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Full-Text Articles in Law
Mexico's Banks After The December 1994 Devaluation--A Chronology Of The Government's Response, Roy A. Karaoglan, Mike Lubrano
Mexico's Banks After The December 1994 Devaluation--A Chronology Of The Government's Response, Roy A. Karaoglan, Mike Lubrano
Northwestern Journal of International Law & Business
The immediate effects of the December 1994 peso devaluation and the period of high interest rates and economic recession that followed had important repercussions for the Mexican banking and financial system. Since the onset of the crisis, the Mexican government has undertaken a number of important actions designed to assure adequate capitalization of financial institutions and continued public confidence in the banking system. The goal throughout has been to avoid a banking crisis that would exacerbate the contraction in the real economy and to set the stage for a recovery of the financial system based on sound institutions and efficient …
Towards A Sovereign Debt Work-Out System;, Rory Macmillan
Towards A Sovereign Debt Work-Out System;, Rory Macmillan
Northwestern Journal of International Law & Business
In a future sovereign debt crisis, debt restructurings are inevitable simply because there is no alternative. Private lending becomes simply unavailable. The commercial banks were asked to lend to Mexico in early 1995 as part of the U.S. Government rescue plan, but the money never materialized.3 The banks' experience of involuntary lending during the 1980s debt crisis was so unpleasant that they are unlikely to increase exposure to a troubled debtor in a crisis today. Other sources of finance are no more likely to yield support. Mexico was unable to return to the capital markets until six months after the …
Restructuring Strategies For Mexican Eurobond Debt, Duncan N. Darrow, Peter V. Darrow, Douglas A. Doetsch, Miguel Jauregui-Rojas
Restructuring Strategies For Mexican Eurobond Debt, Duncan N. Darrow, Peter V. Darrow, Douglas A. Doetsch, Miguel Jauregui-Rojas
Northwestern Journal of International Law & Business
Unless the international capital markets become widely receptive to refinancing Mexican Eurobonds, by early to mid 1996, the holders of these Eurobonds - Mexico's new "bondholder constituency" - may find themselves at the center of a restructuring process encompassing a significant portion of the $13 billion of Eurobond debt outstanding. This article discusses strategies for restructuring.