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The consequence would be no holdouts after a vote, and no need for coercive exit consents.
Thus Douglas's no-vote rule facilitated one serious distortion —- the holdout who can kill a good deal —- and then, in reaction, deal makers invented a countervailing distortion: the coercive exit consent exchange offer to twist or break the arms of dissenting bondholders.
Similar(58)
In fact, it is a law of nature that we seek the protection of the Leviathan's coercive powers in order to exit the perilous conditions of the state of nature.
Unfortunately, the eurozone crisis is likely to remain with us for years to come, sustaining the likelihood of coercive debt restructurings and eurozone exits.
Seclusion, putting a patient involuntarily alone in a locked unfurnished room from which she/he cannot freely exit, is a prevailing coercive measure in modern psychiatric practice.
In the case of exit requirements in Taiwan the possible coercive strength of the policy is weakened at the essential point of using certifications of English ability for a real-world purpose, i.e., getting a job.
"Defendant agencies and DOJ knew early on that their coordinated, coercive campaign of backroom pressure tactics was succeeding in prompting banks 'to exit or severely curtail' business with all payday lenders," the lawsuit, filed in the U.S. District Court for the District of Columbia, alleges.
Sound coercive?
Clearly coercive".
And coercive.
Because law is coercive.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com