| Abstract | Following the guidelines issued jointly by the Hong Kong Association of Banks (HKAB) and the Hong Kong Monetary Authority (HKMA) to codify the principles governing corporate debt restructuring and workouts, the speech delivered by David Carse, Deputy Chief Executive of the HKMA, at the Seminar on Hong Kong Approach to Corporate Difficulities on 29 November 1999 outlines the general process involved in a workout, the role of the HKMA, and its expectations of banks in facilitating a successful workout. |
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