{"id":79443,"date":"2021-05-11T04:39:00","date_gmt":"2021-05-11T08:39:00","guid":{"rendered":"https:\/\/www.bu.edu\/law\/?post_type=bu-article&#038;p=79443"},"modified":"2022-07-27T15:10:51","modified_gmt":"2022-07-27T19:10:51","slug":"jennifer-oneil-argentina-debt-restructure","status":"publish","type":"bu-article","link":"https:\/\/www.bu.edu\/law\/record\/articles\/2021\/jennifer-oneil-argentina-debt-restructure\/","title":{"rendered":"Patience Plus Persistence"},"content":{"rendered":"\t<div class=\"wp-block-editorial-leadin record-block-editorial-leadin is-style-text-over-image has-media has-box has-media-focus-right-middle has-text-position-x-center has-text-position-y-bottom has-dark-theme\">\n\t\t<div class=\"container-lockup\">\n\n\t\t\t<div class=\"wp-block-leadin-media\">\n\t\t\t\t\n\t\t\t\t<img width=\"1500\" height=\"1000\" src=\"\/law\/files\/2021\/05\/Jennifer-ONeil-002.jpg\" class=\"\" alt=\"Jennifer O&#039;Neil (&#039;07) stands before the Charging Bull statue on Wall Street in New York City\" loading=\"lazy\" srcset=\"https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002.jpg 1500w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-636x424.jpg 636w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-1024x683.jpg 1024w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-768x512.jpg 768w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-1200x800.jpg 1200w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-992x661.jpg 992w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-500x333.jpg 500w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-1000x667.jpg 1000w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-900x600.jpg 900w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-450x300.jpg 450w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-002-600x400.jpg 600w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<p class=\"wp-block-editorial-leadin-caption wp-prepress-component-caption\">Photos by Chris Sorensen<\/p>\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"container-words-outer\">\n\n\t\t\t\t\t\n\t\t\t\t\t<div class=\"container-words-inner\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-prepress-tag\">Feature<\/span>\n\t\t\t\t\t\t\t\t<h1 class=\"head\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tPatience Plus Persistence\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/h1>\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t<h4 class=\"deck\">When billions are on the line, Jennifer O\u2019Neil brokers deals.<\/h4>\n\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div>\n\n\t\t\t\n\t\t<\/div>\n\n\t\t\n\t<\/div>\n\n\t\n<div class=\"wp-prepress-component-metabar record-prepress-layout-metabar\">\n\t<div class=\"wp-prepress-component-metabar-wrapper\">\n\t\t\t\t\t<div class=\"wp-prepress-component-metabar-date\">May 11, 2021<\/div>\n\t\t\n\t\t\t\t<div class=\"wp-prepress-component-metabar-credits\">\n\t\t\t\t\t\t\t\t<ul data-credit-type=\"By\">\n\t\t\t\t\t\t<li><a href=\"https:\/\/www.bu.edu\/law\/record\/authors\/june-d-bell\/\">June D. Bell<\/a><\/li>\n\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"wp-prepress-component-metabar-share js-bu-prepress-share-tools\">\n\t\t\t<span class=\"icon-twitter\"><span>Twitter<\/span><\/span>\n\t\t\t<span class=\"icon-facebook\"><span>Facebook<\/span><\/span>\n\t\t\t<span class=\"icon-action\"><\/span>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\t\n\n\n<div class=\"wp-block-editorial-introparagraph record-block-editorial-introparagraph is-style-dropcap-outlined has-dropcap has-dropcap-color-dark\"><div class=\"wp-block-editorial-introparagraph-content\"><p>Like millions of Americans, Jennifer O\u2019Neil (\u201907) spent last spring and summer stuck at home. She started her days at 6 am with a run, soaking up Daniel Kahneman\u2019s <em>Thinking, Fast and Slow<\/em> on her seven-mile route. She prepped dinner every night, chopping onions for curries and beating eggs for frittatas. And in between and into the night, during marathon 16-hour workdays, she deftly brokered a massive global <a href=\"https:\/\/www.wsj.com\/articles\/argentina-nears-65-billion-restructuring-deal-with-bondholders-11596502192\">agreement to restructure Argentina\u2019s $65 billion debt<\/a>.<\/p><\/div><\/div>\n\n\n\n<div class=\"wp-block-image alignfarright\"><figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" src=\"\/law\/files\/2021\/05\/argentina.jpg\" alt=\"Graphic of Argentina made up of blue dots\" class=\"wp-image-79462\" width=\"338\" height=\"675\" srcset=\"https:\/\/www.bu.edu\/law\/files\/2021\/05\/argentina.jpg 450w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/argentina-318x636.jpg 318w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/argentina-413x826.jpg 413w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/argentina-341x682.jpg 341w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/argentina-172x344.jpg 172w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/argentina-265x529.jpg 265w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/argentina-344x688.jpg 344w\" sizes=\"(max-width: 338px) 100vw, 338px\" \/><figcaption>After decades of political turmoil, rising debt, and skyrocketing inflation, Argentina was left in dire economic straits.<\/figcaption><\/figure><\/div>\n\n\n\n<p><em>Bloomberg Business<\/em> hailed O\u2019Neil in September as <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-08\/she-is-blackrock-s-new-star-after-sealing-argentina-s-debt-deal\" target=\"_blank\" rel=\"noreferrer noopener\">the \u201cnew star\u201d of BlackRock Inc.<\/a>, the world\u2019s largest asset manager. She diplomatically deflected the praise, insisting that \u201cit takes more than one person to get the deal done.\u201d Locking in payment terms for dozens of institutional creditors demanded more than eight months of patience, financial savvy, protracted phone and Zoom conference calls, and an unflagging commitment to finding common ground. In the end, O\u2019Neil\u2019s negotiations helped secure about $13 billion more for a group of creditors than the Latin American country insisted it could ever possibly pay. \u201cthe goal is to find a constructive solution,\u201d says O\u2019Neil, a managing director at BlackRock, which oversees more than $7 trillion in assets worldwide. \u201cYou\u2019re really trying to maximize value for everyone in a situation where there\u2019s not enough value to go around, and everybody recognizes that.\u201d<\/p>\n\n\n\n<p>\u201cNot enough value to go around\u201d is a tactful description of <a href=\"https:\/\/www.dw.com\/en\/https-enwikipediaorg-wiki-economichistoryofargentina\/a-54310145\" target=\"_blank\" rel=\"noreferrer noopener\">Argentina\u2019s financial woes<\/a>. Decades of political turmoil, rising debt, and skyrocketing inflation had left the country in dire economic straits. The government had repeatedly defaulted on its debt and owed creditors a total of about $324 billion, or about 90 percent of its gross domestic product, according to the <em>Buenos Aires Times<\/em>. Shortly after Alberto Fern\u00e1ndez became president in December 2019, interest payments of $500 million were due on $65 billion in bonds, and it appeared that the country would default yet again. Fern\u00e1ndez named a new minister of economy: Martin Guzm\u00e1n, an Argentine who\u2019d earned a doctorate in economics at Brown University.<\/p>\n\n\n\n<h2 id=\"headline-3\" class=\"wp-block-editorial-headline record-block-editorial-headline\">Bringing about Consensus<\/h2>\n\n\n\n<p>Refinancing the country\u2019s hefty debt was the only way forward, but reaching consensus would require delicate, face-saving negotiations for Argentina and the buy-in of dozens of anxious, hungry creditors. O\u2019Neil and her BlackRock colleagues were working in a group of 15 financial institutions, which in turn represented the interests of various investors around the world. In BlackRock\u2019s portfolio of investors, O\u2019Neil notes, are pension and retirement funds for teachers, firefighters, and nurses\u2014people to whom BlackRock has a fiduciary duty. Settling for too little would, ultimately, shortchange not only global financial groups but also those investors.<\/p>\n\n\n\n<p>O\u2019Neil has plenty of practice making a little go a longer way. She manages an 11-person team that covers all of BlackRock\u2019s alternative investing, including restructuring sovereign and corporate debt, throwing a financial lifeline to distressed countries and businesses. Long workdays are a given. But when the COVID-19 pandemic upended business operations for both companies and consumers, O\u2019Neil\u2019s workload became even more intense.<\/p>\n\n\n\n<p>Argentina was already on her radar. BlackRock had reached out to Guzm\u00e1n about refinancing when he took office, but <a href=\"https:\/\/www.batimes.com.ar\/news\/economy\/martin-guzman-the-reality-facing-argentina-was-not-understood-by-creditors.phtml\" target=\"_blank\" rel=\"noreferrer noopener\">negotiations had a rocky start<\/a>. Creditors were focused on a constructive negotiation process, and Argentina didn\u2019t seem to be on the same page. The Argentine government insisted it couldn\u2019t pay more than 39 cents on the dollar. Knowing that bondholders represented by other financial institutions were vying for limited resources, Argentina\u2019s officials attempted to play one group off the other. They made personal attacks in the press. They insisted, again and again, that every offer was their final one. Proposals were drafted and lobbed back and forth for months before being rejected. London-based bondholders on 3 am phone calls stifled yawns.<\/p>\n\n\n\n<p>\u201cHad we been in person, it would have been easier to push the government in a conciliatory way, to have them think a bit more outside the box,\u201d O\u2019Neil says. \u201cWhen you\u2019re on Zoom and it\u2019s silent for a minute, everybody just hangs up and goes back to their living room. That\u2019s the real value of being in person: you can\u2019t just cut things off.\u201d<\/p>\n\n\n\n<div class=\"wp-block-bu-pullquote record-block-bu-pullquote alignwide is-style- has-image-focus-center-middle has-secondary-theme\"><div class=\"wp-block-bu-pullquote-inner\"><figure><\/figure><blockquote><div class=\"container-lockup\"><div class=\"container-icon-outer\"><div class=\"container-icon-inner\"><\/div><\/div><div class=\"container-text\"><hr\/><div class=\"quote-sizing\">There are all these Type A personalities, and one of the reasons we were able to hold it all together was that Jen forged relationships with other groups and kept the creditors from fighting against themselves, which would have been incredibly self-destructive.<\/div><footer class=\"caption\">Brian Pfeiffer, one of O\u2019Neil\u2019s colleagues during the negotiations with Argentina<\/footer><hr\/><\/div><\/div><\/blockquote><\/div><\/div>\n\n\n\n<h2 id=\"headline-2\" class=\"wp-block-editorial-headline record-block-editorial-headline\">Months of Negotiations<\/h2>\n\n\n\n<p>Meanwhile, COVID-19 cases skyrocketed. Hospitals filled, and gyms and restaurants emptied. O\u2019Neil clung to her morning runs \u201cfor sanity\u2019s sake.\u201d She and her partner decamped to a rented seaside house on Long Island\u2019s rustic North Fork when the weather warmed. Negotiations dragged. She returned to Tribeca for a week. She went back to the North Fork.<\/p>\n\n\n\n<p>In the thick of talks with the Argentines, O\u2019Neil slotted a <a href=\"https:\/\/www.ft.com\/content\/567d51c2-4410-4fdd-a59b-7227077cb922\" target=\"_blank\" rel=\"noreferrer noopener\">$17 billion debt-restructuring deal for Ecuador<\/a> onto her to-do list, working out an amicable settlement in just two weeks. That success sent a strong signal to Argentina\u2019s team that BlackRock and other bondholders were willing collaborators, but talks made little headway. Without chitchat over coffee breaks or socializing over boxed lunches, the parties had few opportunities to build the rapport that paves the way for compromise. \u201cThe personal connection is much harder to establish,\u201d O\u2019Neil says. \u201cI can say with absolute certainty that it was not a positive to be doing this remotely.\u201d<\/p>\n\n\n\n<p>O\u2019Neil was not BlackRock\u2019s sole negotiator, but she was the one who found a way to click with Guzm\u00e1n. Like O\u2019Neil, he is a runner who knows New York City (he\u2019s affiliated with Columbia University\u2019s Initiative for Policy Dialogue). Their talk at one point drifted to running routes through Central Park, where he used to jog. \u201cThe key thing was really just establishing a connection,\u201d O\u2019Neil says, \u201cadjacent to but not completely focused on the economics of restructuring the 60-plus billion dollars of debt. In the end, I was the one who was able to get the traction, to really dot the i&#8217;s and cross the t&#8217;s on getting a deal done and to take it across the finish line. Why it was me versus someone else is a bit of a mystery\u2014some combination of luck and skill.\u201d<\/p>\n\n\n\n<p>It\u2019s no mystery at all, says Brian Pfeiffer, who represented the interests of 13 large creditors, including BlackRock and two hedge funds, in negotiations. O\u2019Neil calmly stood up to Argentina\u2019s team when they postured and bluffed. She cultivated a deep and vast knowledge of the parties\u2019 interests and concerns. And, he says, she nimbly managed the competing demands\u2014and outsized egos\u2014of hungry creditors.<\/p>\n\n\n\n<p>\u201cThere are all these Type A personalities,\u201d says Pfeiffer, a partner in White &amp; Case\u2019s Miami office, \u201cand one of the reasons we were able to hold it all together was that Jen forged relationships with other groups and kept the creditors from fighting against themselves, which would have been incredibly self-destructive.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"683\" height=\"1024\" src=\"\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-683x1024.jpg\" alt=\"Jennifer O'Neil ('07)\" class=\"wp-image-79465\" srcset=\"https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-683x1024.jpg 683w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-424x636.jpg 424w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-768x1152.jpg 768w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-1024x1536.jpg 1024w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-1365x2048.jpg 1365w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-551x826.jpg 551w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-455x682.jpg 455w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-688x1032.jpg 688w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-881x1321.jpg 881w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-229x344.jpg 229w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-353x529.jpg 353w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-459x688.jpg 459w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-705x1058.jpg 705w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-909x1364.jpg 909w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-1101x1652.jpg 1101w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-1376x2064.jpg 1376w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2-667x1000.jpg 667w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/Jennifer-ONeil-001-2.jpg 1500w\" sizes=\"(max-width: 683px) 100vw, 683px\" \/><\/figure>\n\n\n\n<h2 id=\"headline-1\" class=\"wp-block-editorial-headline record-block-editorial-headline\">A Career of Pivots<\/h2>\n\n\n\n<p>After studying mathematical biology at the University of Washington, O\u2019Neil chose BU Law to pursue her interest in bioethics. She pivoted to business restructuring and reorganization, spending eight years at Jones Day and a year at Anchorage Capital Group. Eager to return to California, the San Diego native interviewed with BlackRock in 2015 for a San Francisco\u2013based job. Her skills better aligned with a role based in New York City, so she took the job and stayed put.<\/p>\n\n\n\n<p>Since joining BlackRock, O\u2019Neil has proven herself an adept and unflappable team member and leader who balances many competing\u2014and sometimes contradictory\u2014concerns, says colleague Sergio Trigo Paz, head of BlackRock\u2019s emerging markets fixed income, who worked with her on the Argentine and Ecuadoran debt restructurings. \u201cYou are in a place where you know everyone will be unhappy in the end,\u201d he says. \u201cMinimizing the unhappiness is the clear goal.\u201d<\/p>\n\n\n\n<p>Diplomacy, negotiation, and trust are as much a part of debt restructuring as crunching numbers and hammering out legal language. Although the Argentines repeatedly claimed they were making a \u201cfinal offer,\u201d O\u2019Neil patiently edged them toward a better position for creditors. Argentina\u2019s team ultimately upped its \u201cfinal offer\u201d to more than 54 cents on the dollar, resulting in $13 billion more for creditors than the country had offered at the start of talks.<\/p>\n\n\n\n<p>\u201cWe just were able to find value in different pockets,\u201d O\u2019Neil explains. \u201cWe had to get very creative and try to figure out other ways to generate value for the bonds. You never want to leave something on the table.\u201d Argentina will make minimal payments through 2024, giving Guzm\u00e1n time to implement policies to revive the economy. It will be many years, however, before creditors know whether the country can successfully emerge from its financial crisis.<\/p>\n\n\n\n<p class=\"is-style-end-of-article\">The global economic upheaval caused by the pandemic will keep O\u2019Neil busy with sovereign and corporate debt restructuring. Her ideal scenario for those deals takes its cues from how the Argentine process played out: \u201cA group of really smart people come together and come up with a creative solution to a very big, very complicated problem, and they work with a particularly challenging counterparty to get to an agreement. Being able to overcome a challenge like that is a pretty big accomplishment. And I like being part of that.\u201d&nbsp;<\/p>\n\n\n\n\n\n<hr class=\"wp-block-separator is-style-wide\"\/>\n\n\n\n<div class=\"wp-block-media-text is-stacked-on-mobile\" style=\"grid-template-columns:24% auto\"><figure class=\"wp-block-media-text__media\"><a href=\"https:\/\/www.bu.edu\/law\/news-stories\/issues\/spring-2021\/\"><img loading=\"lazy\" width=\"791\" height=\"1024\" src=\"\/law\/files\/2021\/05\/LAW-Record-S21-cover-791x1024.jpg\" alt=\"The Record, spring 2021\" class=\"wp-image-79416\" srcset=\"https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-791x1024.jpg 791w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-492x636.jpg 492w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-768x994.jpg 768w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-1187x1536.jpg 1187w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-638x826.jpg 638w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-527x682.jpg 527w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-798x1032.jpg 798w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-1021x1321.jpg 1021w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-266x344.jpg 266w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-409x529.jpg 409w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-532x688.jpg 532w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-818x1058.jpg 818w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-1054x1364.jpg 1054w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-1277x1652.jpg 1277w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-773x1000.jpg 773w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover-335x435.jpg 335w, https:\/\/www.bu.edu\/law\/files\/2021\/05\/LAW-Record-S21-cover.jpg 1487w\" sizes=\"(max-width: 791px) 100vw, 791px\" \/><\/a><\/figure><div class=\"wp-block-media-text__content\">\n<p>FEATURED IN:<\/p>\n\n\n\n<h2>The Record,<br>Spring 2021<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.bu.edu\/law\/news-stories\/issues\/spring-2021\/\" target=\"_blank\" rel=\"noreferrer noopener\">See all stories<\/a><\/p>\n<\/div><\/div>\n\n\n\n<hr class=\"wp-block-separator is-style-wide\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Like millions of Americans, Jennifer O\u2019Neil (\u201907) spent last spring and summer stuck at home. She started her days at 6 am with a run and prepped dinner every night, chopping onions for curries and beating eggs for frittatas. And in between and into the night, during marathon 16-hour workdays, she deftly brokered a massive global agreement to restructure Argentina\u2019s $65 billion debt.<\/p>\n","protected":false},"author":11260,"featured_media":79447,"comment_status":"closed","ping_status":"closed","template":"","meta":{"bu_prepress_billboard":"{\"post_id\":79383,\"hed\":\"Climate Risk and Corporate Responsibility\",\"dek\":\"Next Article\",\"class\":\"wp-block-editorial-billboard record-block-editorial-billboard is-style-half-photo has-light-overlay has-media\",\"backgroundId\":\"79396\",\"backgroundUrl\":\"\\\/law\\\/files\\\/2021\\\/05\\\/Sansanee-Dhanasarnsombat-002-970x456.jpg\",\"backgroundType\":\"image\",\"backgroundOpacity\":\"100\"}","_bu_prepress_primary_term":"Feature","_bu_prepress_primary_term_manual":""},"tags":[1257,4137],"bu-publication":[3742],"record-article-category":[3918,3744,3765,3771,3786],"record-topic":[],"bu_edition":[],"media_type":[],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article\/79443"}],"collection":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article"}],"about":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/types\/bu-article"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/users\/11260"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/comments?post=79443"}],"version-history":[{"count":26,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article\/79443\/revisions"}],"predecessor-version":[{"id":93660,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-article\/79443\/revisions\/93660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/media\/79447"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/media?parent=79443"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/tags?post=79443"},{"taxonomy":"bu-publication","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu-publication?post=79443"},{"taxonomy":"record-article-category","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/record-article-category?post=79443"},{"taxonomy":"record-topic","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/record-topic?post=79443"},{"taxonomy":"bu_edition","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/bu_edition?post=79443"},{"taxonomy":"media_type","embeddable":true,"href":"https:\/\/www.bu.edu\/law\/wp-json\/wp\/v2\/media_type?post=79443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}