Method and system for restructuring a debt instrument without retiring underlying debt
First Claim
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1. A method of restructuring a debt instrument without retiring the underlying debt comprising the steps of:
- (a) amending a debt instrument to call for purchase of the bonds in lieu of redemption; and
(b) purchasing the bonds for resale to a financial institution pursuant to a purchase agreement.
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Abstract
The present invention relates to a method and system for restructuring a debt instrument without retiring the underlying debt in order to obtain favorable accounting treatment. In particular, the method allows long-term, fixed-rate tax exempt bonds to be refinanced without actually retiring the existing bonds.
20 Citations
1 Claim
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1. A method of restructuring a debt instrument without retiring the underlying debt comprising the steps of:
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(a) amending a debt instrument to call for purchase of the bonds in lieu of redemption; and
(b) purchasing the bonds for resale to a financial institution pursuant to a purchase agreement.
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Specification
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Current AssigneeScott D. Smith, Timothy J. Sheehan
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Original AssigneeScott D. Smith, Timothy J. Sheehan
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InventorsSmith, Scott D., Sheehan, Timothy J.
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Application NumberUS10/712,481Publication NumberTime in Patent OfficeDaysField of SearchUS Class Current705/35CPC Class CodesG06Q 40/00 Finance; Insurance; Tax str...G06Q 40/02 Banking, e.g. interest calc...
