| Abstract: | In connection with its global assignment of recovery and issue ratings, Standard&Poor's Ratings Services has assessed the Israeli insolvency regime as a Group A2 jurisdiction, based on its relative degree of "creditor-friendliness" as defined in Standard&Poor's report titled "Jurisdiction-Specific Adjustments To Recovery And Issue Ratings," published June 20, 2008, and available on RatingsDirect at www.ratingsdirect.com. Israel has a well-developed body of commercial law and an experienced and practical bar, judiciary, and financial service community. Its insolvency regime is, on the whole, "creditor-friendly." Debt recoveries for secured creditors are strong, primarily due to creditors' ability to foreclose on collateral, even during liquidation proceedings. Unsecured creditors have a voice in a debtor's insolvency proceedings due to their ability
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| Brief Excerpt: | RESEARCH Ratings Definitions Debt Recovery For Creditors And The Law Of Insolvency In Israel Publication date: 20-Aug-2008 Primary Credit Analyst: Agnes M DePetigny, Paris (33) 1-4420-6670; agnes_depetigny@standardandpoors.com Secondary...
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| Report Type: | Commentary
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| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, International Public Finance, Real Estate Companies, Residential MBS, Servicer Evaluations, Sovereigns, Structured Finance
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