Sentence examples for past due interest from inspiring English sources

On its face, that would make restructuring sovereign debt sold in New York impossible, since no one could be paid without 100% participation in a swap.The lower-court judge had ruled that pari passu required Argentina to satisfy Elliott's entire demand of full face value plus 11 years of past due interest.

He issued an order that would prevent its government from servicing the debt of the investors who had participated in its restructuring unless it also made a lump-sum payment to the hold-outs for the entire value of their claim: the full face value of their bonds plus all past due interest.

There was also no clarity on the $778 million of past due interest on PDVSA debt within the 30 day grace period that began to expire on Nov. 9.

The proposal excludes past payments on warrants linked to economic growth and pays past due interest with 8.75percentt bonds due 2017.

There was then existing a past due interest-bearing debt in the shape of unpaid coupons, amounting to more than the face value of the bonds for which the company was liable; and if the payment had been made at or about that time, the money could have been used at once in discharging an equal amount of debt then due and unpaid, without loss to the company or the state.

The government has pledged to take into account up to $22.5 billion in past-due interest when calculating repayments, giving in to a central demand of thousands of creditors who have not received anything on their investment since 2002.

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.

But if he requires Argentina to pay all of the $1.3 billion demanded by the hold-outs (comprising past-due interest and the face value of the bonds), that would be politically unthinkable.

The remaining creditors have tried their luck in the courts.Over the years these "hold-outs" have won a series of judgments in New York ordering Argentina to pay their full claims, including 11 years of past-due interest.

After rejecting the country's bond-swap proposal, in 2005, it secured repeated orders from Griesa requiring Argentina to pay the full face value of the plaintiffs' debt plus all past-due interest, a sum that is now approaching one and a half billion dollars.

But the price of Treasury bonds would remain in the general vicinity of par, and it might even go up if Treasury announced that past-due interest would be paid on all debt at a statutory rate of 8% per annum.