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A majority of lenders and major creditors support the restructuring plan, Reddy Ice said on Thursday.
The sale of its CAP business, shortly after the end of the financial year, was an important step in providing the financial resources to support the restructuring and invest in the future development of the Group.
Mr. Dai said the central bank would also support the restructuring of the country's banks into shareholding corporations that can later go public, something that would presumably increase their capital and force them to adopt more efficient and open management.
"Business presidents now have a great deal of freedom," says FitzGerald, "and that is an incentive [to support the restructuring] in itself".
Nonetheless, President Vladimir Putin has told Russian officials to restructure a 2.5bn-euro loan extended to Cyprus in 2011 in order to support the restructuring effort.
An administration official said that if bondholders don't support the restructuring proposal, they should expect to see little or no recovery of their investments in the company, as they would rank too far down on the capital structure for repayment in a bankruptcy proceeding.
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One lobbyist who supports the restructuring said the problem was in part a Catch-22.
Nevertheless, he supported the restructuring of the N.A.S.D. into a publicly held entity.
MBIA had supported the restructuring as a means to help unfreeze municipal finance markets after the 2008 financial crisis.
In 2010, Mr. Ryan explained that he supported the restructuring act "to prevent the auto companies from getting TARP dollars" — which they eventually did.
In this experience, the Brazilian MPS-SV service reference model, which is representative for similar international standards, directly supported the restructuring to the service-oriented approach.
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