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cramdown Line breaks: cram|down
Pronunciation: /ˈkramdaʊn/

Definition of cramdown in English:

noun

US
1A restructuring of debt that creditors are required to accept as part of a bankruptcy arrangement: a judge would be empowered by federal law to execute a cramdown on them
More example sentences
  • If they've been unwilling to accept a cramdown up to this point, I see no reason for a bank to take the deal in the first place.
  • And no one but a blithering idiot would write new mortgages when there is every likelihood that a future judge would be empowered by Federal law to execute a cramdown on them.
  • The bankruptcy provision - often referred to as "cramdown" - is a key component of the Obama administration's housing initiative, but it worries moderate Democrats in both chambers.
1.1 [mass noun] The legal authority for courts to impose a restructuring of debt in a bankruptcy arrangement despite objections from creditors: cramdown is not available for a residential first mortgage
More example sentences
  • Apparently, the "compromise" is to only apply cramdown to subprime mortgages.
  • "I strongly support cramdown, but we'll see what happens on the Senate floor," said Pelosi.
  • Trade groups representing all quarters of the financial services industry pressed lawmakers to reject the measure and their warnings about the harmful impact of "cramdown" seem to have swayed many Democrats.

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