When he was the manager of the Magpies he helped to "sell" the bondholder scheme to supporters.
All that has changed here is that the victim is an insurance company rather than the bondholder.
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Billions in bondholder money is at stake in her three most recent CLOs Zohar I, II, III.
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Additionally, Lehmann has served on numerous creditor and bondholder committees and is a recognized authority on bond defaults.
Euro finance ministers indicated a significant bondholder haircut would have to be part of a second Greek bailout.
The European Central Bank (ECB) is now thought to be Greece's biggest bondholder.
When the leaders assembled at the sprawling summit table, Ms. Merkel admitted that the specter of bondholder losses was causing market unrest.
WSJ: European Disunion: Dithering at the Top Turned EU Crisis to Global Threat
Bondholder losses would be substantial, to placate the Germans, Dutch and Finns.
WSJ: European Disunion: Dithering at the Top Turned EU Crisis to Global Threat
Officials struggled to explain the new Greek bailout and the bondholder losses.
WSJ: European Disunion: Dithering at the Top Turned EU Crisis to Global Threat
Many bonds are issued under New York law, which means that any individual bondholder has the right to sue and demand full payment.
These smaller risks can then be priced and sold, using derivatives, so that the bondholder keeps only those risks he wishes to bear.
Determined not to let the summit pass without an agreement, Ms. Merkel invited the French president, who objected to the German push for bondholder losses, to Berlin.
WSJ: European Disunion: Dithering at the Top Turned EU Crisis to Global Threat
Efforts to restructure the debts that caused the biggest sovereign default in history have not even started and the first bondholder has already sued in a New York court.
Sedona was so desperate (or naive) that it signed off on a dangerous conversion feature: The more the stock went down, the more shares the bondholder was entitled to upon converting.
If GDP and wealth grew at 3.5% per year then it seems only reasonable that the bondholder should have gotten a little bit less and the stockholder something more than that.
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The euro zone has faced many "moments of truth" but the Greek bondholder dispute is a a genuine watershed: The euro's fate lies in the balance and it could go either way.
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One bondholder blames the shock not on operating foul-ups but on communication problems: Solo could have shaped expectations by explaining cyclical bumps in the business (paper plates sell better in the summer) to investors.
Keep in mind that a debt reserve fund is usually created at the time of bond issuance, hence, interest payments out of reserves is nothing more than giving the bondholder back his own money.
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One bondholder blames the shock not on operating foul-ups but on communications problems: Solo could have shaped expectations by explaining cyclical bumps in the business (paper plates sell better in the summer) to investors.
To appease the holdouts, it left key points broad and noncommittal, offering the possibility of collateral to Finland and describing the complex bondholder deal in a few strokes, vague language that would return to haunt the bloc.
WSJ: European Disunion: Dithering at the Top Turned EU Crisis to Global Threat
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