01852cas a2200241 a 4500 AALejournalIMF003070 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451859348 1018-5941 BD-DhAAL BD-DhAAL Mandeng, Ousmene. Intercreditor Distribution in Sovereign Debt Restructuring / Ousmene Mandeng. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Intercreditor equity represents one of the main objectives of bankruptcy proceedings. Yet, recent restructurings of sovereign debt suggest that violation of intercreditor equity is common. While existing contractual provisions, and guidelines issued by creditor committees, establish fundamental principles about creditor treatment, they seem to remain too vague to guide debt restructuring processes effectively. The paper focuses on distribution, and argues that lack of clear guidelines for distribution may complicate and delay the resolution process and induce undue uncertainty about the predictability and viability of the restructuring outcome. The paper discusses and proposes parameters which may contribute to establishing explicit principles for the assessment of intercreditor equity in distribution. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2004/183 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/183/001.2004.issue-183-en.xml IMF e-Library