Press conference announcement: Possible defaults in various sectors of Ukrainian economy and ways of avoiding them: the view of the regulator, legal view and the opinion of the rating agencies
31/03/2009
Vasil Kisil & Partners Law Firm and Credit-Rating rating agency invite mass media representatives, companies that are issuers of special purpose bonds, asset management companies and investors to participate in a press-conference entitled:
Possible defaults in various sectors of Ukrainian economy and ways of avoiding them: the view of the regulator, legal view and the opinion of the rating agencies
Date: April 2, 2009
Time: 1.30 pm - 2.30 pm
Place of the event: press center of the UNIAN information agency, Khreshchatyk, 4
Under the new economic circumstances, many developers found themselves in the situation when the term for the retirement of special-purpose bonds is due, but the construction project is not finished or not ready for functional use. This particular situation is called default. As of 2009, default became a mass phenomenon inherent to the real estate and construction market. As a result, not only financial interests of the developers, but also the rights of investors, those who bought the real estate under construction, received a serious blow. The investors now face the most difficult choice: to seek the redemption of bonds or, regardless of the newly appeared rights, to trust the developer and to wait for the construction project to be finished and ready for use?
Considering all of the above now it is time to react to the growing number of the defaults of those developers who issued special-purpose bonds in order to finance construction projects. In order to determine the most efficient mechanisms of defending the rights of developers who face defaults and the rights of investors who became trapped by the financial instruments they purchased, we invited you to participate in a press conference.
During the press conference, a respected speaker panel will provide a comprehensive review of how the growing number of defaults by special-purpose bond issuers is affecting the perspective of the Ukrainian bond market development. Among other issues to be discussed, there are also the following: legal mechanisms of preventing defaults in the area of construction finance and how restructuring affects credit rating of the Ukrainian issuers.
Accreditation is necessary, please, contact Tatyana Sabitova at +38 044 581-7777 or [email protected]
Possible defaults in various sectors of Ukrainian economy and ways of avoiding them: the view of the regulator, legal view and the opinion of the rating agencies
Date: April 2, 2009
Time: 1.30 pm - 2.30 pm
Place of the event: press center of the UNIAN information agency, Khreshchatyk, 4
Under the new economic circumstances, many developers found themselves in the situation when the term for the retirement of special-purpose bonds is due, but the construction project is not finished or not ready for functional use. This particular situation is called default. As of 2009, default became a mass phenomenon inherent to the real estate and construction market. As a result, not only financial interests of the developers, but also the rights of investors, those who bought the real estate under construction, received a serious blow. The investors now face the most difficult choice: to seek the redemption of bonds or, regardless of the newly appeared rights, to trust the developer and to wait for the construction project to be finished and ready for use?
Considering all of the above now it is time to react to the growing number of the defaults of those developers who issued special-purpose bonds in order to finance construction projects. In order to determine the most efficient mechanisms of defending the rights of developers who face defaults and the rights of investors who became trapped by the financial instruments they purchased, we invited you to participate in a press conference.
During the press conference, a respected speaker panel will provide a comprehensive review of how the growing number of defaults by special-purpose bond issuers is affecting the perspective of the Ukrainian bond market development. Among other issues to be discussed, there are also the following: legal mechanisms of preventing defaults in the area of construction finance and how restructuring affects credit rating of the Ukrainian issuers.
Accreditation is necessary, please, contact Tatyana Sabitova at +38 044 581-7777 or [email protected]