April 29, 2017

EU Update (And FI Reality)

If you've been tuning out the Euro situation, despite Gelpern's periodic updates, … [Read more...]

Tribal Bankruptcy

The Wall Street Journal reported last week about a challenge to a bankruptcy filing by the Santa … [Read more...]

Sovereign Debt

From the the second volumn of J.F. Molloy, Court Life Below Stairs (rev ed. 1885), regarding events … [Read more...]

Exit Consents Killed in England?

The English High Court just ruled in Assenagon Asset Management S.A. v. Irish Bank Resolution … [Read more...]

The Awesome Pari Passu Hearing

The Second Circuit argument in NML v. Argentina was awesome--I was at the edge of my seat the whole … [Read more...]

Sovereign Friday Bits: Pari Passu Preview; DRC Wins in Jersey

The panel for Monday's Second Circuit hearing in NML v. Argentina is Judges Raggi, Pooler and … [Read more...]

Pari Passu U on July 23 at 3 (unless they change it again)

The NML [Elliott] v. Argentina pari passu argument was rescheduled yet again, to July 23. While we … [Read more...]

Pari Passu Argument Moved to July 18

Alas, we must slog through another month to find out how it ends. The NML v. Argentina argument in … [Read more...]

GM, Chrysler, Argentina, Mortgages, and More

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L&L In D.C.

Tomorrow two Slips members -- Adam and I -- journey to the House of Representatives. Ok, for Adam … [Read more...]

Edge of Reason: Paripassupalooza on Capitol Hill

Like the rest of us, the U.S. Congress cannot wait until the Second Circuit argument on pari passu, … [Read more...]

Sovereign Restructuring after NML v. Argentina: CACs Don’t Make Pari Passu Go Away

A remarkable number of people are buying the creditors' argument that widespread introduction … [Read more...]

Pari Passu: So Passe! (Extractive Edition)

Felix Salmon stays with the Argentina pari passu saga, about which I wrote here. The holdout … [Read more...]

Revival on the Head of a Pin: Do U Pari Passu?

Argentina and its most intransigent creditors are duking it out again (or still) in the Second … [Read more...]

Pari Passu Party (on behalf of Anna Gelpern)

This is Adam Levitin posting for Anna Gelpern.  Only the awful illiterative post title is mine. … [Read more...]

At Last, A Credible Threat of Default: Too Little-Too Late Eupdate?

At long last, Greece is starting to resemble a normal restructuring--you know, the kind where the … [Read more...]

Thank You to Philomila Tsoukala

Credit Slips has been fortunate to have my Georgetown colleague Philomila Tsoukala as a guest … [Read more...]

The Disorderly Default in Your Closet Eupdate

Another day, another Greek deal to end them all (more on that soon). Amid the political din, legal … [Read more...]

It’s Not Just the Economy Stupid!

“Greeks are protesting new austerity measures” is a common headline these days. It definitely cap … [Read more...]

Greek Family and Welfare Provision

I have argued previously (here) that the EU/IMF/ECB insistence on “flexibilizing” labor law in Gre … [Read more...]

Austerity Hits Greece

The latest EU bailout installment for Greece requires tough austerity measures. Among the most … [Read more...]

Video: Greece passes austerity measures as Athens burns

Greece fires. Greece finally managed to pass the necessary austerity measures demanded by the EU as … [Read more...]

Vee Haf Vays Uf Making You Pay!

Anna Gelpern's Gunboat Diplomacy post pretty much sums out the leaked German term sheet on … [Read more...]

Greek Gunboat Diplomacy Eupdate and More ECB/EFSF

Someone who wanted to be very mean to the Germans just leaked this document, where they manage to … [Read more...]

The Crisis of Fake Constraints: Greek Denouement Eupdate

Unless Greece and its creditors reach a deal in the next few days, Greece has no money to pay €15 B … [Read more...]

Bankruptcy, Backwards

Credit Slips Own Anna Gelpern has a great new article in the Yale Law Journal that very much … [Read more...]

Greek VoluntaryInvolutary DealNoDealDeal: Convolution Eupdate

Will Greece reach a voluntary deal with its creditors to write down its debt by 50% in the coming … [Read more...]

Corzine: No, I really didn’t know about customer-fund transfers

"What hotel are you at here in the city?" Here’s a question, and I intend this one sincerely: … [Read more...]

This-Is-It EU Summit Eupdate

A few quick thoughts as the Make-or-Break, Life-or-Death, Now-or-Never EU Summit gets … [Read more...]

Is Bank of America Gambling on Resurrection (or Is BoA Holding the US Hostage)?

What would you do if you were running an insolvent company? The smart thing is to bet big:  go with … [Read more...]

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