| 24.04.2012 - Kazakhstan's BTA halts payment on recovery note debt |
| Kazakhstan's BTA Bank, majority owned by the country's sovereign wealth fund, on Monday said it was suspending payment on recovery notes with a reference value of $5.2 billion after defaulting on a $2 billion dollar bond earlier this year. The Recovery notes were issued to some creditors during an earlier debt restructuring in 2009 and were supposed to pay out whenever BTA managed a certain level of asset recovery...............................................Full Article: Source |