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If a borrower restructures its debt with a debt holder that is also an equity holder, the counterparty may be considered a related party. In that case, it may not be appropriate to recognize any associated gain or loss in the income statement under ASC 470-50-40-2. Instead, such a restructuring may be essentially a capital transaction, and the gain or loss may be required to be classified in equity. See FG 3 for details on the accounting for this type of transaction.
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