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Temporary and Proposed Regulations under Section 871(m) Issued January 19, 2012
On January 19, 2012, the U.S Treasury Department ("Treasury") and t...
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New Guidance Continues Status Quo Through 2012, But Proposes More Expansive Application Beginning 2013
The Foreign Account Tax Compliance Act ("FATC...
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This Comment reviews recent proposals to address the "empty creditor" problem. The author argues that previous proposals would do little to reduce the risk that empty creditors will block debt-for-equity exchanges in order to collect credit default swap payments. The author presents an alternative approach that would limit the dangers of empty crediting by modifying the standardized language of swap agreements. Specifically, the author argues for widening the definition of "credit events" to encompass voluntary debt-for-equity exchanges that surpass a certain participation threshold. This reform would benefit the vast majority of credit protection buyers and sellers, while simultaneously reducing deadweight losses resulting from unnecessary bankruptcy filings.
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New Guidance Continues Status Quo Through 2012, But Proposes More Expansive Application Beginning 2013
The Foreign Account Tax Compliance Act ("FAT...
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EDITOR'S NOTE: This story has been updated throughout.
FRANKFURT (Reuters) - Creditors of Conergy have agreed to a debt restructuring of the German solar company, which would likely hand over control to hedge fundsandthrough a debt-for-equity swap.
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Written by Shahen Mirakian, Josh Ellimoottil and Joshua Chud, Student-at-Law
In the Ontario Securities Commission's ("OSC") Corporate Finance Branch...
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brian Tsuchiya says it's easier to get people to work for free than it is to find venture capital. That's why he launched his newest company, First-Wh...
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Energy Editors/Business Editors
HOUSTON--(BUSINESS WIRE)--Dec. 18, 2003
Mission Resources Corporation (Nasdaq:MSSN) announced today that it has ac...
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The "on-going concern" warning from the struggling U.S. automaker had been expected, but underscored the stakes for GM as it seeks up to $30 billion in U.S. government aid to restructure outside a court-supervised bankruptcy process.
Representatives of GM's bondholders were scheduled to meet on Thursday with the U. S. autos task force. Under GM's bailout, its debt holders have been asked to take a payout of one-third of the $27 billion GM owes through a debt-for-equity swap.
The new waivers allow GM's lenders to call those loans if the U. S. Treasury rejects GM's restructuring plan and request for additional aid and forces it to repay the $13.4 billion it has already borrowed from the U.S. government.
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GERMAN M&A AND PRIVATE EQUITY NEWS - 4TH QUARTER 2010
As part of an intended comprehensive amendment of German insolvency law, the German Federal Mi...