To Russia there have arrived experts on vybivaniju debtsAs it became known “ to the Businessman “ the western investors have developed the plan on “ vyta
To Russia there have arrived experts on vybivaniju debts
As it became known “ to the Businessman “ the western investors have developed the plan on “ vytaskivaniju “ the Russian debts. The basic developers of idea - investment fund Orion, group of experts of bank MFK and bank CS First Boston. To the Russian debtors experience of the countries of Latin America will be applied.
the Idea of re-structuring is simple enough and reminds creation of the creditors who have become by already habitual clubs. Creditors of the Russian companies transfer the requirements in control to specially created fund. The fund focuses in the hands all requirements to the concrete debtor and starts to work with it, using advantages of the largest creditor. In particular, the developed variants “ vybivanija “ debts assume introduction of representatives of fund in directing bodies of debtors. Also the exchange of actives of fund for more liquid, including cash (something similar to the PIF, only as payments debts will be accepted) is planned.
the Project “ bilateral “: the Russian team operates actives, and western provides legal (depozitary) and project encouragement.
under the data, as initiators of the project the group of experts of bank MFK led by the first vice-president Sergey Vasilevym has acted. Vasilev asserts that opening of own new business (Vasilev - one of developers of the project) will not be connected with its work on a post of vice-president MFK. Nevertheless the new company has received the first order for re-structuring of debts from MFK.
As the western guarantors of the project bank CS First Boston and investment fund Orion are involved. From fund Victor Huago, the former employee Citycorp which was engaged in the beginning 90 - h re-structuring of debts of Mexico, Venezuela and Brazil becomes the organizer of the project. Huago has declared that usually the exchange of requirements on debts on the property was a re-structuring result in Latin America. “ eventually creditors received instead of building requirements, ports, the industrial companies, - Huago has told. - Also it is necessary to consider that it not trade in the market, and entirely individual transactions “. Thus, as he said, through 3 - 5 years investors received back more than 100 % of the enclosed means.
it is necessary to notice that the project has also opponents. One of the western bankers in conversation with the correspondent has declared that “ the idea will not pass “ As CSFB is the largest creditor of Russia and its participation in project working out will inevitably lead to the conflict of interests.
will watch succession of events.
PETER - RUSHAJLO