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re: Russia slides into historic debt default as payment period expires

Posted on 6/27/22 at 10:15 am to
Posted by LuckyTiger
Someone's Alter
Member since Dec 2008
46630 posts
Posted on 6/27/22 at 10:15 am to
It is important to note that the only organizations labeling this development as a default are media outlets. The bond holders have not declared the debts in default. Obviously, the bond holders want to get paid. Russia paid the amounts in full in rubles due to artificial means of refusal of payment acceptance.

I expect some solution to be reached or international legal proceedings to commence. It’s a fascinating legal issue. In such proceedings I would expect critical factors such as intent to pay and possession of adequate amounts of payment to be factors.

For now, the notion of default is symbolic rather than legal.
Posted by GumboPot
Member since Mar 2009
124355 posts
Posted on 6/27/22 at 10:22 am to
quote:

It is important to note that the only organizations labeling this development as a default are media outlets. The bond holders have not declared the debts in default. Obviously, the bond holders want to get paid. Russia paid the amounts in full in rubles due to artificial means of refusal of payment acceptance.

I expect some solution to be reached or international legal proceedings to commence. It’s a fascinating legal issue. In such proceedings I would expect critical factors such as intent to pay and possession of adequate amounts of payment to be factors.

For now, the notion of default is symbolic rather than legal.




This analysis is too level headed for MSM print. It would never get editorial approval. Not hyperbolic enough for twitter/reddit clicks.
Posted by AUMIS01
Atlanta
Member since May 2020
1235 posts
Posted on 6/27/22 at 10:35 am to
quote:

I expect some solution to be reached or international legal proceedings to commence. It’s a fascinating legal issue. In such proceedings I would expect critical factors such as intent to pay and possession of adequate amounts of payment to be factors.


Flush the money through China, China pays the bill on their behalf. China returns the rubles via oil purchases.
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