European Parliament Library

Government Involvement in Corporate Debt Restructuring :, Case Studies from the Great Recession, David Grigorian, Faezeh Raei

The paper examines recent episodes of government involvement in corporate debt restructurings. It argues that corporate debt restructuring is an important step toward recovery from a financial crisis. We then discuss the rationale for, and modalities of, the state intervention in corporate debt workouts through reviewing six countries with large scale corporate debt workouts. Case studies reveal that the costs of corporate sector rescue are significant and in several cases on par with the costs of financial sector bailouts. The paper sheds light on the importance of contingent liabilities and associated risks to government balance sheet from the corporate debt side and emphasizes the need for improved contingency planning for corporations with potential systemic impact
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction and Motivation; 1. Evolution of Nonperforming Loans; 2. Corporate Sector Leverage in Recent Crises; 3. Credit and NPLs, Russian Federation; II. Rationale for and Modalities of Corporate Debt Restructuring; A. General Considerations; B. The Role of the Banking Sector; 1. Types of AMCs; III. Selected Recent Debt Restructuring Cases; A. Russian Federation; 2. Debt Restructuring in Russia; B. Spain: Property Development Sector; 3: Restructuring of Spain's Largest Real Estate Companies; C. Ukraine; 4. Ukraine's Naftogaz; D. Latvia
Literary Form
non fiction
"November 2010."
Physical Description
1 online resource (68 p.)
Specific Material Designation
Form Of Item

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