Sovereign Debt

Venezuelan Debt: Soft Power Matters

07/11/19

Mark Weidemaier and Mitu Gulati

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Equal Treatment in Sovereign Restructurings

07/07/19

Mitu Gulati & Mark Weidemaier

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Yannis Manuelides Paper on the Limits of the "Local Law Advantage" in Eurozone Sovereign Bonds

07/07/19

Sovereign debt guru and Allen & Overy partner, Yannis Manuelides has a new paper (here) out on the “local law advantage” in Euro area sovereign bonds.  This paper, along with Mark Weidemaier’s paper from the beginning of the summer (here – and a prior creditslips discussion about it

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Reparations Claims by the Herero and Nama Against Germany

06/30/19

About two years ago, in 2017, an intriguing lawsuit was filed under the Alien Tort Claims Act in New York. It was filed by members of the Herero and Nama tribes for the genocide of their ancestors that took place in what is now known as Namibia. In March this year, Judge Laura Taylor Swain, who readers of this blog may know from the Puerto Rican financial drama, ruled that the claims against Germany were barred by that nation’s right of sovereign immunity.

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PROMESA heads to the U.S. Supreme Court?

06/24/19

In February 2019, the United States Court of Appeals for First Circuit held that the selection process of the Oversight Board in PROMESA, the rather bipartisan Puerto Rico debt restructuring law (and more), is unconstitutional. The reason: its members were not selected with advice and consent of the Senate, in violation of the Appointments Clause.

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Round 2 -- Do the Euro CACs Have to be Used if There is a Need to Restructure a Euro Area Sovereign's Debt?

05/10/19

The intriguing question raised by Mark Weidemaier’s superb new paper posted a few weeks ago (here) was whether, if a Euro area country hits a debt crisis, it would be mandatory for it to use the Euro CACs that are now part of the majority of Euro area sovereign bonds.  Mark’s paper says no (for more, see also Tyler Zellinger, here; and Buchta, Shan, Plambeck & Shufro,

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DebtCon3: A Curtain Raiser and a Love Story

04/11/19

DebtCon3, the Third Interdisciplinary Sovereign Debt Research DebtconX

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