Category: Cramdown

International Law’s Tinkerbell moment: Part 2, The ones who had hissed

14 July, 2014 (09:53) | Argentina, Bonds, Cramdown, Finance, International law, Law, Markets, Politics, Recapitalization, Securities, Speculation, World Cup |

[Continued from yesterday’s Part 1.] By: David A. Smith Do you believe in bondholder rights? “If you believe,” Peter shouted to the voices, “clap your hands; don’t let Tink die.” Many clapped. Peter Pan, Chapter 13, Do you believe in fairies? As we saw in yesterday’s post, like Tinkerbell international law must be believed in […]

International Law’s Tinkerbell Moment: Part 1, What do you think?

11 July, 2014 (10:00) | Argentina, Bonds, Cramdown, Finance, International law, Law, Markets, Politics, Recapitalization, Securities, Speculation, World Cup | 1 comment

By: David A. Smith Do you believe in international law? Tinkerbell’s voice was so low that at first he could not make out what she said. Then he made it out. Peter Pan, Chapter 13, Do you believe in fairies? Though ‘international law’ does not exist (it presupposes a lawgiver with dominion over all), international […]

Vote by Vote: Part 2, Down?

3 June, 2014 (18:52) | Bankruptcy, Cities, Cramdown, Detroit, Municipal bankruptcy, Real estate taxes, Reorganization, US News |

[Continued from yesterday’s Part 1.]  By: David A. Smith  As we saw yesterday, Detroit’s emergency manager has moved with exemplary dispatch and direction to treat the city like any other large Chapter 11 reorganization debtor, including a commendable job of securing pre-approval from many creditor groups before facing the big unknown: the two large pension […]

Vote by Vote: Part 1, Cram?

3 June, 2014 (18:41) | Bankruptcy, Cities, Cramdown, Detroit, Municipal bankruptcy, Real estate taxes, Reorganization, US News |

By: David A. Smith Vote by vote, Detroit is restructuring the city’s finances, though because this is good news, it’s presented as bad news, as reported in the New York Times (May 13, 2014), with background provided in an earlier story, also in the New York Times (May 5, 2014): Detroit dropped tens of thousands […]