News Topic: Sovereign Debt

Today, the U.S. Court of Appeals for the Third Circuit affirmed the order allowing jilted Canadian mining company Crystallex to attach PDVSA's equity stake in PDV-Holding (the corporate parent of CITGO). Here's the unanimous opinion . ... Read full article

Mitu Gulati & Mark Weidemaier The two of us are beginning a project to build a dataset of foreign currency sovereign bonds and their contract terms. The dataset of bond issuances has a conspicuous absence: India. ... Read full article

Mark Weidemaier & Mitu Gulati ... Read full article

Mark Weidemaier and Mitu Gulati ... Read full article

Mitu Gulati & Mark Weidemaier ... Read full article

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 ... Read full article

Mark Weidemaier & Mitu Gulati ... Read full article

Mark Weidemaier & Mitu Gulati ... Read full article

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 ... Read full article

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 ... Read full article

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 ... Read full article

Mark Weidemaier & Mitu Gulati ... Read full article

DebtCon3 , the Third Interdisciplinary Sovereign Debt Research ... Read full article

As many will have seen in the press , the First Circuit has said that PROMESA's Oversight Board was appointed in violation of the Appointments Clause . ... Read full article

Mitu Gulati and Mark Weidemaier ... Read full article

Mark Weidemaier and Mitu Gulati A few days ago , we wondered why the U.S. government had constrained U.S. holders of PDVSA debt instruments to sell only to non-U.S. parties. The constraint would likely kill liquidity for these bonds and impose losses on ... Read full article

Mitu Gulati and Mark Weidemaier ... Read full article

Mark Weidemaier & Mitu Gulati Many things about the current situation in Venezuela bewilder us. Among them are parts of the new sanctions.  The one that especially puzzles us is the part that says that transfers of PDVSA debt claims by US persons are ... Read full article