Comment from a friend....

If the so called Belize creditors committee owns more than 25% percent of the bond then they can call the shots because the collective action clause (CAC) of the superbond requires the consent of 75% or more of the bondholders.

Belize's debt restructuring could trigger credit-default swaps that insure our bonds . We would have defaulted on a default...

Another comment:

The ultimate problem is that Guatemala is not a sure loser.