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Professor Altman has devised a widely used method for predicting when companies are likely to default, or become unable to pay interest on their bonds.
In a letter to top congressional leaders, Lew warned that a repeat of the debt brinksmanship of 2011 could inflict great harm on the economy and that "if the government should ultimately become unable to pay all of its bills, the results could be catastrophic".
The trust "was likely to become unable to pay its debts", it said.
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But during the summer of 2008, as increasing numbers of borrowers became unable to pay their mortgages, default rates rose.
If the Illinois plan became unable to pay its obligations to families in or near college, the state legislature would not necessarily ride to the rescue to pay every child's tuition.
Directors were required by law in some countries to file for insolvency mere weeks after their companies became unable to pay their debts.Some countries (Germany in 1999; France and Italy in 2005) have since introduced Chapter 11-style reforms.
As these borrowers became unable to pay their mortgages, asset-backed securities that held their loans began to lose value.
However, due to inaccurate ridership prediction, LVMC filed for bankruptcy protection in January 2010 when it became unable to pay debt service on the bonds and its other expenses [32].
And a federal program called FHASecure already provides a limited version of this service, allowing homeowners who became unable to pay their mortgages after adjustable rates became to high, to refinance into an FHA-secured loan.
As most inmates quickly became unable to pay tuition fees, many of the college-level programs available to them disintegrated.
With the birth of Johnson's brother, Nathaniel, a few months later, Michael became unable to pay the debts he had accrued over the years, and his family was no longer able to maintain its standard of living.
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