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"The downside offers too much risk to existing equity holders," he said.
Providing existing equity investors and multinationals stay put, India can probably handle a debt-buyers' strike.
Shareholders were disappointed, however, because the new shares would dilute the value of existing equity.
The government's main role would be to force existing equity holders to offer the swaps to creditors.
However, even under a wide range of scenarios we find it difficult to envisage any meaningful value for the existing equity.
A bankruptcy filing for Chrysler would most likely wipe out existing equity stakeholders, notably Cerberus Capital Management, which took over the carmaker from Daimler in 2007.
Similar(29)
UBS's newly created investor client services unit – inside its investment banking division – will include the firm's existing equities, foreign exchange and credit operations.
They also dispel the notion that "you can't lose money". "Existing equity-indexed annuities are too complex for the industry's sales force and its target investors to understand the investment.
Our designs, built on this theme, extended existing equities while moving on from the past.
A good cut in the current capital gains levy to, say, 15% would do wonders for both existing equities and future equities!
In 1982, Venture Capital Fund of America, the first private equity firm focused on acquiring secondary market interests in existing private equity funds was founded and then, two years later in 1984, First Reserve Corporation, the first private equity firm focused on the energy sector, was founded.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com