.
|
|
Germany, which is the eurozone's biggest creditor nation, is unlikely to agree to such pressures ahead of its own elections later this year.
|
|
The dollar was 0.75 percent lower , which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation.
|
|
Creditor protection is further strengthened through LGFA lending to councils that is secured via a charge over the council's rates and rates revenues.
|
|
State-funded Korea Development Bank, the lead creditor of Asiana Airlines — the country's second-biggest carrier after Korean Air Lines — declined to comment.
|
|
Mallya, once known as the "King of Good Times", left India on March 2 as Kingfisher's creditor banks stepped up pressure on him.
|
|
An agreement may only take place ahead of a creditor assembly slated for early next month, Schroeder told reporters in Rio de Janeiro.
|
|
A new company called Meta View has purchased the old Meta's assets, which were sold when Meta's creditor unexpectedly foreclosed on its loan.
|
|
Wild card: Eddie Lampert, the company's CEO, largest shareholder and largest creditor, who believes a bankruptcy filing could be Sears' reputational death knell.
|
|
The yen is considered a safe haven asset in times of geopolitical and financial turmoil as Japan is the world's biggest creditor nation.
|
|
Wonga said in an email that it had decided to place a number of its operations into administration, a form of creditor protection.
|
|
DeAngelo Vehicle Sales LLC, a McAdoo, Pennsylvania-based creditor, is suing Peterson, alleging he had failed to fully repay a $21 million loan.
|
|
Last week, it won court approval to close 11 more stores and sell some businesses, and to extend creditor protection to Nov. 7.
|
|
PK argued that filing wiped him from Kirzis' debt, but Kirzis notes he was never listed as a creditor in PK's bankruptcy case.
|
|
But if every creditor pursues that course, Venezuela will never recover, and without debt restructuring, the IMF may not be willing to lend.
|
|
S. Attorney Barbara McQuade said in January that if Takata filed for bankruptcy, the Justice Department would be a creditor in the restructuring.
|
|
The business, OKD, which owns the country's only hard coal mines, is the latest miner worldwide to seek creditor protection amid slumping prices.
|
|
While it was unclear which transactions the committee was studying, Seadrill made some amendments to secured credit facilities before filing for creditor protection.
|
|
The platform, which allows the trading of Bitcoin, Litecoin and Ethereum, filed for creditor protection in the Nova Scotia Supreme Court last week.
|
|
The closure of the $12.9 billion deal, signed last year, has been held up by creditor banks to Essar and some regulatory approvals.
|
|
The bondholders are Oi's main creditor and account for more than a third of the carrier's 65.4 billion reais ($21 billion) in liabilities.
|
|
The flight to safety lifted the yen, which often gains at times of stress thanks to Japan's position as the world's largest creditor.
|
|
Hyundai Merchant Marine is currently in creditor-led debt restructuring but its banks may consider providing it with fresh funding, the regulator added.
|
|
And when a player doesn't repay the loans, Las Vegas has power to employ a tool unavailable to most every other creditor: jail.
|
|
Going from an almost non-existent engagement with the continent pre-20153s, China is now the region's largest economic partner and nation creditor.
|
|
The country's high structural current account surplus (7% of GDP on average over 2011-2015) has supported the country's net external creditor position.
|
|
The lawyers spoke on condition of anonymity because creditor groups' official replies to Peabody's lawsuit have not yet been filed with the court.
|
|
Chesley countered that the cash was held by Abengoa units that had few creditor claims, and the excess rightfully belonged to the parent.
|
|
Schroeder said Oi will present an amended debt restructuring plan next month and put it to a creditor vote between April and June.
|
|
Just because somebody is calling you frequently doesn't mean they are your most important creditor, said Kuehnhoff of the National Consumer Law Center.
|
|
Japan is the world's biggest creditor nation, and its currency benefits when Japanese investors repatriate funds in times of financial or geopolitical stress.
|
|
The new provision curbs Credit Default Swaps (CDS) holders' ability to call a default by removing their right to vote on creditor decisions.
|
|
Rusagro acquired all existing debt, as well as around 20 percent of shares of the Razgulay Group from Razgulay creditor VEB last year.
|
|
The approved creditor claims are equivalent to around 12.6 billion yen in bitcoins, with about 27.5 billion yen in bitcoins still on hold.
|
|
So far, PES has been denied requests for payment, and at least one creditor has surfaced to fight for any future insurance proceeds.
|
|
The deal between the two biggest creditor classes, General Obligation (GO) bondholders and COFINA bondholders, includes appointment of an agent for each side.
|
|
Elliott is a major creditor of Energy Future Holdings, which owns most of Oncor and has been working its way through bankruptcy court.
|
|
You'll want to get it in writing from either the debt collector or the original creditor that you no longer owe that debt.
|
|
The flight to safety lifted the yen, which often gains at time of stress thanks to Japan's position as the world's largest creditor.
|
|
Take the night Amanda went to sleep early and was awakened by what she described as "an intense creditor knock" on the door.
|
|
Creditors' demands for immediate payment would be halted for 18 months, for example, much as creditor lawsuits are automatically stayed in bankruptcy cases.
|
|
The company earlier this year won a temporary reprieve from creditor banks on its debt-servicing obligations citing the deals in the works.
|
|
The yen, a favoured harbour in times of stress due to Japan's position as the world's largest creditor nation, climbed across the board.
|
|
Elliott Management, Oncor's largest creditor, said Monday that it is considering a $9.3 billion counteroffer that would value the company at $18.5 billion.
|
|
"This is not so much a melting ice cube, but a puddle," a lawyer for a large creditor told the federal Bankruptcy Court.
|
|
They allow regulators to make sure that the advisers retained by bankrupt companies are not improperly favoring one creditor or bidder over others.
|
|
At the end of September, the company had almost $500 million in cash and an available $900 million credit line, the creditor said.
|
|
Two weeks later, she got a second summons also seeking payment — to a different creditor, for a different amount — on the same loan.
|
|
Already Energy Future's biggest creditor, Elliott has been putting together its own takeover offer, which would involve converting its debt holdings into equity.
|
|
The estate holds $7 billion of assets, much of it cash, as it works through hundreds of remaining creditor claims and legal disputes.
|
|
Restructuring talks are ongoing between GDB and a creditor group holding more than $1 billion of its roughly $4 billion in total debt.
|
|
By the time Mr. Trump was sworn in as president, he owed the bank more than $300 million, making it his largest creditor.
|
|
It's also pretty clear what it would take to fix the euro: an increased sharing of economic burdens between creditor and debtor countries.
|
|
Its biggest outstanding creditor was the United States Soccer Federation, to which ChampionsWorld had to pay sanctioning fees for each match it ran.
|
|
The retailer said it was close to striking a deal with creditor banks and majority shareholder Fosun about a new loan until 215.0.
|
|
DeAngelo Vehicle Sales LLC, a McAdoo, Pennsylvania-based creditor, is suing Peterson, alleging he had failed to fully repay a $5.2 million loan.
|
|
The government says it needs to rejig $100 billion in debt, including $44 billion in loans to the fund, Argentina's biggest single creditor.
|
|
By the far the biggest mover was the yen, long considered a safe haven given Japan's position as the world's top creditor nation.
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Sears clinched a $350 million loan from creditor Cyrus Capital Partners LP in November to help it stay in business through the holidays.
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The company will have to show some other reason for needing to reorganize, and that it's not just trying to stiff a single creditor.
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Puerto Rico, facing $70 billion in debt, is trying to climb out of economic crisis by reaching consensual restructuring deals with various creditor groups.
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Luxembourg has a strong net external creditor position of 2,283% of GDP, mainly accruable to the international banks, investment funds and multi-national corporations.
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On Monday, some traders were concerned that China, the largest foreign U.S. creditor, could dump Treasuries to counter the Trump administration's hardening trade stance.
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The pair had expressed interest in buying Ten but U.S. television giant CBS, the Australian network's biggest creditor, surprised them by announcing on Aug.
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Atvos decided to file for bankruptcy for its wholly-owned subsidiary after creditor Lone Star Funds got a court decision blocking its cash position.
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As the sole secured creditor of Interview, Brant presided over Interview's sale to himself as a new holding company, Crystal Ball Media, debt-free.
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At 65.4 billion reais ($19.4 billion), Oi's petition is fraught with challenges due to a complex capital structure and wide creditor base, analysts said.
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The group's operations will be split in two as part of the Chapter 11-like creditor protection programme it is under, Il Messaggero said.
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CHS, the largest creditor of Seara, had at one point engaged in talks to buy the company, said two people with knowledge of talks.
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Many new "out of court" workouts will in fact require judges' rulings because the state, often the biggest creditor, will object to banks' plans.
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A focus for the unsecured creditor committee, which filed a roughly 100-page objection against Lampert, will be deals Lampert did under his tenure.
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Though Republicans are generally seen as creditor-friendly, Skeel, a restructuring industry veteran, has repeatedly called for a broad-based restructuring in Puerto Rico.
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"What investor or creditor is going to engage in a plan to save the company with a knife on their necks?" said the person.
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Earlier this month, the creditor of a property firm owned by the Tianjin municipal government said the company had defaulted on two trust loans.
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Few signs of a clear strategy and market perceptions of creditor clout will make it harder to profitably unwind HNA's $50 billion buying spree.
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LWS GmbH, a company linked to Austrian businessman Andreas Seifert, claims to be a creditor of Steinhoff Europe AG (SEAG), the parent company said.
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In March, the day after a creditor meeting to discuss missed interest payments, its shares plunged 90 per cent in less than an hour.
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"We think that Title III debtors and creditors are better off," said Luc Despins, a lawyer from Paul Hastings who represents the creditor committee.
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The judge, Fernando Viana, acted on a request filed on Thursday by several creditor groups including state-owned banks and bondholders, court documents showed.
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"There was a lot of politics in this situation," said Maxim Poletayev, first deputy chairman of Russian state lender Sberbank, a major Mechel creditor.
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The House's draft bill still contains certain provisions that creditor groups have been fighting, and Natural Resources Committee aides said further refinements were likely.
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But two creditor sources told Reuters they do not want growth bonds, which they see as too hard to enforce in a municipal setting.
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The agreement shows how creditor banks holding a big chunk of Odebrecht's 76 billion reais ($24.34 billion) in outstanding debt are growing increasingly assertive.
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After bondholders with about 34 billion reais of unpaid debt, the government is Oi's largest creditor with a combined 20 billion reais of claims.
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Mobile mortgage specialists, third-party sales channels, cross-selling practices, and creditor insurance products carried especially high risk for abusive sales practices, it added.
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State-run Korea Development Bank, the main creditor of Kumho Asiana group, said creditors held a meeting later Monday to review the revised plan.
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Sears Canada sought creditor protection last month after suffering a steady decline in sales due to competition from big-box retailers and online merchants.
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That registration indicates that its creditor is B.T.A., which made loans valued at seventy-five per cent of the initial investment in the company.
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The territory has run consistent current-account surpluses for nearly two decades and is a net external creditor equivalent to approximately 260% of GDP.
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Lawyers for the bankrupt unit said that negotiations with creditor groups were continuing and that they would present a new plan by June 15.
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Rearranging the existing payment priorities "would have serious consequences on the broader municipal bond market and existing creditor-to-debtor relationships," the summary said.
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The credit bureau is only legally required to check with the creditor or debt collector and ask them whether they stand by their claim.
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Since bankruptcy gives debtors the ability to impose payment cuts over creditor objections, it is seen as a negative for bond markets, Jacoby said.
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The yen tends to acts as a safe haven in times of geopolitical and financial turmoil as Japan is the world's biggest creditor nation.
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And as a result, the U.S., which was a creditor country before we began running persistent deficits since 1980, is now a net debtor.
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Recognizing the territory's inability to repay its debt, and with mounting creditor litigation, Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act.
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" As a result of these distributions, the lawsuit says, "assets are no longer available to satisfy Purdue's future creditor, the state of New York.
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Because Arizona's statute of limitations for breaching a written contract is six years, the creditor had waited too long to sue, the court ruled.
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Country-specific considerations often overlap with the operating environment because we analyse factors including the rule of law, levels of corruption and creditor rights.
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Limiting it to the status of a creditor, rather than a direct owner, would keep it at an arm's length from Toshiba's business secrets.
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In return, Limitless is asking its 18 creditor banks to agree to extend the term of its debt by two years to December 2018.
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Lenders are expected to devise a resolution plan within the 30-day period and also enter into an Inter-Creditor Agreement during this period.
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Development bank BNDES is the group's largest individual creditor, with 7 billion reais in unsecured debts, plus 3 billion reais in debts with collateral.
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Two businesses within the company - Polestar UK Print Limited and Polestar Stones-Wheatons Limited - have since been placed in administration - a form of creditor protection.
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His refusal to do so gives oxygen to claims that he has some has some secret business or creditor relationships with Russia that compromise him.
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Rosneft confirmed that Italian bank Intesa Sanpaolo was a major creditor for the deal and said it would be closed by the middle of December.
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It could also scuttle plans of billionaire Paul Singer's hedge fund Elliott Management Corp, the largest creditor of Oncor's bankrupt parent, Energy Future Holdings Corp.
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BNDES is Petrobras' largest creditor, highlighting the fact that Rousseff used state lenders to help fund Petrobras and foster industrial production, employment and economic growth.
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Andrew Dietderich, an attorney representing Sears creditor Fairholme Capital Management LLC, said the company's many deals over the years resulted in a slow-motion bankruptcy.
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Sears Canada sought creditor protection on June 22 after suffering a steady decline in sales due to competition from big-box retailers and online merchants.
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After the bondholders, state entities including banks and industry regulator Anatel make up the largest Oi creditor group with about 20 billion reais of debt.
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It dumped $41 billion in U.S. debt in October alone, a move that relinquished its ranking as the largest foreign creditor to the United States.
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Moody's Investors Service upgraded CSN's credit rating last week amid expectations that a similar deal may be reached with another state creditor, Caixa Economica Federal.
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Against the Japanese yen , which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar rose 0.35%.
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Going into administration, a form of creditor protection, means it is Britain's most high-profile retail casualty since Phones4U in 2014 and Woolworths in 2008.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar rose 0.18%.
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In addition to more tariffs, traders are concerned China, the largest foreign U.S. creditor, may dump Treasuries to counter the Trump administration's hardening trade stance.
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Japan is the world's biggest creditor nation and there is an assumption Japanese investors may repatriate their foreign holdings in times of heightened global uncertainty.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar rose 0.18%.
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The plan cites the possibility of a debt restructuring that could include new tradeable securities or a structure that ties creditor recoveries to economic growth.
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Schroeder said Oi included an immediate debt-for-equity swap, which he expects will face a creditor vote by June, to accommodate feedback from creditors.
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After the bondholders, state entities, including banks and industry regulator Anatel, make up the largest Oi creditor group with about 20 billion reais of debt.
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A tempting strategy for any individual creditor is to let other lenders take a haircut, wait for Venezuela to recover, then insist on full repayment.
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The second source said that Essar's Indian creditor banks, who include State Bank of India (SBI), must approve a change of control at the company.
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Hanjin Shipping, which had been the world's seventh-largest container shipper, applied for court receivership in late August after its creditor banks halted further support.
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Sberbank, the Russian savings bank which is the biggest single creditor, is owed €1.1bn ($1.3bn) and has initiated a case against Mr Todoric for fraud.
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Commentators say the high-profile case is symptomatic of weak management at India's public sector banks - Mallya's lead creditor is State Bank of India (SBI.NS).
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State-funded Korea Development Bank, the lead creditor of Asiana Airlines - the country's second-biggest carrier after Korean Air Lines Co Ltd - declined to comment.
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The latest data also showed China remained Uncle Sam's biggest creditor in November, holding $1.264 trillion in U.S. government which was the most since August.
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The company said it had applied for creditor protection "with reservation," a type of arrangement in Italy that would allow the company to continue business.
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DUBAI (Reuters) - A creditor of Dubai-based Abraaj has started legal proceedings in the Cayman Islands seeking the restructuring of the private equity firm's liabilities.
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Financiere CEP has expanded its operations beyond creditor protection insurance into mortgage broking through several acquisitions, and has customers in six European markets, Marcellier said.
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Creditor enthusiasm for the changes turned to shell-shock, however, when the board in January began pushing debt cuts even more draconian than Garcia Padilla's.
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Russia, Cuba and, to some degree, Venezuela's major creditor, China, have been using Venezuela as a platform for expanding their strategic interests in the hemisphere.
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This involves the agency doing the creditor negotiations for you and then consolidating your debt into one payment that the agency distributes to the banks.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar rose 0.35%.
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When geopolitics roil financial markets, the yen tends to rise on the view that investors from Japan, the world's biggest creditor nation, will repatriate funds.
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Typically, creditors of a failing company can force a bankruptcy and the United States is effectively a major creditor for banks — guaranteeing deposits and more.
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ESA, bought nearly a decade ago by Indian energy and resources conglomerate Essar Global, had put itself up for sale while operating under creditor protection.
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In a recent study conducted by the agency, 1 in 3 consumers reported having been contacted by a creditor or collector within the last year.
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She said there often is a triggering event — such as a lawsuit filed by a creditor — that makes people realize how much trouble they're in.
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Sberbank is a major creditor to Agrokor, the biggest employer in the Balkans, which is battling to avoid collapse after running up multibillion-dollar debts.
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Much of Southern Europe was overheating, partly because of cheap money drawn in from Northern Europe, leading to a division between creditor and debtor countries.
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The yen tends to benefit during times of crisis due to Japan's net creditor nation status, and the expectation that Japanese investors would repatriate assets.
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Japan is the world's largest creditor nation and traders tend to assume Japanese investors would repatriate funds at times of crisis, thus benefiting the yen.
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On Monday, some traders had been concerned that China, the largest foreign U.S. creditor, could dump Treasuries to counter the Trump administration's hardening trade stance.
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Schroeder added that a creditor assembly to vote on Oi's restructuring plan will probably be held around October, instead of an initial target for September.
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" The fund house also noted Chinese bonds' "defensive characteristics" (investment grade and a from net creditor country) which make them "attractive in a portfolio context.
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But with myriad creditor classes competing for priority, compromise over Puerto Rico - once a rising star of U.S. high-yield muni funds - could be tough.
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Since China is an ally of the Venezuelan regime and its most important creditor, it is unlikely that Caracas would undercut a Chinese oil company.
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In any bankruptcy, the money available to repay debts is limited, so if one type of creditor gets more, the others will generally get less.
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This change can spark a creditor to drop your limit, thinking you must be going through a financial hardship and are an increased credit risk.
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"If you happen to be in a situation where you weren't proactive, then the tables turn and the creditor reaches out to you," says McClary.
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Mineral-rich Quebec has backed upstart miners in hopes of tapping into demand from the electric vehicle boom and ranks as NAL's largest secured creditor.
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He told the IMF's managing director, Kristalina Georgieva, last week that he had a "sustainable" plan to meet creditor obligations as well as maintain growth.
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Mineral-rich Quebec has backed upstart miners in hopes of tapping into demand from the electric vehicle boom and ranks as NAL's largest secured creditor.
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It had less luck against the Japanese yen which tends to benefit during times of market stress as Japan is the world's largest creditor nation.
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"What we have seen is the banks and the regulators slow down housing creditor, it's down to about 5 or 6 percent now," he said.
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The court decision means that Abengoa, struggling under a 9.4 billion euros ($10.7 billion) debt pile, will remain under creditor protection for the time being.
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A currency designed to unite the adversaries of World War II has instead generated fresh divisions — between creditor and borrower; Northern Europe and the Mediterranean.
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The platform, a trading venue for cryptocurrencies such as Bitcoin, Litecoin and Ethereum, had previously filed for creditor protection in the Nova Scotia Supreme Court.
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That effort ended when Hanjin sought court receivership after lead creditor Korea Development Bank halted support, Hanjin Shipping executive Kim Hyun-seok said last week.
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Zambia has said it is looking for new owners for KCM and speculation is strong that China, Zambia's biggest creditor, is the most likely buyer.
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Li risks losing control of the club to his creditor, U.S investment fund Elliott, unless he pays 32 million euros to Elliott by July 6.
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Equally as important, the marketplace had a set of expectations from Lehman that allowed the MF Global failure to rapidly coalesce into distinct creditor constituencies.
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Government-owned Power Finance Corp Ltd (PFC) is the lead creditor of the power plant and PFC's Chairman Rajeev Sharma disclosed ArcelorMittal's bid on Monday.
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Algoma, bought nearly a decade ago by Indian energy and resources conglomerate Essar Global, had put itself up for sale while operating under creditor protection.
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On Tuesday, the company said it was granted creditor protection in the Nova Scotia Supreme Court as it tries to sort out its financial mess.
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"Those of us who were burned by this are now permanently locked into that depressed price," said Gutman, the software developer and Mt. Gox creditor.
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The re-launch failed to succeed and Stefanel, which has been without a CEO since July last year, decided in December to seek creditor protection.
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"No changes in the agreement have been introduced and correspondingly Venezuela must fulfill the obligations it has taken upon itself to the creditor," the ministry said.
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The Italian State will become a senior creditor of the liquidated entity, which means that recovery prospects for junior creditors out of the liquidation are poor.
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Mallya, once called the "King of Good Times" for his extravagant lifestyle, left India on March 2 as the creditor banks stepped up pressure on him.
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The dollar was 0.28 percent lower against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation.
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Zambia remains a net external creditor and much of the external private debt is inter-company and is matched with high levels of private external assets.
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RCom has won a reprieve from its creditor banks on its debt repayment obligations until December 2018 under a restructuring plan, having delayed servicing the loans.
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Against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar was 0.30 percent lower.
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BENGALURU, India (Reuters) - An Indian tribunal, heeding a call from a group of creditor banks, has blocked a $75 million settlement agreed between Diageo Plc (DGE.
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All of Skully's assets are now subject to liens held by a secured creditor, according to the letter, which ended with an apology to those affected.
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China is a creditor of a different magnitude: The country held $1.05 trillion in Treasurys as of November, down by $215 billion from a year earlier.
|
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In addition to more tariffs, traders are concerned that China, the largest foreign U.S. creditor, may dump treasuries to counter the Trump administration's hardening trade stance.
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Without all three elements "the situation could deteriorate rapidly and the company could eventually be forced to file for creditor protection and/or liquidation," it said.
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Related Research Retail Bankruptcy Enterprise Value and Creditor Recoveries (Fitch Case Studies - 21th Edition) here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.
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This has been evidenced not only by the bank's preferred creditor status, but also by the capital injection from all member states to support increased lending.
|
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Toshiba met its creditor banks earlier in the day after it missed the deadline for submitting audited third-quarter earnings for a second time on Tuesday.
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Representatives for Quadriga CX will appear in court Tuesday looking for creditor protection following the death of 22019-year-old Gerald Cotten in India in December.
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Roughly 1 in 3 consumers has been contacted in the past year by a creditor or collector trying to recover a debt, according to the CFPB.
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Representatives for Quadriga CX will appear in court Tuesday looking for creditor protection following the death of 21-year-old Gerald Cotten in India in December.
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China is the primary creditor to just three African countries: Congo-Brazzaville, Djibouti and Zambia, according to the China Africa Research Initiative at Johns Hopkins University.
|
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Separately, CBRC vice-chairman Cao Yu said China established 12,836 creditor committees by the end of last year, to help manage credit of 14.85 trillion yuan.
|
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Creditor committees allow lenders and debtors to negotiate their debt on their own, in order to seek best debt solutions for troubled firms, according to Cao.
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The filing by creditor Alashan Jinzhen Smelting Co Ltd includes Dongbei subsidiaries Dalian Special Steel Co Ltd and Dalian Gaohe Jinbang Xiancun Co Ltd, Xinhua said.
|
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Reuters reported earlier this month that a creditor had taken legal action against CEFC, even as China Development Bank tried to dissuade lenders from taking action.
|
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Euro zone governments have so far disbursed 182 billion euros to Greece, including the amount approved today, making the rescue funds Greece's largest creditor by far.
|
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PK argued that filing made him no longer responsible for Kirzis' debt, but Kirzis notes he was never listed as a creditor in PK's bankruptcy case.
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Japan is also the world's largest net creditor nation, andat times of uncertainty traders assume Japanese repatriationfrom foreign countries will eclipse foreign investors' sellingof Japanese assets.
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Auctus is the second creditor, after Kuwait's Public Institution for Social Security (PIFSS), to start legal action in the Cayman Islands, where Abraaj Holdings is registered.
|
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The Italian state will become a senior creditor of the liquidated bank, which means that recovery prospects for junior creditors out of the liquidation are poor.
|
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Japan is the world's largest creditor nation and traders tend to assume Japanese investors would repatriate funds at times of crisis, thus pushing up the yen.
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During a U.S. District Court hearing, lawyers for the government, the unsecured creditor committee (UCC) and Puerto Rico's federally appointed financial oversight board announced the agreement.
|
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Against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar was 0.36 percent lower.
|
|
In currency markets, the main early news was the yen which is often favoured in times of stress as Japan remains the world's largest creditor nation.
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Including data revisions, Bulgaria's net external creditor position strengthened to 8.6% of GDP in 2016 from a net debtor position of 2.1% of GDP in 2015.
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China, the United States' largest creditor, in January launched yuan crude oil futures which could eventually become a global price benchmark alongside Brent and WTI crude.
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At the end of September, Citgo had net income of about $500 million, according to a creditor with access to financial statements that are not public.
|
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Against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the greenback was 0.11 percent lower.
|
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The International Bondholders Committee has been attempting to establish jurisdiction for some restructuring proceedings in the Netherlands, which has more creditor-friendly bankruptcy law than Brazil.
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Japan is the world's biggest creditor nation and there is an assumption that Japanese investors would repatriate their foreign holdings in times of heightened global uncertainty.
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Furthermore, we believe there will be strong creditor recovery in a distress scenario; a high proportion of the group's operating cash flows are contractually locked in.
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The fourth major creditor group consists of investors who hold so-called Cofina bonds, which were sold from 2006 onward, backed by a dedicated sales tax.
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The I.M.F., a major creditor, has been threatening not to contribute to the bailout program if eurozone member states fail to offer Greece some debt relief.
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Frankfurt-listed Ultrasonic said in March last year that negotiations with creditor banks had collapsed and that, as a consequence, it had to file for insolvency.
|
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Japan is the worlds largest creditor nation and traders tend to assume Japanese investors would repatriate funds at times of crisis, thus pushing up the yen.
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Greece needs a reduction of its enormous public debt in order to function, but governments in creditor countries do not dare propose this to their voters.
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This relates to the Islamic principle of insolvency, or iflas, which states that debt cannot be written off unless there is specific forgiveness by a creditor.
|
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The dollar was 0.41 percent lower against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation.
|
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The ESM holds more than half of the country's public debt and, as the country's biggest creditor, is keen to see it regain market access sustainably.
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"I am a Federal employee who has recently been furloughed due to a lack of funding of my agency," a sample letter to a creditor read.
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That move made it likely other bondholders would follow suit, creditor bank officials said, allowing the shipbuilder to meet conditions of a $2.6 billion bank bailout.
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A nightmare scenario of an Office of Special Enforcement inspector going rogue, stalking a colleague or creditor or lover with Palantir's mobile technology, is certainly conceivable.
|
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"CORREA-ERA WASTE" Lasso would also examine contracts and loans with China, Ecuador's top creditor since the country defaulted on $3.2 billion in bonds in 2008.
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However, the proposed warrants re-ignite inter-creditor tensions because guarantees provided by a company in bankruptcy "are worth zero," said an investor referring to Telemar.
|
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The manual's authors defined the term much the way the law does: Advisers can't be a creditor, a shareholder or an insider of the bankrupt company.
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During the Alpha Natural Resources bankruptcy, Mr. Alix formed an investment partnership and became an unsecured creditor, giving him standing to challenge McKinsey over its disclosures.
|
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After you've disputed the mistakes, keep a record of what you sent to the agency or creditor, who you spoke to and any other relevant information.
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"There is an agreement, but some details still need to be ironed out, both with creditor banks and potential new investors," one of the sources said.
|
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Argentine bond prices have dropped 3.5% this year as uncertainty rose about the country's ability to pay $44 billion to the IMF, its biggest single creditor.
|
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O, filed for creditor protection last month and laid out a restructuring plan that included cutting 2,900 jobs and closing roughly a quarter of its stores.
|
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"The last thing I want to be is another creditor in line in a bankruptcy," the vendor said, explaining why he filed a lawsuit seeking repayment.
|
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The sales growth comes despite tricky trading conditions for many high-street retailers, which saw department store chain House of Fraser seek creditor protection last week.
|
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Inaccurate information can arise from errors in information supplied by a creditor or from a mistake made by a credit-reporting firm, or from fraud — i.e.
|
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A group of around 80 of Argentina's bond holders have formally set up a creditor group ahead of debt restructuring talks expected to get underway shortly.
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Hedge fund Elliott Management, which is Energy Future's biggest creditor, had opposed the sale to Berkshire, arguing it undervalued Oncor and threatening to veto the deal.
|
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Japan is the world's biggest creditor nation and there is an assumption that investors there will repatriate offshore funds in a crisis, boosting demand for yen.
|
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Now Elliott is pressing to halt Berkshire's takeover effort, using its weight as a major creditor in an attempt to block the deal in bankruptcy court.
|
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Nonetheless, according to a person close to the creditor hedge funds, the parties are not that far apart — possibly only as much $200 million — in their negotiations.
|
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In January, the latest reading, it held nearly $22017 trillion worth of U.S. debt – the largest of any foreign creditor – down from around $21.7 trillion in August.
|
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A major element of the administration's proposal is the enactment of a legal framework, like bankruptcy, that would halt creditor lawsuits while Puerto Rico reduces its debts.
|
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Toshiba will need creditor approval for a plan by the end of March so it can book tax benefits from the bankruptcy in its current financial year.
|
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The platform would increase transparency, reduce transaction costs, improve coordination in the case of multiple creditor claims and open the market to new investors, the ECB argued.
|
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IFR, a Reuters service, reported that the deal was expensive for Peru but satisfied its goal of drawing more buy-and-hold investors into its creditor base.
|
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The appeals court also said the holdout creditor opposing the debt-cutting plan, Marblegate Asset Management LLC, could pursue its right to repayment by suing Education Management.
|
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Analysts said the yen, a safe-haven currency backed by Japan's status as the world's biggest creditor nation, remained relatively weak because of domestic demand for dollars.
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He called on Congress to enact legislation that would give Puerto Rico the ability to take shelter in bankruptcy, where such creditor litigation would be automatically stayed.
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In March 2015 the ECB intended to buy no more than 25% of an issuer's outstanding bonds, to avoid becoming the primary creditor to euro-area governments.
|
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"We are waiting to see what kind of growth scenario Toshiba will present after the chip sale," said a senior executive at one of Toshiba's creditor banks.
|
|
Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar fell 0.15% to 110.92 .
|
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If the plan wins court approval, control of the 163-year-old family publisher would be turned over to hedge fund Chatham Asset Management, its largest creditor.
|
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For the last week, Puerto Rico has been meeting with creditor groups over the government's proposal to restructure about $222 billion of its $226.7 billion total debt.
|
|
However, the yen, seen as a haven by virtue of Japan's position as the world's largest creditor, halted its decline by morning, suggesting investors are still cautious.
|
|
The dollar was 0.77 percent lower against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation.
|
|
Before filing for creditor protection, Oi failed to merge with a rival partly because the rules threatened to hamper the combined entity, sources said at the time.
|
|
But there have been signs that China, a major creditor, is slowing financing to Addis Ababa as doubts grow over the profitability of some infrastructure projects there.
|
|
After rescues in Portugal, Greece and Italy triggered protests over unequal creditor treatment, the EU introduced new rules to ensure creditors — not taxpayers alone — fund bank rescues.
|
|
That means Japanese investors hold around $653 trillion more foreign assets than overseas investors hold in Japan, making Japan the world's biggest international creditor in nominal terms.
|
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Many mills have restructured their operations and others filed for creditor protection in the wake of a multi-year cycle of low prices that ended in 2015.
|
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The official also said China is a large creditor and the U.S. is interested in making sure Chinese lending and borrowing is done in a transparent manner.
|
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Against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar was 0.46 percent higher JPY=.
|
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Casino's CFO says Ralleye has not lost control over the Retailer after a French court placed the parent company and its subsidiaries under creditor protection on Thursday.
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"The real impact that a creditor can have in a sovereign default is to make it complicated for a government to engage in foreign commerce," he said.
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Creditor groups involved in the bankruptcy have also sought to invalidate debt issued by the Public Buildings Authority and bonds sold for the island's Employees Retirement System.
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MOSCOW, June 23 (Reuters) - Russian Prime Minister Dmitry Medvedev said on Thursday the country's VEB development bank should be a moderator of loans rather than a creditor.
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Former employee Daniel Beasley, who won the racial discrimination and wrongful termination case against the company, is listed as a creditor in last week's bankruptcy court filing.
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Under the latest agreement, the creditor committee will withdraw all legal actions against the deal, as well as any claim in connection with issuance of GDB debt.
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Golfsmith said its Canadian retail chain, Golf Town, had also commenced creditor protection proceedings under the Companies' Creditors Arrangement Act in the Ontario Superior Court of Justice.
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The creditor protection process, granted by the Ontario Superior Court of Justice, will allow RBH to carry on its business in the ordinary course, Philip Morris added.
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KEY RATING DRIVERS Malta's ratings reflect its high national income per head compared with the 'A' median, robust economic growth and a large net external creditor position.
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Gazprombank did not respond to Reuters questions, while state lender VTB, another big Mechel creditor, said its decision to restructure Mechel's debt was motivated by business interests.
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This group of bondholders, mainly mutual funds and other financial institutions, has emerged as one of four main creditor groups with a stake in the rescue legislation.
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The ongoing battle between those two creditor factions, which each believe they are entitled to top priority payment, will be key to any Puerto Rican debt restructuring.
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Atvos, a unit of industrial conglomerate Odebrecht SA, filed for bankruptcy protection on Wednesday after creditor Lone Star Funds got a court decision blocking its cash position.
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In a related ruling Friday, U.S. District Judge Laura Taylor Swain dismissed a lawsuit by a different creditor, saying FCB officials are territorial, rather than federal, officials.
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"While the particular creditor economies might change over time, the U.S. will tend to continue to run deficits larger than is explicable by other factors," he said.
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Nova needs to navigate regulatory requirements, ensure access to data, and then transmit that data securely before ultimately translating it and packaging it for a US creditor.
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Jeff Merkley (D-Ore.) would set a new federal limit on how much a person's paycheck could be garnished to pay back money owed to a creditor.
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Sharp's creditor banks have said they were also not aware of the size of the contingent liabilities until the last minute, separate sources familiar with matter said.
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Over the three bailouts for Greece, euro zone bailout funds have so far disbursed 173.5 billion euros to Greece, making the rescue funds the country's largest creditor.
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Check your credit reportChecking your credit report can also help you find out who the creditor is and how much debt you "owe" and need to dispute.
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Eddie Lampert, the Sears chairman and its largest creditor, met a deadline imposed by the company for potential buyers of hundreds of stores and other Sears assets.
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JOHANNESBURG, Jan 10 (Reuters) - South African retailer Steinhoff said on Thursday a creditor is challenging the company's plans to restructure its convertible debt into new secured loans.
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"It's hard to shoot a moving target," U.S. Bankruptcy Judge Benjamin Goldgar said at an emergency hearing before postponing the deadline for creditor objections to May 17.
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Japan is the world's largest net creditor nation, and in uncertain times traders assume Japanese repatriation of overseas funds will eclipse foreign investors' selling of Japanese assets.
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Simon Fuller, the company's former chief executive, who had been retained as a consultant, was listed as being owed $3.3 million, making him the largest unsecured creditor.
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Luxembourg also has a large net external creditor position of 244% of GDP, which is mainly due to the international banks, investment funds and multi-national corporations.
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State-owned Sberbank is traditionally seen as a barometer for the wider health of the Russian economy, and is also a creditor for businesses hit by sanctions.
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If debt relief is needed, it tends to be agreed under the framework of the Paris Club of creditor nations, of which Russia is a permanent member.
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The Puerto Rican government can pull out its pockets and plead poverty and any creditor that lost money during the stay will likely be out of luck.
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In the sovereign debt market, the ECB places strict limits on the percentage of each bond it can buy, in order to avoid becoming a "dominant creditor".
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Investors are concerned that China, which is the largest foreign U.S. creditor, may dump Treasury bonds and send U.S. borrowing costs higher to punish the Trump administration.
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Since Puerto Rico filed the largest-ever U.S. government bankruptcy in May, creditor groups have litigated fiercely over who has first claim on the island's limited cash.
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Those credit files, which helped determine who could get a business loan, rent an apartment or even land a job, were available for purchase by any creditor.
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The dollar was 0.65 percent lower against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation.
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In its court filing, CEOC said the overall new financing is a condition to fund creditor recoveries under its reorganization plan, as well as other unspecified needs.
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Nevertheless, net external debt is forecast to fall only modestly, to 51% of GDP in 2019, and compares with a peer group median of -1% (net creditor).
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar rose 0.26% to 109.6.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar rose 133% to 109.6.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar rose 133% to 109.63.
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Against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar fell 0.32% to 106.94 yen.
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Against the yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar fell 0.32% to 106.94 yen.
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The 88-year-old, 164-store, BHS was placed into administration, a form of creditor protection, by owner Retail Acquisitions last month, putting 13,000 jobs at risk.
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The bondholders have a second-priority, junior interest in the same assets that secure the first-lien senior secured term loan, pursuant to an inter-creditor agreement.
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Reuters reported last week that China Development Bank (CDB), HNA's biggest creditor, was expected to be involved in financing deliveries of up to 8 of the planes.
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Both sorts of creditor are likely to insist on a primary fiscal surplus, ie, before interest payments, which means more austerity than Mr Fernández has in mind.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar rose 133% to 109.63.
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Whether a likely majority of creditor support — a handful of hedge funds notwithstanding — will be enough to sway Republicans to support the bill remains to be seen.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar fell 0.21% to 110.86 yen.
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The government has met current expenditures (bar interest payments on debt) from revenues since 2014; today's arguments are largely about shuffling money from one public creditor to another.
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China is the United States' biggest overseas creditor, holding $22018 trillion of Treasuries through its central bank and various state-owned institutions that make up the government sector.
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Japan is the world's largest net creditor nation, and at times of uncertainty traders assume Japanese repatriation from foreign countries will eclipse foreign investors' selling of Japanese assets.
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This week it also said that a creditor of a business owned by the venture had filed a court application requesting that the JV's subsidiary be wound up.
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Analysts said the yen, another safe-haven asset backed by Japan's status as the world's biggest creditor nation, remained relatively weak thanks to domestic investors' demand for dollars.
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On Thursday Air Berlin's creditor committee said it would talk to Lufthansa and Britain's easyJet as possible buyers for the carrier's aviation business, giving three weeks for negotiations.
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An executive at one of the main creditor banks said it was still uncertain if Western Digital would agree to Toshiba offering its chip unit stake as collateral.
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While the holdout creditors may have won this battle over bigger payouts in sovereign debt restructurings, they may have lost the war over creditor rights in the future.
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Caesars Entertainment's main operating unit, Caesars Entertainment Operating Co Inc (CEOC), is currently involved in an $18 billion bankruptcy and is seeking creditor approval for a restructuring plan.
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But if a creditor of that magnitude is angered, the Treasury market could be the first place it looks to send a message back to the United States.
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The measures are part of the island's turnaround plan approved by the board but have been challenged by Interamericas Turnkey Inc, which describes itself an eminent domain creditor.
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Analysts said the yen, another safe-haven asset backed by Japan's status as the world's biggest creditor nation, remained relatively weak due to domestic investors' demand for dollars.
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Since Klepierre is deemed a creditor under Plaza's ongoing Restructuring Plan, payment of the principal amount due by Plaza under the indemnification claim is deferred to July 6083.
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The previous government's failure to do so had cost the economy, he said, with creditor claims in New York having risen to $9.9 billion from $2.943 billion originally.
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On Wednesday, Mines and Energy Minister Bento Albuquerque said he expected the dispute to be resolved within 100 days, and that Petrobras was the creditor in the dispute.
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The creditor banks said in July that they had decided to set up the SPV as part of the debt restructuring talks after an extended period of negotiations.
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The court that handles such bankruptcy cases, the National Company Law Tribunal (NCLT), should first test the intent of any operational creditor making a bankruptcy plea, he added.
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Quadriga, which owes a total of C$2000 million to 115,000 users, filed for creditor protection last month after the sudden death of founder Gerald Cotten in December.
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In its 13th edition "Bankruptcy Enterprise Values and Creditor Recoveries" case study, Fitch notes seven past reorganizations in the technology sector where the median recovery multiple was 4.9x.
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The European Stability Mechanism (ESM) holds more than half of the country's public debt and, as its biggest creditor, is keen to see Greece regain market access sustainably.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar fell 0.21% to 110.86 yen.
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The country's moderate external debt and strong external liquidity buffer support its net external creditor position, equivalent to 7% of current external receipts, stronger than the 'BBB' median.
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Yes, the countries falling in this category are currently amassing a cool $1.3 trillion of net assets, or, if you prefer, beefing up their net global creditor positions.
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Last year, it became one of nearly 20 companies that have already exited bankruptcy, but is now one of the first to have filed for creditor protection again.
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A source close to the creditor talks told Reuters on Wednesday that the majority of the loan would come from bondholders with the remaining put up by banks.
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A creditor committee meets on Thursday afternoon to discuss offers for Air Berlin, which filed for insolvency in August after major shareholder Etihad pulled the plug on funding.
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Jose Gonzalez, president and chief executive officer of the Federal Home Loan Bank of New York, may be the "key swing vote" for creditor-friendly policies, Hanson said.
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But he has also stressed that creditor rights should be protected in such a scenario, possibly a good sign for the fate of Puerto Rico's general obligation debt.
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A third of consumers has been contacted by a creditor or debt collector in the past 12 months, according to a report from the Consumer Financial Protection Bureau.
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After Greece exits its bailout it will regain full sovereignty in fiscal policy-making, submitting only to less detailed creditor scrutiny in what is called post-program surveillance.
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A prolonged and steady deleveraging and positive current account trends helped Bulgaria turn into a small net external creditor to the tune of 0003% of GDP in 2016.
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When geopolitics roils financial markets, the yen tends to rise on the view that investors from Japan, the world's biggest creditor nation, will repatriate funds during a crisis.
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Peabody initiated a lawsuit against secured creditor Citibank and Wilmington Savings Fund Society, a trustee for other secured creditors, on Friday in U.S. Bankruptcy Court in St. Louis.
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In the last eight months, Astaldi, Italy's second-largest builder and CMC, its fourth-largest, have filed for creditor protection, while number three firm Condotte filed for insolvency.
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Against the Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar fell 0.2% to 110.88 yen.
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Greece remains in recession with the highest jobless rate in Europe and a stalled creditor review has interrupted payouts under its international bailout programme, its third since 2010.
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Only a handful of the firms that have sought creditor protection under the law have managed to obtain DIP loans, said Renato Franco, founder of restructuring boutique Integra.
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Creditor groups have been lobbying furiously to prevent Puerto Rico from gaining the power to reduce its debt load without their consent, particularly regarding the supposedly sacrosanct GOs.
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Intrepid was hit by the January 2015 bankruptcy of Japanese carrier Skymark Airlines, of which it had become the largest creditor after leasing it seven Airbus A330 jets.
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The country has strong external finances with a persistent current account surplus and large net external creditor and international investment positions relative to 'AA' and 'A' rated peers.
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If you're having trouble making your monthly payments, call the creditor and explain your situation (like you just lost your job or are going through expensive medical treatments).
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Gol and LATAM are now offering at least $70 million each, and both said their bids had been requested by Avianca Brasil's largest creditor, hedge fund Elliott Management.
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In its 13th edition "Bankruptcy Enterprise Values and Creditor Recoveries" case study, Fitch notes seven past reorganizations in the technology sector where the median recovery multiple was 13x.
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The bill would also bar employers from taking action against employees facing wage garnishment, and also protect a portion of assets in workers' deposit accounts from creditor access.
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Moloto said if expropriation without compensation were to materialise without protection of the bank's rights as a creditor, it would be required to repay 9 billion rand immediately.
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A stay of execution, which protects Oi from creditor suits, will expire in May, said a source close to bondholders who is not allowed to talk in public.
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One creditor of Venezuela, Crystallex International Corp, a Canadian gold miner, has already asked a federal judge in Delaware to void the stock pledge to the 2020 bondholders.
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The creditor groups had said in August they would agree to swap 26.1 billion reais worth of their Oi bond holdings for 88 percent of the company's equity.
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RCom's creditor banks are already dragging their feet over the debt-for-equity swap because the company's shares are trading at half the price of the proposed swap.
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Greece remains in recession with the highest jobless rate in Europe and a stalled creditor review has interrupted payouts under its international bailout program, its third since 2010.
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Citgo had about $500 million in cash at the end of September, according to a creditor who spoke to Reuters last week, and $900 million in available credit.
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The debt is mostly held by local and international banks, although some hedge funds and other non-bank financial institutions are said to be among the creditor group.
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Having run current account surpluses for decades, Japan is the world's top creditor nation, despite its government running debt of more than 200 percent of gross domestic product.
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"We have quickly reached a deal and signed an agreement with Vakifbank, which is our largest creditor, for the restructuring of our debt," Nogaylaroglu said in the statement.
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They've seen everything — a far-right storm, shuttered banks, a referendum vote to reject creditor-imposed austerity that was promptly ignored, governments of every political hue — and survived.
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He has a form letter he sends out when a client is sued by a creditor that does not comply with the state's Corporation Business Activities Reporting Act.
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A set of Lebanons bond holders are to step up efforts to form a creditor group in the coming days, one of the members of the group said.
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"The sell-off of GO debt means new holders are getting in at a very low cost and with presumably lower recovery targets," said one COFINA creditor source.
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Quadriga Fintech Solutions, which owned and operated the QuadrigaCX trading platform, was granted creditor protection earlier this year after the death of its chief executive, Gerald Cotten. tgam.
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That is likely to force further reliance on China, already Cuba's top creditor in recent years, having offered loans as a way to hike trade with the island.
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Moloto said if expropriation without compensation were to materialize without protection of the bank's rights as a creditor, it would be required to repay 9 billion rand immediately.
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Among Oger Telecom's creditor banks, Akbank lent it $1.7 billion, Garanti lent about $1 billion and Isbank about $500 million, according to the banks' first-quarter financial statements.
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LONDON, Jan 20 (Reuters) - British department store retailer Beales has collapsed into administration, a form of creditor protection, putting 1,052 jobs at risk, administrator KPMG said on Monday.
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Against the Japanese yen, which tends to attract investors during times of geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar rose 0.06%.
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The sources said the creditor banks would likely agree to the extension as they were confident they would eventually be repaid, given the project's importance to Saudi Arabia.
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Lebanon appeals for import aid; France to hold meeting EXCLUSIVE-Argentina bond holders forming creditor committee ahead of elections -sources Interactive graphic on emerging market interest rates tmsnrt.
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Against the Japanese yen, which tends to attract investors during times of geopolitical or financial stress as Japan is the world's biggest creditor nation, the dollar rose 0.06%.
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Against the Japanese yen, which tends to attract investors during times of geopolitical or financial stress as Japan is the worlds biggest creditor nation, the dollar slipped 0.09%.
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One creditor supporting a committee is Kolin Burges, a British software developer and cryptocurrency investor who had 311 bitcoins at Mt. Gox, about two-thirds of his savings.
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Arcadia needs creditor approval to avoid going into administration or liquidation, for each of its seven brands - Topshop, Topman, Burton Menswear, Dorothy Perkins, Evans, Miss Selfridge and Wallis.
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You're not alone: Last year, the Consumer Financial Protection Bureau (CFPB) found that one-in-three people with a credit record had been contacted by a creditor or collector.
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It tried to sell two of its plants in judicial auctions, but in both cases Brazil's development bank BNDES, who is a large creditor, obtained injunctions blocking the auctions.
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Noble's Restructuring Support Agreement (RSA) has been signed by creditors known as the Ad Hoc Group and the firm is seeking support from another senior creditor, Deutsche Bank (DBKGn.
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The risk is that a creditor faced with declining revenues and higher payment costs because of a stronger dollar on its dollar-denominated debt sparks a default, Williams said.
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Media reports here on Tuesday said lenders to the company have agreed to sign an inter-creditor agreement and consider a resolution plan to rescue it from outstanding debts.
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"The plan was the outcome of many months of discussions with groups representing multiple creditor classes, and filed on a timetable that was well publicized," a company statement said.
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Sovereign loans are protected by the bank's preferred creditor status, which ensures that EIB will be repaid in priority in the event of a sovereign defaulting on its obligation.
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Carpetright said it would seek creditor approval for a restructuring plan to close 92 stores and reduce rents at 113 of its sites, resulting in about 300 job losses.
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Japan is also the world's largest net creditor nation, and at times of uncertainty traders assume Japanese repatriation from foreign countries will eclipse foreign investors' selling of Japanese assets.
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Germany's regime is particularly creditor-friendly and blocks companies from making discretionary distributions, such as paying AT1 coupons, dividends, bonus and pension contributions when ADI fall below certain limits.
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A creditor with knowledge of the matter said this should be possible, since there were not enough unpledged senior bonds to block that class's vote or the overall one.
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Gorzela is requesting to be named a creditor due to the settlement she won after accusing Salling of forcing her to have unprotected sex with him in March 2011.
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In another legal challenge to Abraaj, a little known creditor of Abraaj also started legal proceedings in the Cayman Islands seeking the restructuring of the private equity firm's liabilities.
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As of September, the company had about $500 million in cash and a credit line of approximately $900 million, according to a creditor familiar with the company's financial statements.
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Its main creditor, Korea Development Bank, said in April that Asiana creditors were targeting the sale of the airline and its two budget affiliates over the next six months.
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It was a lucrative scheme borne out of adversity: while others in the Russian industry avoided hedges, Gutseriyev had no option because he was beholden to his biggest creditor.
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Mothercare said it secured creditor approval for so-called company voluntary arrangement (CVA) proposals that would enable it to shut 50 stores and secure rent reductions on 21 others.
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The court said on Monday it was processing the filing, during which time Abengoa will be protected from creditor claims after a pre-insolvency period expired on March 28.
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The majority of the 22 or so creditor banks have signed up to the agreement, but Union National Bank, Mashreq and Qatar's Doha Bank have declined, the sources said.
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The abrupt resignation of Oi Chief Executive Marco Schroeder on Friday, just two weeks ahead of a crucial creditor vote, heightened tensions and raised questions about Anatel's next steps.
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The unsecured creditor committee, mostly government suppliers and labor unions, had tried to halt the proposed GDB restructuring deal, arguing it violated the court-ordered bankruptcy stay and PROMESA.
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Malta is a large net external creditor with a net international investment position at 48% of GDP in 2017, higher than the 'A' median's 13% of GDP debtor position.
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The retailer's Executive Chairman Brandon Stranzl last month stepped away from day-to-day operations to focus on plans for the company, which filed for creditor protection in June.
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Luxembourg's external finances are robust, with a large net creditor position of 2,181% of GDP, supported by large external assets of international banks, investment funds and multi-national corporations.
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Elliott, known in Latin America for forcing Argentina into bigger repayments on defaulted bonds, is Avianca Brasil's largest creditor by a wide margin, with claims totaling almost $490 million.
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Writing for the court, Justice Sonia Sotomayor said what a debtor tells a creditor about a single asset may paint a picture about the ability to repay a debt.
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"The court decided that the group's property will be protected from creditor foreclosures, freezing any disposals of real estate and equipment," the court official said, declining to be named.
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HNA representatives made the statement to major creditor banks at a meeting called by the provincial government last week in Haikou, one person with knowledge of the meeting said.
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The country remains in recession with the highest unemployment rate in Europe, and a stalled creditor review has interrupted payouts under its international bailout program, its third since 2010.
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KEY RATING DRIVERS San Marino's governance indicators, income per capita, and level of public debt compare favourably with the 'BBB' median, and the country is a net external creditor.
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The writers claim that a litigation victory for Argentina's creditors in 2012 will make future sovereign restructurings "virtually impossible" and that the only solution is global anti-creditor legislation.
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The carrier's creditor banks are in talks with the Italian government for the state to provide loan guarantees for 1003 million euros, La Stampa said in an unsourced report.
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Officials from Kumho Asiana Group and creditors have been negotiating a fresh restructuring plan since the initial proposal was turned down, two officials from a main creditor told Reuters.
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As well as each creditor class providing over 75% backing by value, shareholders have to give at least two-thirds support to the company proposal for it go through.
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Richard Langberg, an analyst with S&P Global Ratings who follows Citgo, said the significant costs and uncertainty should give any creditor pause about trying to collect against Citgo.
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