Legal Aspects of Sovereign Debt Restructuring

Legal Aspects of Sovereign Debt Restructuring provides a legal analysis of the problems with sovereign debt along with a toolkit to deal with these problems. It:

• Discusses the concepts of how to restructure sovereign debt
• Structured to cover the two key areas: the procedural aspects and the transactional aspects
• Takes you through the logical sequence of steps a creditor has to consider before suing the sovereign
• Shows how a successful judgment can be enforced
• Covers the theoretical framework on sovereign debt restructures, including how syndicated loans were restructured into international bonds and the challenges involved
• Describes the current decentralised market-oriented approach as opposed to the centralised, statutorily, non-market oriented approach of the “Sovereign Debt Restructuring Mechanism” proposed by the IMF and Rule 23 of the US Federal Rules of Civil Procedure
• Gives examples of successful cases demonstrating bond restructurings in Russia, Ukraine, Pakistan, Ecuador, Uruguay, Argentina, Belize and Grenada
• Presents the law according to English and US systems, with reference to the norms of other jurisdictions such as Argentina, Australia, Belgium, EU, Germany, Japan and Luxembourg where necessary
• Features a workflow diagram
• Covers all the relevant areas of the law in one publication