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This is in line with an emphasis on the agency cost of debt, as tangible assets can easily be used as collateral for debt.
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Gazprom owns 46percentt of NTV and holds another 19percentt as collateral for debts Mr. Gusinsky's company, Media-MOST, must pay off by July.
Forbes' net worth calculations discount a portion of shares pledged as collateral for debts.
Beginning in the 1990s, universities, public and private, began working ever more closely with Wall Street, which meant using tuition payments not just as direct revenue but also as collateral for debt-financing.
That agreement gave Gazprom 46percentt of the company's stock, and put up 19percentt more as collateral for the debt.
Some say Arsène has his Eyes Wide Shut to the problems of his youth strategy while others argue the club has too much cash tied up as Collateral for stadium debt.
But Mr. Obama declined to answer directly, and his administration has ruled out proposals to either invoke authority under the 14th Amendment or mint a platinum coin as a sort of collateral for more debt.
Both sides say they are optimistic they will reach an agreement that will keep the museum in its home on West 53rd Street in Manhattan, which serves as collateral for the debt.
They often have significant and liquid endowments that serve as collateral for the debt.
That's because direct lenders use physical property as collateral for CRE debt, forming a safety net of assets that minimizes the effects of a default.
In the weeks after the Deepwater Horizon exploded some political observers, like former Clinton administration Secretary of Labor Robert Reich, suggested that President Obama should move to nationalize BP's U.S. operations as collateral for the debt it owes America.
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