The restructuring of Greek government debt handed it a big loss.
Although Hilco has not bought HMV outright, buying the debt hands them effective control.
In 2007, the US banking system began to wheeze under the strain of too much mortgage debt handed to too many indigent borrowers, and confidence drained from the financial system at an ever-increasing pace.
He has restructured $8 billion in on- and off-balance-sheet debt, handed pink slips to 3,700 workers, slashed the fleet from 417 to 279 large jets, increased the airline's load factor the fraction of available seats paid for 2.1 percentage points to 71% and dropped the cost per available seat mile to 11 cents from 12.2 cents the year before.
This debt deal hands Democrats a weapon to prod Republicans to accept tax increases instead and, if they don't, casting themselves as choosing protection of the rich over the military.
I recently met with Luke Bowen, founder of Evil Genius Beer Company, who has managed to finance his growing business without taking on debt or handing out equity.
The long-awaited filing, made in federal bankruptcy court in Manhattan, will wipe out the bulk of Blockbuster's nearly $1 billion debt, while handing over a huge equity stake to senior bondholders led by the investor Carl C. Icahn.
By the time legislation is crafted, probably in early summer, the good basic framework could transmogrify into something completely ugly — a bill that explodes the national debt while handing massive benefits to the rich.
Easing debt loads, handing out grants directly to villages, clinics and schools, and providing more export opportunities for the crops grown and the shirts stitched by the poorest workers could help.
