FerroChina restructuring reassures foreign creditors

Author: | Published: 1 Oct 2009

But, as FerroChina’s pending restructuring shows, if creditors are not onshore, the chance of recovering their cash is slim.

After months of speculation, the last of FerroChina’s five groups of creditors voted on Sunday to approve a restructuring that will see onshore creditors walk away with a portion of their cash.

“There’s been a fear that foreign creditors will be treated badly so this deal has been good from that perspective,” says one insider close to the deal. “There...