Mozambique: President of the Republic holds talks with the private sector on the business ...
Lee C. Bucheit is Mozambique’s govt default advisor, says WSJ
4:45 CAT | 08 Jun 2016
Leibniz-Institut für Wirtschaftsforschung an der Universität München (File photo) / Lee C. Bucheit in an inteview on the restructure of Greece's sovereign debt
Mozambique’s government “has brought in a prominent debt-restructuring specialist to advise on whether it should keep making payments” on some of the loans, the Wall Street Journal (WSJ) also reported Saturday (4 June).
On May 23, Mozambique missed a $178 mn payment due on the $535 mn VTB loan to Mozambique Asset Management (MAM), and is negotiating with VTB to restructure the debt.
WSJ reports that the government has brought in debt lawyer Lee C. Buchheit of Cleary Gottlieb Steen & Hamilton LLP to advise on the whole package of secret loans and bonds.
“Buchheit has advised on a number of debt restructurings, including Greece’s,” WSJ says.
By: Joseph Hanlon
Source: News reports & clippings
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