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Lawyers for whom the debt crisis of the early 1980s created an interesting intellectual challenge how do you deal with a borrower which can go bust but can’t be wound up? have seen it turn into their life’s work. Mexico’s peso devaluation of late 1994 reminded them, if reminder were needed, that demand for their expertise should outlast their careers. The problem is that the legal solutions devised in the 1980s are themselves already outdated. |
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