Cooper and Nemerever's strategy is based on the premise that honoring a contract is paramount for any country in the global economy, and restructuring a loan can be seen in that spirit.
"The actions of the Eurogroup as regards introducing a levy on bank deposits was taken without discussion with Russia, so we will additionally consider our involvement in restructuring a loan issued earlier, " he was quoted as saying by Russia's Interfax news agency.
The Washington Post is reporting that Secretary Chu is taking responsibility for the restructuring of the Solyndra loan.
"That is why we will reconsider our participation in terms of the restructuring of the existing loan, " he said.
Under the bipartisan deal, automakers would develop a restructuring plan and submit it with their loan applications to the government agency that will administer the funds.
"There are a lot of new players, both in politics and in business, " says Andreas Bunanta, former loan work-out chief at the Indonesian Bank Restructuring Agency (IBRA).
As for finance companies, most of the debts will have been cleared away once the Financial Sector Restructuring Authority (FRA) completes its final loan auction in August.
In a shared appreciation restructuring, the lender would take a haircut on the outstanding loan and replace it with a combination of a new loan and a claim on the future appreciation of the collateral.
It will be important, therefore, to achieve full and credible recognition of loan losses, to ensure that capital injections are accompanied by strong commitments to restructuring, and to promote the resolution of problem loans through liquidations or workouts.
But Mr. Osborne may wonder why Mr. King is saying this now, as RBS nears the end of a five-year restructuring that has seen it cut its balance sheet almost in half and reduce its loan to deposit ratio to a healthy 100%.
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