Comments on: ‘There is no lien, there is no property interest, these creditors are like all others’ http://blogs.reuters.com/muniland/2014/02/20/there-is-no-lien-there-is-no-property-interest-these-creditors-are-like-all-others/ Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: nixonfan http://blogs.reuters.com/muniland/2014/02/20/there-is-no-lien-there-is-no-property-interest-these-creditors-are-like-all-others/comment-page-1/#comment-2406 Fri, 21 Feb 2014 20:20:24 +0000 http://blogs.reuters.com/muniland/?p=13519#comment-2406 It’s humorous watching Wall Street try to come up with a “senior” Puerto Rican bond. First of all, the island has mortgaged everything but its sand. Second, when the legislature passes the debt restructuring law, it will make no fine distinctions between classes of bondholders. Everyone will get the same perpetual zero coupon bond.

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By: Cate_Long http://blogs.reuters.com/muniland/2014/02/20/there-is-no-lien-there-is-no-property-interest-these-creditors-are-like-all-others/comment-page-1/#comment-2405 Fri, 21 Feb 2014 14:32:34 +0000 http://blogs.reuters.com/muniland/?p=13519#comment-2405 Do listen to the audio… it really gives a flavor of how ardently Judge Rhodes is pushing this case.

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By: Cate_Long http://blogs.reuters.com/muniland/2014/02/20/there-is-no-lien-there-is-no-property-interest-these-creditors-are-like-all-others/comment-page-1/#comment-2404 Fri, 21 Feb 2014 14:31:37 +0000 http://blogs.reuters.com/muniland/?p=13519#comment-2404 Here is the audio file for the hearing this post refers to:

http://www.mieb.uscourts.gov/sites/defau lt/files/detroit/docket2699.pdf

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By: nixonfan http://blogs.reuters.com/muniland/2014/02/20/there-is-no-lien-there-is-no-property-interest-these-creditors-are-like-all-others/comment-page-1/#comment-2399 Thu, 20 Feb 2014 23:21:02 +0000 http://blogs.reuters.com/muniland/?p=13519#comment-2399 SCOTUS will find that federal bankruptcy law trumps the GO pledge. GO = unsecured.

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