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Lebanese Banks Seek Adviser for Potential Talks on $80B of Losses

Lebanese Banks Seek Adviser for Potential Talks on $80B of Losses

Bloomberg6 days ago
Lebanese lenders are preparing to appoint an adviser as they gear up for potential talks with the central bank over some $80 billion in claims, a pivotal step in untangling the financial crisis that hit the Middle East's most indebted nation and stalled international bailout efforts.
The Association of Banks in Lebanon, a grouping of about 60 lenders that's also known as ABL, is looking at proposals from Alvarez & Marsal and Ankura to conduct the negotiations, according to people familiar with the matter, who asked not to be identified because talks are private.
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