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Download e-book for kindle: A Fearful Freedom: Women's Flight from Equality by Wendy Kaminer

By Wendy Kaminer

ISBN-10: 0201092344

ISBN-13: 9780201092349

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Extra info for A Fearful Freedom: Women's Flight from Equality

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Where this occurred the courts were supportive. Thus in 1876 a US Federal Court ordered the foreclosure and sale of a line. 70 At the foreclosure sales, it was possible for bondholders to purchase the property themselves. In some cases this was done and the bondholders ran the railway through an American bank; in other cases the sale was used to purchase the line and then lease it to another operator. 71 It was surprising however that where a reasonably satisfactory outcome like a restructuring was impossible action against the banks themselves does not seem to have occurred.

These were printed to a high standard, so that despite widespread default by borrowers they become a collector’s item in the twentieth century. On the face of the bond were the undertakings, along with the coupons to be detached and presented for payment of interest. The undertakings were anticipated in the prospectus. Primarily these related to the payment of interest, the redemption of the bonds and the establishment of arrangements in the nature of security. In the main, the payment and redemption undertakings were unexceptional.

37 On the other side of the coin, Brazil was bound to employ Rothschild exclusively for the payment of interest, dividends and the operation of sinking funds! At the other end of the spectrum a bank might agree to purchase the whole of the securities and at its discretion sell them on to investors. That only occurred where there was no risk of the issue collapsing. There are instances of this with loans, for example, to colonial governments, where the Rothschilds under the agreement contracted to ‘procure purchasers’ 33 RA 000/401 A.

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