Debt-Crisis

iHeartMedia Files for Bankruptcy with $20 Billion Debt - Conservative Radio Empire Collapses Under Leveraged Buyout Burden

2018-03-15 00:00:00 +0000 UTC | Importance: 8/10

On March 15, 2018, iHeartMedia (formerly Clear Channel Communications) filed for Chapter 11 bankruptcy protection, seeking to restructure more than $20 billion in outstanding debt accumulated from the disastrous 2008 leveraged buyout by Bain Capital and Thomas H. Lee Partners. The bankruptcy filing …

iHeartMedia Clear Channel Communications Bain Capital Thomas H. Lee Partners Rush Limbaugh +1 more media-consolidation bankruptcy leveraged-buyout private-equity conservative-media +3 more

Puerto Rico Defaults on $422 Million Bond Payment, Triggering Largest Municipal Debt Crisis in U.S. History

2016-05-01 00:00:00 +0000 UTC | Importance: 9/10

Governor Alejandro García Padilla ordered Puerto Rico’s first major default, blocking a $422 million payment on Government Development Bank bonds. This historic default was part of Puerto Rico’s unprecedented $72 billion debt crisis, representing debt larger than the island’s GDP. …

Alejandro García Padilla Puerto Rico Government Development Bank Puerto Rico Government Hedge Fund Creditors puerto-rico debt-crisis municipal-bankruptcy financial-engineering austerity +3 more

European Commission, ECB, and IMF Form 'Troika' and Impose First Greek Bailout with Harsh Austerity

2010-05-02 00:00:00 +0000 UTC | Importance: 9/10

The European Commission, European Central Bank (ECB), and International Monetary Fund form a tripartite committee known as the ‘Troika’ and agree on a three-year €110 billion financial aid package for Greece in exchange for severe austerity measures outlined in a Memorandum of …

European Commission European Central Bank International Monetary Fund George Papandreou Angela Merkel shock-doctrine imf austerity greece troika +3 more