Sentences with phrase «bondholders forced»
After playing a two - year game of chicken with management, bondholders forced the company to wipe out shareholders and legally separate the Lake Erie operation — the most modern integrated steel plant in North America — from the Hamilton mill and its related obligations.
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Can they expect the same results they achieved in the case of Argentina, in which a series of bondholder - friendly court verdicts ultimately forced the government to settle?
Or it may be forced to pile on the debt, hurting current bondholders.
If Greece fails to persuade enough bondholders to take voluntary losses, it may pass a law activating clauses in the bonds that would force creditors to take losses.
Instead of freeing industrial capitalism from landlords, natural resource owners and monopolists, Western banks and bondholders joined forces with them, seeing them as major customers for as much interest - bearing credit as would absorb the economic rent that governments would refrain from taxing.
States and cities are now insisting that bondholders can not be paid without stiffing their labor force.
Brodsky's rationale — that bankruptcy would leave local pols in charge while forcing bondholders to «share the pain» of eliminating deficits — also highlights the risk that multiple bankruptcies would lead to higher borrowing costs for all New York localities.
As Puerto Rico has been forced to borrow, bondholders have made millions off of the high interest loans.
The firm could be forced to sell or liquidate, and equity ownership could pass to its creditors and bondholders.
The banks could force repayment, and if I were a leading bondholder (calling the major life insurers), I would have one of my lawyers make a courtesy call to MBIA's lawyers, and suggest that any payment of bonuses could be viewed as fraudulent conveyance.
Loans must be repaid or the bondholder can take legal steps, including forcing the company into bankruptcy.
A high interest rate, thought to be «locked in,» disappears, and the bondholder is forced to reinvest at lower rates.