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The International Law of Sovereign Debt Dispute Settlement

2022-09-22 Law
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Release : 2022-09-22
Genre : Law
Kind : eBook
Book Rating : 035/5 ( reviews)

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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. This book was released on 2022-09-22. Available in PDF, EPUB and Kindle. Book excerpt: The first two decades of the twenty-first century witnessed a series of large-scale sovereign defaults and debt restructurings, in which sovereigns struggled to negotiate with recalcitrant bondholders, particularly hedge funds. Also, the outbreak of the COVID-19 pandemic in 2020 heralded a bleak financial outlook for many developing and emerging market countries, requiring sovereign debt restructuring in times of great macroeconomic uncertainty. Given the absence of a multilateral mechanism for sovereign debt restructuring equivalent to domestic corporate bankruptcy system, however, defaulted sovereigns often suffer from holdout litigation wrought by bondholders. This book proposes ways in which such legal actions could be regulated without the undue expense of bondholders' remedies by exploring the mechanism of balancing bondholder protection and respect for sovereign debt restructuring at various stages of litigation and arbitration proceedings.

Mediating Sovereign Debt Disputes

2024-01-08 Law
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Release : 2024-01-08
Genre : Law
Kind : eBook
Book Rating : 876/5 ( reviews)

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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. This book was released on 2024-01-08. 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

2011-05-26 Law
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Release : 2011-05-26
Genre : Law
Kind : eBook
Book Rating : 131/5 ( reviews)

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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. This book was released on 2011-05-26. 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 Private-Public Law Divide in International Dispute Resolution

2018-08-21 Law
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Release : 2018-08-21
Genre : Law
Kind : eBook
Book Rating : 901/5 ( reviews)

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Book Synopsis The Private-Public Law Divide in International Dispute Resolution by : Burkhard Hess

Download or read book The Private-Public Law Divide in International Dispute Resolution written by Burkhard Hess. This book was released on 2018-08-21. Available in PDF, EPUB and Kindle. Book excerpt: This course addresses dispute resolution in international cases from the classical perspective of the private-public divide. The main focus relates to overlapping remedies available under private international and public international law. Nowadays, a multitude of courts and arbitral tribunals at different levels (domestic, international and transnational) is accessible to litigants in cross-border settings.

Sovereign Defaults Before International Courts and Tribunals

2011 Arbitration (International law)
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Release : 2011
Genre : Arbitration (International law)
Kind : eBook
Book Rating : 823/5 ( reviews)

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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). This book was released on 2011. 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"--

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