Sounds like a bit of a hazard: the difference between insolvent or not for many entities is just accounting conventions. Lock in some non-MTM losses-- wham!-- insolvent.
Why should bankruptcy protection be denied to any entity that would be unquestionably qualified if they simply took an additional legitimate action that would make their creditors worse off?
Why should bankruptcy protection be denied to any entity that would be unquestionably qualified if they simply took an additional legitimate action that would make their creditors worse off?