LEADER 05271nam 22006135 450 001 9910497084803321 005 20240312132339.0 010 $a9783030813062 010 $a3030813061 024 7 $a10.1007/978-3-030-81306-2 035 $a(CKB)4940000000610913 035 $a(MiAaPQ)EBC6719190 035 $a(Au-PeEL)EBL6719190 035 $a(OCoLC)1287136657 035 $a(DE-He213)978-3-030-81306-2 035 $a(EXLCZ)994940000000610913 100 $a20210902d2021 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aCorporate Debt Restructuring in Emerging Markets $eA Practical Post-Pandemic Guide /$fby Richard Marney, Timothy Stubbs 205 $a1st ed. 2021. 210 1$aCham :$cSpringer International Publishing :$cImprint: Palgrave Macmillan,$d2021. 215 $a1 online resource (432 pages) 300 $aIncludes index. 311 08$a9783030813055 311 08$a3030813053 327 $aPart I:- Opening Narrative -- 1:-A Restructuring Tale - The Bank of Commerce -- Part II :-The Restructuring Process -- 2:-Purpose and Structure of the Book -- 3:-Main Phases and Principles of a Restructuring -- 4:-Pre-Restructuring -- 5:-Decision to Restructure -- 6:-Case Set-up -- 7:-Structuring and Negotiation -- 8:-Implementation -- Part III :-Acts of God and Other Exogenous Events -- 9:-A Practical Approach to Exogenous Events -- Part IV:- Reference Toolkit -- 10:-Macroeconomics and Credit Analysis -- 11:-Legal Issues in Restructurings -- Part V :-Conclusion -- 12:-Closing Thoughts. 330 $aCorporate debt restructurings in the emerging markets have always presented special challenges. Today, as the global economy emerges from the COVID-19 pandemic and businesses look to pick up the pieces, this is even more true. For many, the financial hangover of the lockdowns and market disruptions linger and threaten their independence, even their survival. This peril is more acute in the emerging and frontier markets. Weaker economic fundamentals and institutional resiliency often intensify the challenge to return to pre-COVID-19 operating levels and financial sustainability. In this context, borrowers invariably must address the imbalance of substantial existing debt with the "new reality" of their business operations and revenues. This book, using case studies, presents a full, detailed narrative of a fictitious troubled bank in an emerging market, with characters, dialogues, and negotiations. It also includes a series of discussion questions with suggested answers,to draw out key issues from the case. In doing so, this initial narrative offers a substantive analysis of the five main phases and principles of a restructuring: (1) pre-restructuring, (2) the decision to restructure, (3) the case set-up, (4) structuring and negotiation, and lastly (5) implementation. In each chapter, the book outlines the main elements of the phases and shows how the elements are applied in practice. The book also presents separate chapters on exogenous shocks (with a focus on the COVID-19 pandemic as an example of such shocks), macroeconomics, and legal issues present in cross-border restructurings. It will be of interest to the international professional financial and legal community, primarily junior-to mid-level financiers, business people, and lawyers. Richard Marney is a senior advisor for risk management at responsAbility Investments AG, a leading Zurich-based development finance focused asset management firm. He previously served as the firm's chief risk officer. Prior to responsAbility, Richard had a broad and varied 40-year career in emerging and frontier markets banking and principal investing, with senior-level business and corporate development, risk management, and operating roles, including with BNY Mellon and JP Morgan. Timothy Stubbs is a partner with the global law firm Dentons. He heads the firm's Russian Banking and Finance Group. Tim has worked on emerging markets transactions with Dentons (and its legacy firm Salans) since 1992, having previously practiced law in Chicago and New York. Tim also worked for two years in the European Bank for Reconstruction and Development (EBRD) in London on working sabbatical. Tim has led numerous debt restructurings and financings of all types, including bilateral and syndicated lending, real estate finance and project finance. . 606 $aBusiness enterprises$xFinance 606 $aFinancial services industry 606 $aDevelopment economics 606 $aCorporate Finance 606 $aFinancial Services 606 $aDevelopment Economics 615 0$aBusiness enterprises$xFinance. 615 0$aFinancial services industry. 615 0$aDevelopment economics. 615 14$aCorporate Finance. 615 24$aFinancial Services. 615 24$aDevelopment Economics. 676 $a658.1526 676 $a658.1526 700 $aMarney$b Richard$0853421 702 $aStubbs$b Timothy$f1960- 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910497084803321 996 $aCorporate Debt Restructuring in Emerging Markets$92557858 997 $aUNINA