Financial Services

Asli  Orbay Asli Orbay Reporter, Arbitration and Litigation, Debtwire CEEMEA

A new type of court restructuring proceeding has been introduced in Poland as part of the COVID-19 crisis legislation: simplified restructuring proceedings available until June 2021, allowing the debtor to individually initiate the proceedings, said Karol Czepukojc and Pawel Dlugoborski, two counsels co-heading Baker McKenzie’s restructuring and insolvency practice in Poland.

Amy Finch Amy Finch Data Journalist, Debtwire

Governments and regulators need to be investors' “best friend” as they face a new wave of non-performing loans, said panellists involved in NPLs in Europe, China, and globally on a webinar, The New Rise of NPLs - Strategies and Investment Opportunities in the Market, aired live yesterday (14 October) during Debtwire Week.

Asli  Orbay Asli Orbay Reporter, Arbitration and Litigation, Debtwire CEEMEA

Still reeling from the aftermath of the currency crisis in Summer 2018, Turkish corporates are poorly positioned to weather a fresh storm caused by the coronavirus pandemic, according to market participants polled by Debtwire.

Newly issued Belarusian sovereign Eurobonds continue to trade with wide spreads on mounting investor concerns ahead of the 9 August presidential elections. A peaceful transition of power in the style of the 2018 Armenian ‘Velvet revolution’ is the most desirable but nearly impossible outcome for the country which has been under the strong grip of Aliaksandr Lukashenka for the last 26 years, agreed most of the experts polled by Debtwire.

David Graves David Graves Associate Editor, Debtwire

Oleg Bakhmatyuk told Debtwire he believes the revival of an investigation into the alleged embezzlement of a UAH 1.2bn (USD 49.6m) stabilisation loan received by VAB Bank – a bank he previously owned that was liquidated in 2015 – is “purely politically motivated”.

Asli  Orbay Asli Orbay Reporter, Arbitration and Litigation, Debtwire CEEMEA

The Kingdom  of Bahrain enacted a new bankruptcy law in December 2018, sweeping away its previous legislation and replacing it with a thoroughly modern toolkit. The law is a revolutionary improvement compared to what existed before, said lawyers polled by Debtwire.

Alexander Dooler Alexander Dooler Credit Markets Reporter, Debtwire

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.

Tomas  Cutts Tomas Cutts Reporter, Russia & CIS, Debtwire

Ukrainian bonds have had a roller-coaster week so far but have recovered to levels above last Friday’s (24 May) close, following supportive comments from President Volodymyr Zelensky’s team and a global investor call held by the country’s ministry of finance on 29 May, according to an analyst and a trader.

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