Comments on: Media Room http://www.kzbonds.com THE ASSOCIATION OF BONDHOLDERS OF BTA BANK OR ASTANA FINANCE Thu, 02 Jul 2009 10:54:30 +0000 http://wordpress.org/?v=abc hourly 1 By: investor http://www.kzbonds.com/index.php/media-room/comment-page-1/#comment-3 investor Thu, 02 Jul 2009 10:54:30 +0000 http://www.kzbonds.com/?page_id=32#comment-3 Hi to everyone. As an experienced investor in FSU contries, I'd like to give my opinion on current situation on BTA & AF debts. Truely speaking - the situation is pretty bad, I с only 1 possible way - this way is restructuring. I'm familiar with process of bankrupcy and conservation of banks in Kz, if this case happens - no any bondholders or corporate lenders will get possible recovery even 1 cent per dollar (legal procedures have nothing to do with it). The country is very corrupt, and best assets of the banks will be wiped away in a minute (by persons close to government and wellfare fund), if the decision of conservation or bankrupcy will be taken. There's a practical example of such a process - VTB ValyutTranzitBank was declared bankrupt in early 2007, the liquidation comittee is still working, and even 3-d line creditors haven't got recovery. So, the best choice IMHO, is restructuring Hi to everyone.
As an experienced investor in FSU contries, I’d like to give my opinion on current situation on BTA & AF debts. Truely speaking – the situation is pretty bad, I с only 1 possible way – this way is restructuring.
I’m familiar with process of bankrupcy and conservation of banks in Kz, if this case happens – no any bondholders or corporate lenders will get possible recovery even 1 cent per dollar (legal procedures have nothing to do with it). The country is very corrupt, and best assets of the banks will be wiped away in a minute (by persons close to government and wellfare fund), if the decision of conservation or bankrupcy will be taken.
There’s a practical example of such a process – VTB ValyutTranzitBank was declared bankrupt in early 2007, the liquidation comittee is still working, and even 3-d line creditors haven’t got recovery.

So, the best choice IMHO, is restructuring

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