Creditors agree on procedures; government hopes pacts speed debt cleanup
Article Abstract:
Thailand has introduced procedures on restructuring corporate debts which has met creditor approval. A total of 65 foreign and domestic financial institutions have signed the agreements on Mar 19, 1999, which involved intercreditor and debtor-creditor policies on timetables and procedures. The Thai government's primary objective for proposing the measure is to minimize the delays resulting from conflicts among creditors about negotiation procedures. The agreement is hailed as the first of its kind in the world.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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America, heal thy own financial sector
Article Abstract:
US officials usually boast of their financial services industries and uphold them as a model which must be followed by Asian countries. However, they should begin to analyze their own financial sector because it has the same structural problems which have caused the downfall of Japan's banks. The fundamental flaw which caused Japan's lending crisis was a cultural and institutional framework which permitted portfolio managers to disregard their errors until it was too late.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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