shows how several ways in which the actual world of international lending departs from these conditions give both lenders … and borrowers ample reason to care whether nonperforming debts are restructured. One implication of the way in which debt … argument is moral hazard, but (unlike in much of the recent literature of emerging market debt problems) what is central here …

shows how several ways in which the actual world of international lending departs from these conditions give both lenders … and borrowers ample reason to care whether nonperforming debts are restructured. One implication of the way in which debt … argument is moral hazard, but (unlike in much of the recent literature of emerging market debt problems) what is central here …

different mechanisms exist which can be used to restructure the debt of distressed companies. The purpose of this paper is to … assess the debt restructuring mechanisms currently available to companies in English law and to consider whether reform is … needed. There have been a number of calls for the reform of English debt restructuring mechanisms in recent years, most …

system for debt restructuring and insolvency more generally; (iii) a blurring of the boundary between restructuring and … insolvency; and (iv) a more complex cross-border regime. In combination these amount to a seismic shift in the UK debt …UK debt restructuring is undergoing a period of immense change. Two developments in particular have contributed to this …

). The HDC can order an immediate repayment or grant a debt suspension. Exploiting the random assignment of bankruptcy … filings to managers, we show that a debt suspension has a very significant and negative effect on the likelihood to re … the nature of their indebtedness. Our results imply that rather than focusing on a specific debt profile, above all a …

In late 2008, Ecuador launched a successful effort to restructure its external debt, the circumstances of which are … unique in the recent history of sovereign debt restructurings. The country had a rocky history of debt repayment, but after … restructurings in 1995 and 2000, it had arguably sustainable levels of external debt. In 2006, Rafael Correa, running for president …

This paper empirically investigates the relationship between the speed of buildup of private debt (household and … basis of how quickly their private debt builds up. In addition to output recessions, we look at consumption and investment … corporate debt is especially damaging for emerging markets during financial recessions. A higher ratio of debt to gross domestic …

In this paper we empirically explore the relationship between debt and output in a panel of 72 countries over the … predicted by a standard small open economy model by Aguiar and Gopinath (2007), where debt and output endogenously respond to … total factor productivity (TFP) shocks. First, developing countries' debt falls after a positive output shock, while the …