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SINGAPORE — Chinese steel mills, suffering from weak demand at home, have either defaulted on supply contracts or have deferred taking shipment of as much as four million tons of iron ore this month after a rapid decline in prices, traders said.
When the city of Springfield, Mass., defaulted on a contract to supply power to LG&E, the utility was forced to pay high spot market rates for enough power to deliver to the Oglethorpe Power Company of Georgia.
The state-owned Korea Development Bank (KDB), its biggest creditor, refused to supply any more loans, so the company defaulted on short-term debts to suppliers, putting it into receivership.Such a prominent collapse shocked the country.
Later this year, for the first time, the Government will supply the main credit reference agencies, Experian and Equifax, with the names of people who have defaulted on their student loans.
The Soviet Union defaulted on them.
One in six have defaulted on fines.
He defaulted on that mortgage in January.
Mexico defaulted on its debt in 1914.
Or it can be defaulted on.
They defaulted on the mortgage last fall.
Greece finally defaulted on its debt.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com