Some go so far as to say that if a bond is insured and bondholders receive back the par value, no default has taken place, just an unscheduled call.

FORBES: Even If A Bond Doesn't Default, You Can Still Lose Your Money

At present, we can have no guarantee that the sales of these bonds will occur at par value.

FORBES: Ireland's Promissory Note Deal

There is no doubt that the Dodgers will see their franchise value drop between 2011 and 2012, and may be on par with the 6% reduction that befell the NY Mets between 2010 and 2011.

FORBES: Selig Correct To Take Control Of Dodgers From McCourt