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If all the costs had been properly included, the prosecutor said, the entire deal would have been illegal under a national law that allows restructuring of debt only if it produces a savings.
If all the hidden costs had been properly included, the prosecutor argued in the court filing, the deal would have been illegal under an Italian law that allows restructuring of debt by municipalities only if the restructuring produces a saving.
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This is a president who encouraged members of Congress to vote for the Troubled Asset Relief Program (Tarp) in 2008 with a promise that he would put bankruptcy cramdown for mortgage debt (allowing restructuring of housing loans for people with distressed mortgages) at the top of his agenda once he took office.
The bipartisan vote was 297 to 127 for the legislation that would create a financial control board and allow restructuring of some of Puerto Rico's $70-billion 70-billion debt
Current models suggest that BAR domain proteins form dimers (and oligomers) and by so doing induce curvature on lipids allowing restructuring of membranes [11] [13].
"If you end up with precedent that allows the restructuring of retirement benefits in bankruptcy court, that will make it an attractive option for cities," Ms. Denniston said.
And it will be a trial case: "If you end up with precedent that allows the restructuring of retirement benefits in bankruptcy court, that will make it an attractive option for cities," Karol Denniston, a lawyer with experience of municipal bankruptcies, told the Times.
She persuaded them to reopen last year's Lisbon treaty to create a bail-out system that would allow the restructuring of a country's debts.
In a letter to Senate Democrats, Sanders said the House bill to create a federal control board and allow some restructuring of the debt would make "a terrible situation even worse".
The largest gains for African women have been in countries experiencing post-conflict transition -- such as South Africa, Rwanda, Liberia and Sierra Leone -- which has allowed for restructuring of the government and constitution following an extended disruption in traditional gender norms.
PROMESA also imposes a federally-appointed "oversight board," to which officials must submit a "fiscal plan," and allows for the restructuring of public debt (through a bankruptcy-type process in federal court).
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