Equally significant was Brazil apos s agreement with its commercial bank creditors.

Efforts should continue to reach agreement on a mechanism that ensures fair burden sharing between debtors and creditors.

Peru began talks with its commercial bank creditors in September 1993, but agreement has not yet been concluded.

Judgement creditors

The delay in reaching an agreement enabled most private creditors to escape the consequences of their reckless lending to Greece.

Statutory (preferential) creditors

Creditors in insolvency proceedings

Protection of secured creditors

Debt to official creditors

Member countries are now divided into two classes creditors and debtors with the creditors in charge.

In December 2004, Congo reached an agreement with Paris Club creditors to treat the maturities falling due between 2004 and 2007 under the Naples Terms.

Sovereign debt restructurings with private creditors

How long does default last before the country can reach an agreement with its creditors? How much more must it pay for access to debt markets later?

Even former creditors benefited from this rebound.

Bailing in creditors will exacerbate these trends.

Inflation would clearly make creditors worse off.

Creditors take a loss on the rest.

As a result, the eurozone has become divided into creditors and debtors, with the creditors in charge of economic policy.

Second, the European Union has taken the least legally difficult route to debt crisis resolution the so called contractual approach, which aims at facilitating agreement with private creditors.

This was in response to the demands of creditors who said that, unlike previous arrangements, which were of a purely technical nature, the present agreement required political consensus.

According to press reports, in 1993 the liquidators of BCCI reached an agreement with BCCI creditors and depositors domiciled in the Cayman Islands, regarding the amount of their reimbursements.

Creditors can agree to relax Greece s fiscal targets.

These recommendations would then apply to all creditors.

The super priority ranks ahead of administrative creditors.

I'll just fake it to hold off creditors.

One approach to this issue is to consider whether the savings to creditors collectively would outweigh the incidental detriment to individual creditors.

From the early days of the developing country debt crisis, official and private creditors have sought to restructure debt in collective creditor forums the Paris Club for official bilateral creditors and bank advisory committees for bank creditors.

(v) Notification of foreign creditors Model Law article 14

Government creditors have not been under the same pressure.

A policy of concessions from creditors therefore remained necessary.

Eventually, the agreement will trigger Grexit, either because the creditors withdraw their support after fiscal targets are missed, or because the Greek people rebel. Triggering that exit is transparently Germany s intent.

Similarly, Nigeria secured from its commercial creditors a review of terms for paying back US 7 billion, while Algeria concluded a refinancing agreement worth US 2 billion with a banking consortium.

The Greek crisis is liable to come to a climax in the fall, even if the election produces a government that is willing to abide by Greece s current agreement with its creditors.

When push comes to shove, domestic politics trumps foreign creditors.

Price inflation forces creditors to accept repayment in debased currency.

The banks creditors or governments ultimately would bear any losses.

Creditors obviously support bailing out debtor countries to protect themselves.

Creditors of a corporation cannot recover debts from a shareholder.

The euro crisis is now turning the EU into something fundamentally different, dividing member countries into two classes creditors and debtors with the creditors in charge.

Because healthy competition among all potential creditors is an effective way of reducing the cost of credit, the Guide recommends that the secured transactions regime apply equally to various creditors, including banks and other financial institutions, as well as domestic and non domestic creditors.

The delay in reaching an agreement enabled most private creditors to escape the consequences of their reckless lending to Greece. Roughly half of Greece s external debt migrated from the private sector to official institutions.

One more country, Argentina, completed a debt agreement with its commercial bank creditors in the framework of the Brady Plan, named after the former Secretary of the Treasury of the United States of America.

In another important development, the Philippines and its commercial bank creditors arrived at an agreement in December 1992 on the second phase of the commercial bank part of its overall external debt reduction strategy.

They depended much less on foreign creditors than on domestic lenders.

For both borrowers and creditors, the risks and costs are enormous.