Legal Aspects of Sovereign Debt Restructuring provides a legal analysis of the problems with sovereign debt along with a toolkit to deal with these problems. It:-
Discusses the concepts of how to restructure sovereign debt
Structured to cover the two key areas: the procedural aspects and the transactional aspects
Takes you through the logical sequence of steps a creditor has to consider before suing the sovereign
Shows how a successful judgment can be enforced
Covers the theoretical framework on sovereign debt restructures, including how syndicated loans were restructured into international bonds and the challenges involved
Describes the current decentralised market-oriented approach as opposed to the centralised, statutorily, non-market oriented approach of the "Sovereign Debt Restructuring Mechanism" proposed by the IMF and Rule 23 of the US Federal Rules of Civil Procedure
Gives examples of successful cases demonstrating bond restructurings in Russia, Ukraine, Pakistan, Ecuador, Uruguay, Argentina, Belize and Grenada
Presents the law according to English and US systems, with reference to the norms of other jurisdictions such as Argentina, Australia, Belgium, EU, Germany, Japan and Luxembourg where necessary
Features a workflow diagram
Covers all the relevant areas of the law in one publication
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