Part I, is about the practice and theory perplexity in non-bankruptcy liquidation.

第一部分为非破产清算的实践及其理论困惑。

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In theory, the liquidation of IBRC and enforcement of its security by NAMA should mean that the Ministerial guarantee and counter indemnity from IBRC to honour this guarantee are in place and the enforcement of NAMA on its security in the acquisition of the Facility Deed ELA means the indemnity on the IBRC assets to honour the ministerial guarantee comes into play.

FORBES: Euro Exit Scenarios