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For example, debt bondage -- when a person's labor is demanded in repayment for a loan -- only rises to the level of coercion when the value of the services provided by the laborer "is not applied toward the liquidation of the debt or the length and nature of those services are not... limited and defined".
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The prime minister, Alexis Tsipras, and his Syiza-dominated administration – elected on a platform to abolish the excoriating austerity that has been demanded in exchange for a €240bn bailout – faces debt repayment deadlines on around €5bn this month alone.
(The key belief was that certain gods, having sacrificed themselves to make human existence possible, demanded incessant repayment in kind).
The UN scheme would also prevent individual courts taking on the role of arbitrators, when they can be accused of bias in favour of hedge funds that often buy sovereign debt cheaply before demanding repayment in full.
Instead of the $60,000 the woman's husband demanded as repayment, the Reznikovs let the mafia store something in the restaurant freezer.
Many of the Noteholders, including various hedge funds and opportunistic investors, have purchased Beazers bonds at depressed prices in the market and are now improperly seeking to secure a windfall by demanding accelerated repayment in full, Beazer said in its complaint.
But the holdout investors refused the restructuring and are demanding repayment in full.
Coupled with those circumstances is other evidence: internal Merrill documents that refer to an Enron guarantee to take the firm out of the deal in six months; draft letters when the deal was being crafted that refer to a 15percentt annualized return; and another draft letter written in June in which Merrill demanded repayment of its investment plus the 15percentt.
But some investors, known as holdouts, refused to join the exchange deals and demanded full repayment.
Pierre agreed to pay them $3.4 million for their troubles, increased by 1.75% the coupons on the bonds and gave holders the right to demand full repayment in March 2005.
In the complaint, Beazer called its creditors vulture investors saying: Many of the Noteholders, including various hedge funds and opportunistic investors, have purchased Beazers bonds at depressed prices in the market and are now improperly seeking to secure a windfall by demanding accelerated repayment in full..
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com