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Also, China has a bond repurchase (repo) market, but it works by pledging rather than selling collateral (which is the norm).
Lewycka confidently bandies around opaque references to short selling, collateral debt obligations and the Fibonacci series, and if she is even half right about the goings-on inside financial organisations it appears that the epicentre of malpractice is located somewhere inside the disabled toilets.
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We don't sell collateral debt obligations, but we do sell cookies to help keep our schools going".
Some lenders may have liquidated collateral securing about $5 billion of the fund's debt, it said Monday, but added that it did not receive any deficiency notices from those lenders who sold collateral to cover the borrowings.
Congress has accepted the buy-and-sell charade of repos and affirmed that repo lenders can sell collateral immediately if repo borrowers go bankrupt.
When the bubble burst, the collateral went down in value and banks either demanded more or started selling the collateral.
(i) To CCC to satisfy the debtor's indebtedness including all costs associated with selling the collateral.
(i) To CCC to satisfy the debtor's indebtedness including all costs associated with selling the collateral and the appraisal.
In recent weeks, the company was unable to stop many of those banks from repossessing or selling the collateral that backed those debts, making a bankruptcy filing virtually inevitable.
However, the illiquidity of markets in mid-March was so severe that creditors lost confidence that they could recoup their loans by selling the collateral.
The safest way to do this is to specify how long after default (default means failure to pay as promised) you will wait before selling the collateral item to satisfy the debt.
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