The Unprecedented Financial Crisis of the Evergrande Group

From the 2022 TMA Annual

All eyes are on the largest property developer in China, the Evergrande Group, as offshore creditors holding bonds and notes are looking at billions of dollars in losses if they do not act to protect their interests in various jurisdictions. The preliminary...

IMPACT 2020: The TMA Annual Experience

From IMPACT 2020: The TMA Annual Experience

In the world that is our new normal, actual, anticipated, or deferred loan defaults are swirling around everywhere. Are best practices that were employed just months ago applicable to today? With a whirlwind of borrowers...

While the main focus of academic and professional investment research in the risky corporate credit market has typically been on the performance of high-yield bonds, including, importantly, the default and recovery rates of those bonds that default, there is very little similar work on defaulted...