When the Tower of Lethendy, a baronial-style eight-bedroom castle near Perth, Scotland, went on the market in 2015 for more than GBP 2.5m, pop icon Taylor Swift was among those rumoured to be an interested buyer.

The Dubai International Financial Centre (DIFC) enacted its new Insolvency Law on 30 May, introducing internationally utilised insolvency and restructuring tools to offshore DIFC jurisdiction.

Vostochny Bank’s (Orient Express Bank) partial sale of its retail loan portfolio might not raise sufficient funds to comply with the central bank regulations and shareholder support is likely to be necessary to bolster its capital, agreed five sources polled by Debtwire. The Russia-based private bank needs to boost its capital levels by end-August to avoid a mandatory conversion of subordinated debt into equity or its principal write-down.

With few signs that a financial fix for Turkey’s debt-laden energy sector – proposed by the government earlier this year – is any closer to materialising, concern is mounting that not enough is being done to achieve an urgently needed operational turnaround in the industry, several market participants told Debtwire.

Uzbekneftegaz’s debut Eurobond is likely to come to market in the latter half of 2020, according to two sources familiar with the company.

An omnibus bill entered into force in Turkey last week, introducing long-awaited additional provisions to the country's Banking Law aimed at solving a number of technical and practical hurdles to debt restructurings.