State Insolvency and Foreign Bondholders
Author: Edwin Borchard
Publisher: Beard Books
Published: 2000
Total Pages: 420
ISBN-13: 9781587980459
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Author: Edwin Borchard
Publisher: Beard Books
Published: 2000
Total Pages: 420
ISBN-13: 9781587980459
DOWNLOAD EBOOKAuthor: William H. Wynne
Publisher: Beard Books
Published: 2000
Total Pages: 686
ISBN-13: 1587980460
DOWNLOAD EBOOKAuthor: Mr.Paolo Mauro
Publisher: International Monetary Fund
Published: 2003-05-01
Total Pages: 32
ISBN-13: 1451853009
DOWNLOAD EBOOKThis paper analyzes the Corporation of Foreign Bondholders (CFB), an association of British investors holding bonds issued by foreign governments. The CFB played a key role during the heyday of international bond finance, 1870-1913, and in the aftermath of the defaults of the 1930s. It fostered coordination among creditors, especially in cases of default, arranging successfully for many important debt restructurings, though failing persistently in a few cases. While a revamped creditor association might once again help facilitate creditor coordination, the relative appeal of defection over coordination is greater today than it was in the past. The CFB may have had an easier time than any comparable body would have today.
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Published: 1983
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DOWNLOAD EBOOKAuthor: Edwin Montefiore Borchard
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Published: 1951
Total Pages:
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Published: 1951
Total Pages: 700
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Published: 1951
Total Pages: 696
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Published: 1951
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DOWNLOAD EBOOKAuthor: International Monetary Fund
Publisher: International Monetary Fund
Published: 1999-08-02
Total Pages: 108
ISBN-13: 9781557758200
DOWNLOAD EBOOKWritten by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.
Author: Mr.Udaibir S. Das
Publisher: International Monetary Fund
Published: 2012-08-01
Total Pages: 128
ISBN-13: 1475505531
DOWNLOAD EBOOKThis paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.