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The debt must now be repaid.
Around £100m will now be repaid to the secured creditors or bondholders that had lent £430m to the firm.
Last November, Selig agreed to have baseball lend the Mets $25 million, a loan that would now be repaid with part of Einhorn's cash infusion.
It just did not anticipate quite how badly creditors would react.Nakheel's creditors can now be repaid, but Dubai's credibility cannot be repaired so easily.
The Dubai World debts will now be repaid in five to eight years, at lower interest rates, but those repayments still have to be met.
The so-called holdout creditors who can now be repaid are those who refused to agree to a restructuring of Argentina's debt after it defaulted on nearly $100bn£71bnbn) in 2001.
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However, 85% of UK claims have now been repaid.
Some of the bonds now being repaid were used to fund the Napoleonic wars.
A leader who demanded loyalty but rarely gave it is now being repaid in kind.
An £8bn contingent capital facility which required the government to pump more money into the bank if its capital ratio fell is now being repaid a year early.
Although the region has long had an ethnic Albanian population, the Macedonian Slavs feel they have granted Albanians plenty of rights and have now been repaid with a guerrilla insurrection.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com