05337nam a22005295i 4500 978-3-031-66838-8 DE-He213 20251030113108.0 cr nn 008mamaa 240927s2024 sz | s |||| 0|eng d 9783031668388 978-3-031-66838-8 10.1007/978-3-031-66838-8 doi HG4001-4285 KFFH bicssc BUS017000 bisacsh KFFH thema Marney, Richard. author. aut http://id.loc.gov/vocabulary/relators/aut 85079 Emerging Markets Debt Restructuring [electronic resource] : Effectively Navigating Local Institutional Frameworks / by Richard Marney, Timothy Stubbs. 1st ed. 2024. Cham : Springer Nature Switzerland : Imprint: Palgrave Macmillan, 2024. XXV, 550 p. 56 illus., 54 illus. in color. online resource. text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Part I. Fundamentals -- Chapter 1. Reprise – The Five Phases of Restructuring -- Chapter 2. Debt Distress in the EMs -- Chapter 3. Ten Observations - Corporate Debt Restructuring in the EMs -- Part II. Application -- Chapter 4. Case 1 – Horizon Bank -- Chapter 5. Case 2 – Global Agri-Solutions -- Chapter 6. Case 3 – Enterprise Bank -- Chapter 7. Case 4 – New Media Corporation.-Chapter 8. The Case Studies and the Ten Observations -- Part III. Implications -- Chapter 9. When the World Goes Awry -- Chapter 10. Restructuring Strategy: Nash meets Lorenz and Freud.-Chapter 11. The Practitioner’s Assessment of an Emerging Markets Insolvency Framework -- Chapter 12. Closing Remarks. Corporate debt in emerging markets (EMs) has reached historical levels in the post-Covid-19 world. This challenges international lenders (e.g., commercial banks, development finance institutions, and impact investors) and EM economies in their pursuit of economic development. This book builds on the authors’ first volume by focusing on the role of institutions in the economy, credit markets, and ultimately debt restructuring. The authors identify, contextualize, and evaluate the major challenges confronting restructuring professionals in EMs, offering “ten observations” on the major differences for the practitioner in the restructuring environment of EMs versus that of advanced economies. The authors present four detailed EM case studies (following these with counterfactuals) reflecting these ten observations. The authors also explore the main elements of an effective EM insolvency framework as relevant to the restructurer’s choice whether to pursue a formal versus an informal solution. Written for restructuring professionals by restructuring professionals, this book explores the factors which drive success—or failure—in EM debt restructuring. Richard Marney is a senior advisor for risk management at responsAbility Investments (Zurich). He previously served from 2014 to 2019 as the firm’s chief risk officer. Prior to responsAbility, he 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. He currently sits on multiple boards of directors in the emerging markets, including the African Guarantee Fund, Finca Armenia, MikroKapital Romania, MikroKapital Moldova, and Oasis Credit, Uzbekistan, and serves as an advisor and investment committee member to the Beacon Fund, Vietnam. He is a graduate of the Johns Hopkins University, Nitze School of Advanced International Studies, and University College London, with a specialty in development economics. Timothy Stubbs is a partner with the global law firm Dentons based in London. 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 Office of General Counsel of the European Bank for Reconstruction and Development (EBRD) in London on working sabbatical. Tim has led numerous debt restructurings as well as financings of all types, including bilateral and syndicated lending, real estate finance, and project finance. Business enterprises Finance. 58021 Financial services industry. 60413 Development economics. 61731 Corporate Finance. 57278 Financial Services. 69064 Development Economics. 61731 Stubbs, Timothy. author. aut http://id.loc.gov/vocabulary/relators/aut 85080 SpringerLink (Online service) Springer Nature eBook Printed edition: 9783031668371 Printed edition: 9783031668395 Printed edition: 9783031668401 https://doi.org/10.1007/978-3-031-66838-8 ZDB-2-ECF ZDB-2-SXEF 63748 63748