Sentence examples for payment standstill from inspiring English sources
Investors around the world have taken fright at Dubai's announcement that it is asking for a debt payment standstill at its holding company, Dubai World.
Dubai World requested a payment standstill on 25 November for $3.52bn worth of Islamic bonds maturing this month as it tried to restructure $26bn worth of debt.
The money left over after the Nakheel sukuk is repaid will go to Dubai World's suppliers and contractors, who endured a standstill on payments long before the company asked the same of its creditors.
Bondholders are still furious about Dubai World announcing a standstill to debt payments just before its officials went on holiday, leaving investors in limbo for a few days.
Conceivably, the SDRM could sanction a standstill on debt payments, as domestic bankruptcy law does, and allow countries that have defaulted to issue new senior debt, as firms in Chapter 11 can.
Many bankers contend that Dubai World's request to lenders for a six-month "standstill" on some debt payments was a choice, not a necessity.
NIHE later relented and instead of cancelling the contract a "standstill agreement" - effectively a pause in payments - was put in place, to allow Red Sky time to sort out the problems.
Tiscali has a so-called standstill agreement with its lenders, allowing it to stop loan payments until June 30 as a restructuring is worked out.
Sales of so-called "off plan," or unbuilt, properties, that only required a down payment and were flipped many times before a single brick was laid, have come to a virtual standstill, as buyers recognize that leverage works on the upside, but it works on the downside as well.
