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Yukos's woesYukos, Russia's biggest oil exporter, faced the prospect of bailiffs seizing its assets after it failed to pay $3.4 billion in back taxes.
It is sometimes called the Dubai of Latin America, but while Dubai saw its ambitions come crashing down in 2009 after it failed to pay its debts, Panama came out of the global financial crash relatively unscathed.
That means if it got cut off from financial markets because it failed to pay its debtors, it could still keep its public services running.
He was one of the triumvirate of artistic directors of the Savoy Opera, the Raymond Gubbay outfit that crashed and burned in May last year after it failed to pay its way in the West End.
Documents filed with the Office of the Secretary of State in Texas show that the Institute for Humane Studies of Texas forfeited its charter in January 1989, when it failed to pay the state franchise tax, and then filed for reinstatement in April 1989.
The firm has been told that its assets would be seized in case it failed to pay the tax.
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Again it fails to pay off as they turn the ball over agin.
The bill charges, also, that the Commissioner of Internal Revenue has threatened to enforce taxes, under the Carriers Taxing Act, and will subject it to heavy fines and penalties if it fails to pay the same.
A default is typically a decision not to pay government bondholders back, in part or in full, but the rating agencies have said they might consider the United States in default if it fails to pay other creditors like government vendors.
It's the sort of high-intensity tactic that, if it fails to pay off early on, then the team usually runs out of gas and struggles mightily later on.
Either way, when it fails to pay up at the appointed time, the fund sues for the full value of the bonds plus past-due interest, which can amount to huge windfalls on the initial investments.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com