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Array ( [results] => Array ( [0] => Array ( [ArticleID] => 176165 [Title] => Banks air concern over a watered-down SPAV Law [Summary] => Watering down the Special Purpose Asset Vehicle (SPAV) Law to cover only foreclosed assets would do more harm than good to the banking sector and possibly trigger the foreclosure of non-performing loans (NPLs).
Officials said yesterday that the emerging consensus to water down the SPAV law to the point where it would apply only to the disposition of foreclosed assets would eliminate the objective of encouraging banks to dispose of problematic loans for restructuring.
[DatePublished] => 2002-09-16 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) [1] => Array ( [ArticleID] => 173501 [Title] => Cerberus bypasses RP, invests $500-M in Thailand [Summary] => Dismayed by the delay in the passage of the SPAV law, the US-based Cerberus Capital Management, L.P. has bypassed the Philippine banking industry and instead invested $500 million buying bad loans in Thailand where the laws on asset management companies are more transparent.
Known as a leader in the international distressed debt, securities and reorganization market, Cerberus has invested over $20 billion in the market and has an available capital in excess of $7 billion that it plans to invest in Asia, specifically Japan, Korea and Thailand.
[DatePublished] => 2002-08-26 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Business [SectionUrl] => business [URL] => ) ) )
WHEN CERBERUS
Array ( [results] => Array ( [0] => Array ( [ArticleID] => 176165 [Title] => Banks air concern over a watered-down SPAV Law [Summary] => Watering down the Special Purpose Asset Vehicle (SPAV) Law to cover only foreclosed assets would do more harm than good to the banking sector and possibly trigger the foreclosure of non-performing loans (NPLs).
Officials said yesterday that the emerging consensus to water down the SPAV law to the point where it would apply only to the disposition of foreclosed assets would eliminate the objective of encouraging banks to dispose of problematic loans for restructuring.
[DatePublished] => 2002-09-16 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096655 [AuthorName] => Des Ferriols [SectionName] => Business [SectionUrl] => business [URL] => ) [1] => Array ( [ArticleID] => 173501 [Title] => Cerberus bypasses RP, invests $500-M in Thailand [Summary] => Dismayed by the delay in the passage of the SPAV law, the US-based Cerberus Capital Management, L.P. has bypassed the Philippine banking industry and instead invested $500 million buying bad loans in Thailand where the laws on asset management companies are more transparent.
Known as a leader in the international distressed debt, securities and reorganization market, Cerberus has invested over $20 billion in the market and has an available capital in excess of $7 billion that it plans to invest in Asia, specifically Japan, Korea and Thailand.
[DatePublished] => 2002-08-26 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Business [SectionUrl] => business [URL] => ) ) )
abtest
By Des Ferriols | September 16, 2002 - 12:00am
August 26, 2002 - 12:00am
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