Hints and tips:
...Since then its senior unsecured creditors have received more than £35bn, and PwC, the administrator, is now looking at a potential surplus of between £7bn and £8bn to be distributed to creditors, who are...
...During the financial crisis, the real-time, practical manifestation of the liquidity v. solvency debate was about what financial institutions were worth saving....
...In Azevedo v....
...See NML v. Argentina, 2013 WL 4487563 at n.13....
...Unfortunately it doesn’t quite work for NML v Argentina....
...The Bonds will rank equally in right of payment with all existing and future unsubordinated and unsecured External Debt of Paraguay....
...The debt securities will be the direct, unconditional, unsecured and general obligations of Italy....
...– ‘ranking’ language, which could support a view that the clauses only promise equal legal ranking of creditors.)...
...For now, the boundary has been maintained between senior unsecured and (all) subordinated securities, with depositors well clear....
...The feature is supposed to prevent any one creditor building up a blocking stake in a particular security. Which would be where the Second Circuit’s October decision in NML v Argentina comes in....
...China is the biggest creditor nation of the United States, holding a large amount of US debts....
...Faced with the prospect of a bankruptcy that could turn a secured loan into an unsecured credit or one whose repayment might be delayed pending FDIC approval, money funds would likely be especially leery...
...of asset quality than the own-originated loan portfolio of Bradford & Bingley; (iii) the weakening position of unsecured creditors in view of approximately 50% of assets being pledged to secured creditors...
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