Dec
06
Busy Bankruptcy Lawyers Put Egypt Economic Overhaul on Notice
By-
Rising costs, struggling firms create conditions for unrest
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Government has promised stimulus plan to tackle slowdown
Salama Faris is in demand these days, and that’s bad news for the Egyptian economy.
The bankruptcy lawyer has received a flurry of phone calls since authorities abandoned currency controls and raised energy prices in an effort to ease a dollar shortage crippling the economy. Some asked about the legal consequences of defaulting on liabilities. Others were concerned that surging costs may force them to shut companies.
“Everything is becoming more expensive and many businesses are struggling,” Faris said in an interview in Cairo…
Busy Bankruptcy Lawyers Put Egypt Economic Overhaul on Notice
