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Law Professors Ask Congress to Delay Changes in Debt Law
The New York Times: Eighteen law professors sent a letter to leaders on Capitol Hill on Tuesday urging them to postpone proposed changes to a Depression-era law that they say could have “broad negative unintended consequences in the securities markets.”
The changes, added to omnibus spending legislation, would make it harder for some bondholders to challenge out-of-court debt restructuring deals such as the one for the casino operator Caesars Entertainment.
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