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There would be no exchange of money; Continuum would take on the hospital's debt, said to be around $700 million, and try to restructure it with financial support from the state and creditors.
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He added that if Pentagon lawyers concluded that the test would clash with treaty provisions, the Pentagon would delay or restructure it to keep it compliant with the treaty.
What a private equity manager is doing is buying a company and reorganizing and restructuring it – transforming it, with borrowed capital.
What the White House proposed and Congress agreed to last December was for the federal government to make seasonal loans to help the city over periods of temporary cash shortage while it restructures its debt, with the goal of achieving a balanced budget in a 3-year period.
It had hired the investment bank Lazard and the law firm Kirkland & Ellis to help it try to restructure its debt as it dealt with a committee of bondholders over possible alternatives to bankruptcy.
"It's a myth that this amount of debt can ever be paid back in full, so we might as well get on with restructuring it," says one Athens banker.
"That's nothing to do with the restructuring, it's just the fact that he's turning 65 and had already signalled that it's time for him to move on to his next set of interests in life".
Top Right's restructure effectively leaves it with four operations.
Mystical drone/ambient/experimental-electronic sages Tim Hecker and Daniel Lopatin (Oneohtrix Point Never) team up to coax assorted digital magic out of synthesizers and other digital apparatuses, only to slice, sort, restructure, and reassemble it with computers, probably while conducting some sort of pagan ritual.
The company's metamorphosis can also be seen in the way it is restructuring how it works with developers who build products and tools on the Twitter platform using the company's application programming interface, or A.P.I.
The restructuring will leave it with three note-printing operations in the UK, Kenya and Sri Lanka.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com