The Legal Aspects of Sovereign Debt Restructuring provides a legal analysis of the problems with sovereign debt and then progresses to give creditors a toolkit to deal with these problems. The book aims to offer some concepts of how to restructure sovereign loans, rather than take legal actions through the courts. The main purpose is to give creditors, and their lawyers, practical advice on how to deal with sovereign debt and present a set of guidelines for creditors/lawyers to use. The approach is theoretical and eminently practical since it is very closely related to different types of international financial transactions and their legal documentation. Wherever possible and appropriate, an actual case study will be provided, the law and jurisprudence will be discussed and a draft of a relevant clause will be provided. The book relies strongly upon English and US law (with numerous references to the law of the State of New York which has been influential in the field of sovereign debt restructuring, given the case law that has emanated from New York courts). This notwithstanding, references to legal norms of other jurisdictions such as Argentina, Australia, Belgium, EU, Ecuador, Germany, Japan, Luxembourg are provided where necessary. In summary, the book will provide (1) a practical guide for creditors holding distressed debt of a sovereign in the evaluation of their alternatives; and (2) the necessary steps to achieve their goal.
Publisher: Sweet & Maxwell Ltd
Number of pages: 444
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