She defaulted on the meeting.
The firm has defaulted on a debt.
Having defaulted on some of their obligations, the Gosaibis allege that Mr Sanea defrauded them of billions of dollars, borrowing money in their name, without their say-so.
So far, no currencies have collapsed; no country has defaulted; no banks have faced runs, or been cut adrift by foreign owners.
Why would you make a loan if you weren't even sure that, if the guy defaulted, you could at least foreclose?
But recent years have seen mortgage loans made to millions of individuals with poor, risky, or insufficient credit - many of whom have either defaulted on the loans or are at risk of doing so.
