The International Law of Sovereign Debt Dispute Settlement

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1009250027
Total Pages : 381 pages
Book Rating : 4.0/5 (92 download)

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Book Synopsis The International Law of Sovereign Debt Dispute Settlement by : Kei Nakajima

Download or read book The International Law of Sovereign Debt Dispute Settlement written by Kei Nakajima and published by Cambridge University Press. This book was released on 2022-09-22 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills the normative gap arising from the absence of a multilateral mechanism for sovereign debt restructuring.

Mediating Sovereign Debt Disputes

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Author :
Publisher : Springer Nature
ISBN 13 : 3031467876
Total Pages : 188 pages
Book Rating : 4.0/5 (314 download)

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Book Synopsis Mediating Sovereign Debt Disputes by : Calliope Makedon Sudborough

Download or read book Mediating Sovereign Debt Disputes written by Calliope Makedon Sudborough and published by Springer Nature. This book was released on 2024-01-08 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a fresh perspective on resolving sovereign debt disputes within the investor-state mediation framework. In response to the limitations of traditional approaches to adjudicating public debt issues and the resulting gaps in international law concerning sovereign defaults, creditors have increasingly turned to investor-state treaty arbitrations to recover unpaid debts. However, this shift has raised numerous criticisms and concerns. Accordingly, this book explores the uncharted territory of utilizing mediation as a means to settle sovereign debt claims. It sheds light on the distinctive characteristics of mediation as a process, setting it apart from judicial litigation and private arbitration, and emphasizing the unique outcomes it can generate. The central argument of this book is that mediation should be seriously considered as a viable option for resolving sovereign debt disputes. Not only does it offer a more cost-effective and expeditious approach, but it also has the potential to facilitate economic recovery and sustain continued investment.

Sovereign Defaults before International Courts and Tribunals

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1139496131
Total Pages : 429 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Sovereign Defaults before International Courts and Tribunals by : Michael Waibel

Download or read book Sovereign Defaults before International Courts and Tribunals written by Michael Waibel and published by Cambridge University Press. This book was released on 2011-05-26 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: International law on sovereign defaults is underdeveloped because States have largely refrained from adjudicating disputes arising out of public debt. The looming new wave of sovereign defaults is likely to shift dispute resolution away from national courts to international tribunals and transform the current regime for restructuring sovereign debt. Michael Waibel assesses how international tribunals balance creditor claims and sovereign capacity to pay across time. The history of adjudicating sovereign defaults internationally over the last 150 years offers a rich repository of experience for future cases: US state defaults, quasi-receiverships in the Dominican Republic and Ottoman Empire, the Venezuela Preferential Case, the Soviet repudiation in 1917, the League of Nations, the World War Foreign Debt Commission, Germany's 30-year restructuring after 1918 and ICSID arbitration on Argentina's default in 2001. The remarkable continuity in international practice and jurisprudence suggests avenues for building durable institutions capable of resolving future sovereign defaults.

Sovereign Debt Restructuring: the Role and Limits of Public International Law

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Author :
Publisher :
ISBN 13 : 9788892133884
Total Pages : 259 pages
Book Rating : 4.1/5 (338 download)

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Book Synopsis Sovereign Debt Restructuring: the Role and Limits of Public International Law by : Annamaria Viterbo

Download or read book Sovereign Debt Restructuring: the Role and Limits of Public International Law written by Annamaria Viterbo and published by . This book was released on 2020 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Doctrine of Odious Debt in International Law

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1107128013
Total Pages : 249 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis The Doctrine of Odious Debt in International Law by : Jeff King

Download or read book The Doctrine of Odious Debt in International Law written by Jeff King and published by Cambridge University Press. This book was released on 2016-05-26 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book outlines how odious debts are not legally binding under international or domestic law, contrary to widely held legal opinion.

Sovereign Debt Restructuring and the Law

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Author :
Publisher : Taylor & Francis
ISBN 13 : 1000826708
Total Pages : 194 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Sovereign Debt Restructuring and the Law by : Sebastian Grund

Download or read book Sovereign Debt Restructuring and the Law written by Sebastian Grund and published by Taylor & Francis. This book was released on 2022-12-30 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book sheds light on the perhaps most important legal conundrum in the context of sovereign debt restructuring: the holdout creditor problem. Absent an international bankruptcy regime for sovereigns, holdout creditors may delay or even thwart the efficient resolution of sovereign debt crises by leveraging contractual provisions and, in an increasing number of cases, by seeking to enforce a debt claim against the sovereign in courts or international tribunals. Following an introduction to sovereign debt and its restructuring, the book provides the first comprehensive analysis of the holdout creditor problem in the context of the two largest sovereign debt restructuring operations in history: the Argentine restructurings of 2005 and 2010 and the 2012 Greek private sector involvement. By reviewing numerous lawsuits and arbitral proceedings initiated against Argentina and Greece across a dozen different jurisdictions, it distils the organizing principles for ongoing and future cases of sovereign debt restructuring and litigation. It highlights the different approaches judges and arbitrators have adopted when dealing with holdout creditors, ranging from the denial of their contractual right to repayment on human rights grounds to leveraging the international financial infrastructure to coerce governments into meeting holdouts’ demands. To this end, it zooms in on the role the governing law plays in sovereign debt restructurings, revisits the contemporary view on sovereign immunity from suit and enforcement in the international debt context, and examines how creditor rights are balanced with the sovereign’s interest in achieving debt sustainability. Finally, it advances a new genealogy of holdouts, distinguishing between official and private sector holdouts and discussing how the proliferation of new types of uncooperative creditors may affect the sovereign debt architecture going forward. While the book is aimed at practitioners and scholars dealing with sovereign debt and its restructuring, it should also provide the general reader with the understanding of the key legal issues facing countries in debt distress. Moreover, by weaving economic, financial, and political considerations into its analysis of holdout creditor litigation and arbitration, the book also speaks to policymakers without a legal background engaged in the field of international finance and economics.

Sovereign Financing and International Law

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Author :
Publisher : OUP Oxford
ISBN 13 : 0191656119
Total Pages : 432 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis Sovereign Financing and International Law by : Carlos Espósito

Download or read book Sovereign Financing and International Law written by Carlos Espósito and published by OUP Oxford. This book was released on 2013-10-03 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regulation of sovereign financing is a highly topical and significant issue, in the light of continuing global financial turmoil. This book assesses the role of international law in sovereign financing, addressing this issue from both legal and economic standpoints. It takes as a starting point the recent report 'Principles on Responsible Sovereign Lending and Borrowing' by the United Nations Conference on Trade and Development (UNCTAD). This report was endorsed by the United Nations General Assembly in its December 2011 Resolution on Debt, which emphasized the need for creditors and debtors to share responsibility for preventing unsustainable debt situations and encouraged all stakeholders to pursue the ongoing discussions within the framework of the UNCTAD Initiative. Investigating the legal and economic basis for the principles which were articulated in the report, the book develops a detailed and nuanced analysis of the controversial and complex issues they raise, including those concerning finance and credit rating agencies, contingent liabilities, debt management, corruption, fiduciary relations and duties, Collective Action Clauses, and the role of the EU and UN. Ultimately, it argues that the principles elaborated in the report correspond with general principles of international law, which provide a strong, pre-existing foundation upon which to build responsible principles for sovereign financing.

Sovereign Defaults Before International Courts and Tribunals

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Author :
Publisher :
ISBN 13 : 9781139069823
Total Pages : 366 pages
Book Rating : 4.0/5 (698 download)

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Book Synopsis Sovereign Defaults Before International Courts and Tribunals by : Michael Waibel (Lawyer)

Download or read book Sovereign Defaults Before International Courts and Tribunals written by Michael Waibel (Lawyer) and published by . This book was released on 2011 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: "International law on sovereign defaults is underdeveloped because States have largely refrained from adjudicating disputes arising out of public debt. The looming new wave of sovereign defaults is likely to shift dispute resolution away from national courts to international tribunals and transform the current regime for restructuring sovereign debt. Michael Waibel assesses how international tribunals balance creditor claims and sovereign capacity to pay across time. The history of adjudicating sovereign defaults internationally over the last 150 years offers a rich repository of experience for future cases: US state defaults, quasi-receiverships in the Dominican Republic and Ottoman Empire, the Venezuela Preferential Case, the Soviet repudiation in 1917, the League of Nations, the World War Foreign Debt Commission, Germany's 30-year restructuring after 1918 and ICSID arbitration on Argentina's default in 2001. The remarkable continuity in international practice and jurisprudence suggests avenues for building durable institutions capable of resolving future sovereign defaults"--

The Settlement of Disputes in International Law

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Author :
Publisher : Oxford University Press, USA
ISBN 13 : 9780198299271
Total Pages : 428 pages
Book Rating : 4.2/5 (992 download)

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Book Synopsis The Settlement of Disputes in International Law by : John G. Collier

Download or read book The Settlement of Disputes in International Law written by John G. Collier and published by Oxford University Press, USA. This book was released on 2000 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many years it was said that the weakness of international law was the lack of a system for the enforcement of legal obligations. Commentators pointed to the paucity of cases in the International Court and the unwillingness of States to undertake binding obligations to settle their disputes. This position has now changed beyond recognition. The number of international tribunals has increased and many of them, such as ICSID and the International Court of Justice, are busier than at any time in their history. Increasingly, the classical procedures of diplomatic protection are circumvented as corporations and individuals litigate in their own right against States in international tribunals. This book surveys the range of procedures for the settlement of international disputes, whether the disputes arise between States or between States and corporations or individuals. The first part of the book examines non-judicial procedures such as negotiation, mediation, fact-finding, as well as judicial procedures. Among the tribunals covered are ICSID, the UNCC and the Iran-US Claim Tribunal, the WTO disputes panels, ad-hoc inter-State and international commercial arbitral tribunals and the International Court of Justice. In the second part of the book the emerging principles of procedural law applied in these tribunals are discussed. Here the authors go through the entire settlement process from the agreement to submit to a settlement procedure and the constitution of the tribunal, through to the determination of the law applicable to the merits and to the procedure of the tribunal, to the review, and ultimately the recognition and enforcement of tribunal awards.

Sovereign Debt Restructurings 1950-2010

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475505531
Total Pages : 128 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Sovereign Debt Restructurings 1950-2010 by : Mr.Udaibir S. Das

Download or read book Sovereign Debt Restructurings 1950-2010 written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2012-08-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.

Implementing International Economic Law

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Author :
Publisher : Martinus Nijhoff Publishers
ISBN 13 : 9004203834
Total Pages : 220 pages
Book Rating : 4.0/5 (42 download)

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Book Synopsis Implementing International Economic Law by : Yusuf Aksar

Download or read book Implementing International Economic Law written by Yusuf Aksar and published by Martinus Nijhoff Publishers. This book was released on 2011-09-23 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Implementing International Economic Law focuses on the relationship between the rules of public international law and international economic law from the point of view of dispute settlement mechanisms. It demonstrates that the practice of international adjudicative bodies such as the WTO and the ICSID went beyond merely interpreting and applying the rules of law and became international organisations as “law-makers”. This is where the sources of international law play a crucial role.

The Doctrine of Odious Debt in International Law

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1316565254
Total Pages : 249 pages
Book Rating : 4.3/5 (165 download)

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Book Synopsis The Doctrine of Odious Debt in International Law by : Jeff King

Download or read book The Doctrine of Odious Debt in International Law written by Jeff King and published by Cambridge University Press. This book was released on 2016-05-26 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the doctrine of odious debt, loans which are knowingly provided to subjugate or defraud the population of a debtor state are not legally binding against that state under international law. Breaking with widespread scepticism, this groundbreaking book reaffirms the original doctrine through a meticulous and definitive examination of state practice and legal history. It restates the doctrine by introducing a new classification of odious debts and defines 'odiousness' by reference to the current, much more determinate and litigated framework of existing public international law. Acknowledging that much of sovereign debt is now governed by the private law of New York and England, Jeff King explores how 'odious debts' in international law should also be regarded as contrary to public policy in private law. This book is essential reading for practising lawyers, scholars, and development and human rights workers.

Sovereign Debt Restructuring: The Role and Limits of Public International Law - e-Book

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Author :
Publisher : G Giappichelli Editore
ISBN 13 : 8892187961
Total Pages : pages
Book Rating : 4.8/5 (921 download)

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Book Synopsis Sovereign Debt Restructuring: The Role and Limits of Public International Law - e-Book by : VITERBO ANNAMARIA

Download or read book Sovereign Debt Restructuring: The Role and Limits of Public International Law - e-Book written by VITERBO ANNAMARIA and published by G Giappichelli Editore. This book was released on 2020-06-09 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Contemporary Concept of Monetary Sovereignty

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Author :
Publisher : OUP Oxford
ISBN 13 : 0191502065
Total Pages : 292 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis A Contemporary Concept of Monetary Sovereignty by : Claus D. Zimmermann

Download or read book A Contemporary Concept of Monetary Sovereignty written by Claus D. Zimmermann and published by OUP Oxford. This book was released on 2013-11-07 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary sovereignty is a crucial legal concept dictating that states have sovereignty over their own monetary, financial, and fiscal affairs. However, it does not feature as part of any key instruments of international law, including the Articles of Agreement of the International Monetary Fund. Rather, it has remained a somewhat separate notion, developed under contemporary international law from an assertion of the former Permanent Court of International Justice in 1929. As a consequence of globalization and increasing financial integration and a worldwide trend towards the creation of economic and monetary unions, the principle of monetary sovereignty has undergone significant change. This book examines this evolution in detail, and provides a conceptual framework to demonstrate what this means for the legal and economic challenges faced by the international community. The book examines the historic origins and evolution of the concept of monetary sovereignty, putting it into the context of broader concepts of sovereignty. It argues that monetary sovereignty remains relevant as a dynamic legal concept with both positive and normative components. It investigates the continuing hybridization of international monetary law resulting from changes to its formal and material sources. It then examines the complex phenomenon of exchange rate misalignment under international monetary and trade law, and the increasing regionalization of monetary sovereignty, notably in light of the European sovereign debt crisis. Finally, it assesses the role the concept of monetary sovereignty can play in the reorganization of international finance following the recent global financial crisis.

Sovereign Debt Restructuring: The Role and Limits of Public International Law - e-Pub

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Author :
Publisher : G Giappichelli Editore
ISBN 13 : 8892189654
Total Pages : 407 pages
Book Rating : 4.8/5 (921 download)

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Book Synopsis Sovereign Debt Restructuring: The Role and Limits of Public International Law - e-Pub by : VITERBO ANNAMARIA

Download or read book Sovereign Debt Restructuring: The Role and Limits of Public International Law - e-Pub written by VITERBO ANNAMARIA and published by G Giappichelli Editore. This book was released on 2020-06-09 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sovereign Debt and Human Rights

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Author :
Publisher : Oxford University Press, USA
ISBN 13 : 019881044X
Total Pages : 641 pages
Book Rating : 4.1/5 (988 download)

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Book Synopsis Sovereign Debt and Human Rights by : Ilias Bantekas

Download or read book Sovereign Debt and Human Rights written by Ilias Bantekas and published by Oxford University Press, USA. This book was released on 2019-01-15 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign debt is necessary for the functioning of many modern states, yet its impact on human rights is underexplored in academic literature. This volume provides the reader with a step-by-step analysis of the debt phenomenon and how it affects human rights. Beginning by setting out thehistorical, political and economic context of sovereign debt, the book goes on to address the human rights dimension of the policies and activities of the three types of sovereign lenders: international financial institutions (IFIs), sovereigns and private lenders.Bantekas and Lumina, along with a team of global experts, establish the link between debt and the manner in which the accumulation of sovereign debt violates human rights, examining some of the conditions imposed by structural adjustment programs on debtor states with a view to servicing their debt.They outline how such conditions have been shown to exacerbate the debt itself at the expense of economic sovereignty, concluding that such measures worsen the borrower's economic situation, and are injurious to the entrenched rights of peoples.

Sovereign Debt

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Author :
Publisher : Springer
ISBN 13 : 9783319362816
Total Pages : 0 pages
Book Rating : 4.3/5 (628 download)

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Book Synopsis Sovereign Debt by : Mauro Megliani

Download or read book Sovereign Debt written by Mauro Megliani and published by Springer. This book was released on 2016-08-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a thorough legal analysis of sovereign indebtedness, examining four typologies of sovereign debt – bilateral debt, multilateral debt, syndicated debt and bonded debt – in relation to three crucial contexts: genesis, restructuring and litigation. Its treatise-style approach makes it possible to capture in a systematic manner a phenomenon characterized by high complexity and unclear boundaries. Though the analysis is mainly conducted on the basis of international law, the breadth of this topical subject has made it necessary to include other sources, such as private international law, domestic law and financial practice; moreover, references are made to international financial relations and international financial history so as to provide a more complete understanding. Although it follows the structure of a continental tractatus, the work strikes a balance between consideration of doctrinal and jurisprudential sources, making it a valuable reference work for scholars and practitioners alike.