Already, the government is squirming to avoid making a decision on whether to waive debts owed to the two banks by Hazama, which is particularly troublesome because construction companies are among the Liberal Democrats' biggest political supporters.
Another young man declared: "Ma Ellen waived debt, that's true.
"Calculating unpaid child support from private collect (sic) and waived debts would more than likely triple this figure," the CSMC submission said.
The banks protested their innocence.Fifteen Japanese banks waived debts of ¥450 billion ($4.2 billion) owed by Kumagai Gumi, a poorly performing Japanese construction company, in Japan's most generous act of debt-forgiveness.
The administration is negotiating whether to waive some debt payments altogether or allow "debt swaps," in which the money that would otherwise pay down the American debt is spent on training and infrastructure projects in Egypt intended to attract private investment and create jobs.
Meanwhile, Rangers' new owner Craig Whyte has revealed in a circular addressed to the club's shareholders that he could waive the debt he took on from Lloyds Banking Group depending on the outcome of an ongoing tax case.
The circular to shareholders stated: "If the club has not suffered an insolvency event within 90 days of the club's appeal in relation to the tax claim brought against the club by HM Revenue & Customs being finally determined, then The Rangers FC Group will either waive the debt that it has acquired or convert it into equity by way of an issue of new voting ordinary shares in the club".
"Wavetower will also acquire the indebtedness of Lloyds Banking Group, the secured creditor, and is under an obligation to waive this debt in the foreseeable future, thereby strengthening the club's balance sheet," it adds.
The figures would have been worse but for an intense campaign by banks to waive the debts of major -- and politically well-connected -- corporations like Daiei Inc., Kumagai Gumi and others.
Federal law already allows the Pentagon to waive certain debts for Purple Heart recipients.
