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Sovereign Debt Restructuring and Contract Law: A Good Faith and Relational Contract Approach

Coming Soon Sovereign Debt Restructuring and Contract Law: A Good Faith and Relational Contract Approach

Sovereign Debt Restructuring and Contract Law: A Good Faith and Relational Contract Approach

Author: Francis Chukwu
Publisher: Routledge
ISBN: 9781041206132
Published In: June 2026
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

This book tackles the challenge of holdout creditor disruption of sovereign debt restructuring, where creditors reject collective agreements to pursue full loan recovery in domestic courts.

Critically examining the contemporary statutory and contractual approaches to sovereign debt restructuring, the book presents their usefulness and limitations, including the potential major impact of the doctrine of merger in rem judicatam. It proposes the duty of good faith (which is generally implied under U.S law, implied in certain categories of contract under English law, and widely recognized globally) applied in the context of sovereign debt as a relational contract, as a robust legal approach to combating such disruptions in domestic courts. Through rigorous analysis of case law and treatises, the book argues that sovereign debt contracts are relational contracts, invoking heightened good faith and equity obligations. With in-depth analysis of the contents and judicial applications of the duty of good faith in English and New York jurisprudence, it demonstrates how holdout actions violate good faith, and proffers a judicial approach, based on the duty of good faith, to sovereign debt restructuring as a viable alternative to current statutory and contractual approaches.

This book will be of interest to practitioners, researchers, and policy makers in contract law, finance law, relational contract theory, good faith, and sovereign debt.

Introduction

1. Sovereign Debt and Holdout Disruption

2. The Promises and Limitations of Contemporary Approaches

3. The Relational Contract Approach

4. Sovereign Debt as a Relational Contract

5. A Comparative Overview of the Doctrine of Good Faith under English and New York Laws

6. Good Faith and Relational Contract in Sovereign Debt Context

7. Good Faith and Relational Contract in Holdout Adjudication

Conclusion