OBJECTS AND REASONS
This Bill would provide for
- (a) certain individuals and institutions holding treasury bills, treasury notes and debentures issued or guaranteed by the Government of Barbados; and
- (b) certain individuals and institutions holding certain other Barbados dollar denominated debt instruments incurred or guaranteed by the Government, state owned enterprises or Government supported entities,
to facilitate the restructuring of those instruments through the voting process set out in this Act and to bind all the affected creditors to the terms of the comprehensive debt restructuring proposals where a specified super majority of those creditors approve the proposals.