COMPLEXITIES OF ADDRESSING INTEREST ARREARS IN A BRADY TRANSACTION: THE CASE OF THE REPUBLIC OF ARGENTINA 1992 FINANCING PLAN

COMPLEXITIES OF ADDRESSING INTEREST ARREARS IN A BRADY TRANSACTION: THE CASE OF THE REPUBLIC OF ARGENTINA 1992 FINANCING PLAN

The Argentine Brady transaction presented many novel legal and practical issues in both the negotiation and implementation of the 1992 Financing Plan. The transaction's success is a testament to the hard work, tough decisions, and flexibility of Argentina and the Working Committee; to the skill...

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Veröffentlicht in:Law and contemporary problems 2010-09, Vol.73 (4), p.241-249
1. Verfasser: Olivier, Jeanne C.
Format: Artikel
Sprache:eng
Schlagworte:
Arrearage
Bond issues
Bond principal
Bonds
Cash payments
Creditors
Debt restructuring
Escrow
External debt relief
External debts
Financial bonds
Financial transactions
Financing
Interest rates
Laws, regulations and rules
Reconciliation
Sovereign debt market
Syndicated loans
Zero coupon bonds
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Zusammenfassung:The Argentine Brady transaction presented many novel legal and practical issues in both the negotiation and implementation of the 1992 Financing Plan. The transaction's success is a testament to the hard work, tough decisions, and flexibility of Argentina and the Working Committee; to the skills of the closing agent and the facility agents that the process of reconciling over $30 billion ended with only $3.5 million in dispute; and to the cooperation and support of the Bank of England. And for the attorneys representing the various parties, it was a rewarding team effort to solve the complex and challenging legal issues that this unique transaction presented.
ISSN:0023-9186
1945-2322