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In Switzerland voidable preferences consist in the grant, without prior obligation to that effect, of security interests for existing debts; satisfaction of debts by other than usual means of payment; or premature payment of debts, if the respective acts were committed within six months prior to the adjudication, while the debtor was insolvent.
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One way to do this would be to create an exchange program, in which new debt is issued only in exchange for existing debt, so the total of debt outstanding does not increase.
It currently helps consumers analyze unnecessary subscriptions on their credit card bills, and this could easily be extended to help consumers scale back on big "spending buckets" or find cheaper capital sources for existing debt.
Argentina announced a voluntary plan yesterday to swap as much as $67 billion of existing debt for new, longer-term securities that would delay millions of dollars in interest payments for the government.
Turkcell's debt level grew 35.4% during the quarter, to $853 million, mostly to extend repayment of existing debt for two more years.
It lightens the burden of existing debt both for the Treasury and for its kindred spirits, homeowners in over their heads.
The investment consortium will take on $2.6 billion of existing debt.
CDOs are created from existing debt: no new debt is involved.
Good news to get rid of existing debt.
The measure, dubbed the "Default Prevention Act," says that if the U.S. hits its debt ceiling of $18.1 trillion later this year, the Treasury Department shall issue new obligations "solely for the purpose of paying" principal and interest on existing debts, and for financing Social Security payments.
The measure, dubbed the "Default Prevention Act," says that if the U.S. hits its debt ceiling of $18.1 trillion later this year, the Treasury Department shall issue new obligations "solely for the purpose of paying" principal and interest on existing debts, and for financing Social Security payments.
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CEO of Professional Science Editing for Scientists @ prosciediting.com