Venezuela’s Weird (and Possibly Mythical?) Prescription Clause
Mark Weidemaier & Mitu Gulati ... Read full article
News Topic: Sovereign Debt
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The "Necessity" Defense in Sovereign Debt Cases
My international debt class this week discussed the US Supreme Court’s gold clause decisions from 1935; and, in particular, US v. Perry . This is one of my favorite topics, in part because the events that occurred are so surprising to most students (as ... Read full article
Argentina’s Hundred-Year Bond and its Make-Whole Premium: A Spanner in the Works?
Argentina is on the brink of attempting a restructuring of its sovereign debt. And, of course, that has attracted the birds of prey. An article in Bloomberg a couple of days ago ( here ) reported that potential holdout creditors had hired expert lawyers ... Read full article
Buybacks as a Sovereign Debt Restructuring Strategy: Why the Disfavor?
The ideas in this post are drawn from work with Stephen Choi . Errors are mine. ... Read full article
A Cautionary Tale: Argentina’s Pari Passu Debt Debacle
Mark Weidemaier & Mitu Gulati ... Read full article
Hinrichsen on Iraq’s Debt Restructuring
Iraq’s debt restructuring a decade and a half ago was one of the few things that went right with the US incursion into that country in 2003. Thanks to a combination of an expensive war with Iran, mismanagement and corruption on the part of Saddam and his ... Read full article
Yadav on Dodgy Debt Buybacks
I’ve long been fascinated by debt buybacks by issuers, in large part because they seemed to occupy a loophole in the securities disclosure laws. A company could do a buyback of bonds and, because bondholders are not owed fiduciary duties by the company, ... Read full article
Sovereign Gold Bonds in 2019: Really?
Mark Weidemaier and Mitu Gulati ... Read full article
Dysfunctional Sovereign Debt Politics in Lebanon, Italy, and [Your Country Here]
Mark Weidemaier & Mitu Gulati Debt, like the full moon, is known to make politicians act strangely. There have been some good examples over the last few weeks, most recently in Lebanon and Italy. ... Read full article
Stupid Public Debt Tricks—The Alleged Seniority of Public Debt in Italy, the U.S., and Beyond
Mark Weidemaier & Mitu Gulati ... Read full article
Interpreting Argentina’s “Uniformly Applicable” Provision and Other Boilerplate
Mark Weidemaier & Mitu Gulati ... Read full article
Imagine Riding the Ceteris Pari-bus into the Sunset ... in Argentina
Imagine sovereign debt without Argentina -- no Paris Club , no pari passu , no CACs, no SDRM ... even sovereign immunity might look totally different. ... Read full article
Can Argentina Discriminate Against Bonds Issued Under Macri?
Mark Weidemaier and Mitu Gulati ... Read full article
Argentina’s [Insert Adjective Here] Debt Crisis
Mark Weidemaier & Mitu Gulati ... Read full article
Aurelius v. Puerto Rican Control Board (or "Do Activist Hedgies Add Value?")
This post draws considerably from research on Puerto Rico and its current constitutional status with Joseph Blocher (see here ). ... Read full article
A Mini Q&A on Venezuela’s Possible Defense to Foreclosure on the PDVSA 2020
Mark Weidemaier & Mitu Gulati ... Read full article
Can Creditors Seize CITGO? Enforcing the PDVSA 2020 Bond Collateral
Mark Weidemaier & Mitu Gulati ... Read full article
The Puzzling Pricing of Venezuelan Sovereign Bonds
by Mark Weidemaier & Mitu Gulati ... Read full article
Enough With the Old Chinese Debt Already
Mark Weidemaier and Mitu Gulati ... Read full article
Trump Wants to Buy Greenland for the U.S. – But Who Is the Relevant Seller?
( This post draws from my prior work with Joseph Blocher and the many conversations we have had about this topic over the years; he bears no responsibility for errors and sarcasm ) ... Read full article