Overview

"In February 2009, trying to navigate the financial crisis, the government of Kazakhstan took a decisive step in restructuring its three banks. Kazakhstan rejected the bailout strategy and rejected a bad bank/good bank framework. Risk, Recovery, and Empowerment is a qualitative, investigative analysis, told by the author, a finance partitioner who devised and led the implementation of the over $30 billion Burden-Sharing Framework that became an international benchmark and redefined trade finance by introducing the term and analysis of 'true trade finance'. Before creating a tech startup (Blingby) and being awarded U.S. Patents, a Kazakhstan Patent, and Chinese Patents, Marcia-Elizabeth C. Favale (aka Favale-Tarter) had an illustrious career in finance. She was ranked by Institutional Investor Magazine as the ""Top Analyst for Emerging Market Corporate Bond Research"" (April 2006). She was the senior advisor to the prime minister of Kazakhstan (2009-2013) and the independent restructuring advisor to BTA Bank and Samruk-Kazyna, with her advisory firm ranked alongside UBS and Lazard as ""CEE Restructuring Firm"" by Euromoney Magazine (February 2010), amongst other accolades."

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The bankruptcy petition filed in the United States Bankruptcy Court for the Southern District of New York by Lehman Brothers on September 15, 2008, set off a world-wide economic nightmare. Its shock waves threatened a global depression. Marcia Elizabeth C. Favale's book, Risk, Recovery, and Empowerment: The Kazakhstan Bank Restructure Case Study walks the reader through how she constructed a Burden-Sharing restructuring strategy for three of Kazakhstan's biggest banks that were teetering on failure in the wake of Lehman's bankruptcy. Her strategy brought together conflicting interests of key stakeholders (bank management, depositors, shareholders, creditors, and government entities), which resulted in a hard-fought success for these divergent stakeholders and the people of Kazakhstan. We should all learn from Ms. Favale's strategy. --Paul Regan, CPA, author of The Forensic: How the CIA, a Brilliant Attorney, and a Young CPA Brought Down Howard Hughes When you combine the emotional intelligence of a great leader, along with the methodologies and control systems of project management, you get the positive outcome that the people of Kazakhstan did. This is not your everyday case study. Marcia Favale's efforts culminated in a masterpiece that now, with this book, we can all bear witness to. --Maureen Lippe, Lippe Taylor PR & Digital Marketing, author of Radical Reinvention A provocative read to be sure. Marcia Favale shares a practical but compelling map of economic history in a unique transcontinental country and demonstrates the power of one person's innovation, knowledge, expedient strategy, and courage to go-literally and figuratively-where the masses are not going. This is a timeless case study with important lessons for all governments. When Marcia talks, listen. -Pete Biolsi, SVP, Pricing and Profitability, Bank of America Effective strategists always have the ability to set a vision, solve problems, and rise above prosaic matters-especially when real people, real economics are at stake. What Favale accomplished is nothing short of brilliant. -David Carlucci, former New York State Senator (2011-2020) Drive business and cultural priorities 5,000 miles away from 'home'? Check. Demonstrate agility, empathetic leadership, comprehension of intricate factors and how the outcome will affect millions? Check. Risk taker and champion of a new solution rather than the safe route? That's her, too. And Marcia Favale triumphed. I would recommend this book to every project management student and guru alike for its rare, riveting insights. --Loretta Cate, D.Ph., CPCC Marcia Favale managed to avoid the traps and status quo from the economic collapse that rocked the world when bailouts reigned. Her intellectual vastness shines through in Risk, Recovery, and Empowerment, but I am most taken by her fearless leadership that drove an international benchmark. Sharing this case study in 2022 is no coincidence-it's urgently needed! --Scott N. Zambelli, Managing Partner, Heritage Harbor Financial Associates

"""The bankruptcy petition filed in the United States Bankruptcy Court for the Southern District of New York by Lehman Brothers on September 15, 2008, set off a world-wide economic nightmare. Its shock waves threatened a global depression. Marcia Elizabeth C. Favale's book, Risk, Recovery, and Empowerment: The Kazakhstan Bank Restructure Case Study walks the reader through how she constructed a ""Burden-Sharing"" restructuring strategy for three of Kazakhstan's biggest banks that were teetering on failure in the wake of Lehman's bankruptcy. Her strategy brought together conflicting interests of key stakeholders (bank management, depositors, shareholders, creditors, and government entities), which resulted in a hard-fought success for these divergent stakeholders and the people of Kazakhstan. We should all learn from Ms. Favale's strategy."" --Paul Regan, CPA, author of The Forensic: How the CIA, a Brilliant Attorney, and a Young CPA Brought Down Howard Hughes ""When you combine the emotional intelligence of a great leader, along with the methodologies and control systems of project management, you get the positive outcome that the people of Kazakhstan did. This is not your everyday case study. Marcia Favale's efforts culminated in a masterpiece that now, with this book, we can all bear witness to."" --Maureen Lippe, Lippe Taylor PR & Digital Marketing, author of Radical Reinvention ""A provocative read to be sure. Marcia Favale shares a practical but compelling map of economic history in a unique transcontinental country and demonstrates the power of one person's innovation, knowledge, expedient strategy, and courage to go-literally and figuratively-where the masses are not going. This is a timeless case study with important lessons for all governments. When Marcia talks, listen."" -Pete Biolsi, SVP, Pricing and Profitability, Bank of America ""Effective strategists always have the ability to set a vision, solve problems, and rise above prosaic matters-especially when real people, real economics are at stake. What Favale accomplished is nothing short of brilliant."" -David Carlucci, former New York State Senator (2011-2020) ""Drive business and cultural priorities 5,000 miles away from 'home'? Check. Demonstrate agility, empathetic leadership, comprehension of intricate factors and how the outcome will affect millions? Check. Risk taker and champion of a new solution rather than the safe route? That's her, too. And Marcia Favale triumphed. I would recommend this book to every project management student and guru alike for its rare, riveting insights."" --Loretta Cate, D.Ph., CPCC ""Marcia Favale managed to avoid the traps and status quo from the economic collapse that rocked the world when bailouts reigned. Her intellectual vastness shines through in Risk, Recovery, and Empowerment, but I am most taken by her fearless leadership that drove an international benchmark. Sharing this case study in 2022 is no coincidence-it's urgently needed!"" --Scott N. Zambelli, Managing Partner, Heritage Harbor Financial Associates"

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