Pre-Restructuring

Richard Marney () and Timothy Stubbs ()
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Timothy Stubbs: Dentons

Chapter Chapter 4 in Corporate Debt Restructuring in Emerging Markets, 2021, pp 83-110 from Springer

Abstract: Abstract The chapter begins the fable of the “Stork and the Fox” which will open and flow through the next four chapters as a means of highlighting in simple terms the major theme(s) of the respective chapters. In this chapter, the hungry stork (the lender) must cooperate with the wily fox in order to find a meal (a risky, but profitable credit opportunity). Sound credit analysis, transaction structuring, and monitoring are the financier’s protective tools, as open-eyes, a safe distance, and a healthy dollop of cautious skepticism are the stork’s. The chapter outlines the main elements of the analysis and monitoring activities and then reinforces the learnings through (i) two new case studies (a bank and manufacturing company); (ii) a digression on the topic of critical thinking and credit analysis; and (iii) a concluding section, which applies the learnings to this phase from the opening Bank of Commerce Tale.

Keywords: Bank secrecy; Bankruptcy; Borrower; Confidentiality; Consensual restructuring; Coordinating committee; Corporate debt; Debt; Debtor; Cash flow; COVID-19; Credit analysis; Credit evaluation; Credit monitoring; Critical thinking; Currency peg; Devaluation; Distressed debt; Exogenous shock; Financial statements; Emerging market; Exchange rate; Frontier market; Hybrid restructuring; INSOL II; INSOL principles; Insolvency; Lender leadership; Non-performing loans; Pre-insolvency; Restructure; Restructuring; Restructuring plan; Standstill; Steering committee; Supervisory authorities; Workout (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-81306-2_4

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DOI: 10.1007/978-3-030-81306-2_4

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