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A FRISSON of fear touched the London property market briefly on news that Dubai World was delaying repayment of some of its $60 billion £366 billion) in debt.
Borrowers can lose, or win less than expected, or cases can simply drag on, delaying repayment until the profit is drained from the investment.
After more than a year of claiming that Greece could be bailed out without significant costs either for lenders or the rest of Europe, European leaders pledged on Thursday to pump in large amounts of money to try to revive the Greek economy while delaying repayment and reducing interest rates on existing loans.
The Countrywide Financial Corporation, the Bank of America Corporation and Wall Street firms like Lehman Brothers told regulators this year that the guidance was too strict and would hurt consumers who might not be able to afford a home without the mortgages, which cut payments by delaying repayment of principal.
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In Iceland he was named man of the year after negotiating a deal delaying repayments to Britain over the collapse of Icesave.
The loans by which it did so have been "restructured" to allow delayed repayment.
The Tribune's parent company declared bankruptcy yesterday to help delay repayment on massive debts.
The new loan would be for $14 billion (in addition Brazil will delay repayment of $5.5 billion to the Fund).
The Broncos say they believe Carter is manipulating the bankruptcy laws to delay repayment or to avoid repaying them altogether.
The announcement in November that Dubai would delay repayment of some of its debts raised the possibility of yet another round of woe.
Daewoo, one of South Korea's biggest conglomerates, narrowly escaped bankruptcy in 1999 when domestic creditors agreed to delay repayment of its short-term debt and extend new loans.
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