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"We are optimistic we can get a restructuring," he said.
In 2009 it was very difficult to get a restructuring done; the client really didn't know where value was, so you couldn't get a meeting of the minds for how the restructuring should go.
If Greece get a restructuring or rescheduling of the debt in 2016, it will take some of the pressure off the government, because the third memorandum takes you through to early 2020. .
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Osi Umenyiora, who finally got a restructured contract that turned out to be the ultimate compromise (he gets $6 million this season and the freedom to hit free agency next season), is still staggeringly quick (in part because he anticipates snap counts as shrewdly as any defensive end in football).
"If I can help them out for a few years, do a restructuring, get a staff in place which is going to be there for a long time and hopefully help them get a better collective bargaining agreement, it's something I'd think I want to do, because I like them".
"We have favorable market conditions for the type of investor who is seeking to make a short-term profit by trying to get a company to restructure or sell itself," says de Wied.
However, any recovery the bondholders can get through a restructuring deal is probably going to be the vast bulk of the total recovery.
"If we get to a restructuring of the restructuring, I think there'll be more interest in how you both put together a policy and the politics that will allow you to deal with the real problems".
If a company defaults, they will have their debt fully repaid, whereas they may only get a fraction through a restructure.
"These guarantees can be an impediment to getting a sensible restructuring of commercial real estate loans," said Andrew A. Lance, a partner in the law firm Gibson, Dunn & Crutcher who represents both borrowers and lenders.
"Partnerships must be based on the respect of equals," he says.Deep down, the Europeans know that until they get a move on with restructuring their industry, they cannot claim to be the Americans' equals.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com