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Debt Recovery For Creditors And The Law Of Insolvency In Israel Aug 08
Standard & Poors, Aug 2008
Abstract
In connection with its global assignment of recovery and issue ratings, Standard & Poor's Ratings Services has assessed the Israeli insolvency regime as a Group A2 jurisdiction, based on its relative degree of 'creditor-friendliness' as defined in Standard & Poor's report titled 'Jurisdiction-Specific Adjustments To Recovery And Issue Ratings,' published June 20, 2008, and available on RatingsDirect at www.ratingsdirect.com. Israel has a well-developed body of commercial law and an experienced and practical bar, judiciary, and financial service community. Its insolvency regime is, on the whole, 'creditor-friendly.' Debt recoveries for secured creditors are strong, primarily due to creditors' ability to foreclose on collateral, even during liquidation proceedings. Unsecured creditors have a voice in a debtor's insolvency proceedings due to their ability...
Companies mentioned in this report are: Israel (State of)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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