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It said: Kaz was one of the best performing global copper stocks in 2014 following the successful group restructuring completed in late 2014.
ARGENTINA'S $80 billion debt restructuring, completed in February 2005, looked like a catastrophe for investors in emerging markets.
In fact, that has already happened to a lot of Greece's creditors in the debt restructuring completed in March.
Mr. Rovinescu said that he had decided "to hand the reins over to a fresher face to get the remaining 10percentt of the restructuring completed".
The Kazakh restructuring, completed in September this year, is unusual because instead of getting a state guarantee, the majority of the creditors of BTA Bank, the biggest problem, shared the pain.
A vital part of the treatment was the gradual access to internet-based self-help text comprising 15 text modules, each covering a specific theme (e.g., exposure or cognitive restructuring) completed with a homework component.
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That makes a classic restructuring, complete with redundancies and cost-cutting, unlikely.
"There will be many twists and turns before this restructuring is completed," he said.
The restructuring, if completed, would be the second for the park.
The company said that it expected pretax savings of $2 million after the restructuring is completed.
The new loan agreement was reached last month and the debt restructuring was completed last week.
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