AIFUL Corporation

Event Publicly Available Information:

On June 13, 2014, AIFUL Corporation, a Japanese company, announced that the repayment schedules of its debts of 52.7 billion yen have been changed. Has a Restructuring Credit Event occurred with respect to AIFUL Corporation?
Press release (English)
Press release (Japanese)
Reuters news article

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Additional Information

Issue Number:

2014061601

Submitted by:

General Interest Question

Category:

Credit Event

Coverage Election:

Not Applicable

Status:

Closed

Outcome:

Question Decided
Procedural History
- Closed
  
  Japan Determinations Committee Decision 09072014
  July 9, 2014: The reasoning behind the resolution of the DC on 8 July 2014, that a Restructuring Credit Event of AIFUL Corporation had not occurred, was that the extension of the maturity of the debt due on 10 July 2014 was considered by the DC to be part of the process contemplated by the Business Revitalisation Plan in 2009 and not caused by any separate deterioration in the creditworthiness of AIFUL Corporation.
  7/09/2014 12:55pm EDT
- Closed
  
  Japan Determinations Committee Decision 08072014
  July 8, 2014: The DC continued discussions in respect of the potential Restructuring Credit Event relating to AIFUL Corporation and resolved that no Restructuring Credit Event had occurred in these circumstances.
  7/08/2014 06:45am EDT
- Ongoing
  
  Japan Determinations Committee Decision 01072014
  July 1, 2014: The DC continued its discussion of the potential Restructuring Credit Event relating to AIFUL Corporation and resolved to meet again on Tuesday 8 July 2014 to further continue discussions.
  7/01/2014 07:20am EDT
- Ongoing
  
  Japan Determinations Committee Decision 23062014
  June 23, 2014: The DC agreed that there was sufficient Publicly Available Information to satisfy the requirements of Section 2.1(b) of the DC Rules but that there was not sufficient information to determine the DC Question. DC members voted to extend the deadline for holding a binding vote on the DC Question.
  
  6/23/2014 11:10am EDT
- Ongoing
  
  Japan_Determinations_Committee_Decision_20062014
  June 20, 2014 The DC discussed whether the supporting information provided to the DC Secretary constitutes sufficient Publicly Available Information to enable the DC to consider the DC Question in accordance with Section 2.1(b) of the DC Rules. The DC Secretary informed the DC that additional supporting information (in Japanese) had been provided to the DC Secretary shortly before the DC meeting, which would be circulated to the DC once it had been translated. The DC agreed to meet again on Monday 23 June 2014 to consider the supporting information provided to the DC Secretary (both initial and subsequent) and voted to defer resolution of the issue until that meeting.
  6/20/2014 10:00am EDT
- Request Accepted by DC
  
  6/17/2014 10:35am EDT
- Pending DC Consent
  
  6/16/2014 01:10pm EDT