bankruptcy

Spanish economy 20th September 2021

Spain: The Bankruptcy Reform Bill Is Not To Anyone’s Liking

J.C. González Vázquez * | On August 3rd, the Council of Ministers finally approved the long-awaited Bill for the adaptation of our insolvency legislation to EU Directive 2019/1023 regarding preventive restructuring frameworks, discharge of debt and disqualifications. In addition, measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt. Great hopes had been placed on it because it was thought that it would help to save…

Markets 24th April 2012

Why U.S. munis bond holders are not to worry

NEW YORK | Last November, the U.S. dealt with their biggest municipal bankruptcy in their history: Alabama’s Jefferson County, on the south of the Appalachians, filed for the so-called Chapter 9 after government officials and creditors (among them are JPMorgan and Bank of America) failed to set an agreement on the more than $3 billion in sewer debt. Jefferson county is not alone. More municipalities have been suffocated by debt since…

Markets, World economy 7th December 2011

The largest bankruptcy in American history comes to an end

New York | Although Lehman Brothers collapsed more than three years ago, its full dissolution depended on settling creditors’ claims worth around $450 billion. On Tuesday, a federal judge paved the way for the now infamous firm to exit Chapter 11 protection. The final phase of the largest and most complex biggest bankruptcy in US history –as the firm defined it– that tipped world economies into chaos, involving 7,000 legal…