The International Law of Sovereign Debt Dispute Settlement

The International Law of Sovereign Debt Dispute Settlement
Author: Kei Nakajima
Publisher: Cambridge University Press
Total Pages: 381
Release: 2022-09-22
Genre: Business & Economics
ISBN: 1009250027

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This book fills the normative gap arising from the absence of a multilateral mechanism for sovereign debt restructuring.

Mediating Sovereign Debt Disputes

Mediating Sovereign Debt Disputes
Author: Calliope Makedon Sudborough
Publisher: Springer Nature
Total Pages: 188
Release: 2024-01-08
Genre: Law
ISBN: 3031467876

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This book provides a fresh perspective on resolving sovereign debt disputes within the investor-state mediation framework. In response to the limitations of traditional approaches to adjudicating public debt issues and the resulting gaps in international law concerning sovereign defaults, creditors have increasingly turned to investor-state treaty arbitrations to recover unpaid debts. However, this shift has raised numerous criticisms and concerns. Accordingly, this book explores the uncharted territory of utilizing mediation as a means to settle sovereign debt claims. It sheds light on the distinctive characteristics of mediation as a process, setting it apart from judicial litigation and private arbitration, and emphasizing the unique outcomes it can generate. The central argument of this book is that mediation should be seriously considered as a viable option for resolving sovereign debt disputes. Not only does it offer a more cost-effective and expeditious approach, but it also has the potential to facilitate economic recovery and sustain continued investment.

Sovereign Defaults before International Courts and Tribunals

Sovereign Defaults before International Courts and Tribunals
Author: Michael Waibel
Publisher: Cambridge University Press
Total Pages: 429
Release: 2011-05-26
Genre: Law
ISBN: 1139496131

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International law on sovereign defaults is underdeveloped because States have largely refrained from adjudicating disputes arising out of public debt. The looming new wave of sovereign defaults is likely to shift dispute resolution away from national courts to international tribunals and transform the current regime for restructuring sovereign debt. Michael Waibel assesses how international tribunals balance creditor claims and sovereign capacity to pay across time. The history of adjudicating sovereign defaults internationally over the last 150 years offers a rich repository of experience for future cases: US state defaults, quasi-receiverships in the Dominican Republic and Ottoman Empire, the Venezuela Preferential Case, the Soviet repudiation in 1917, the League of Nations, the World War Foreign Debt Commission, Germany's 30-year restructuring after 1918 and ICSID arbitration on Argentina's default in 2001. The remarkable continuity in international practice and jurisprudence suggests avenues for building durable institutions capable of resolving future sovereign defaults.

The Private-Public Law Divide in International Dispute Resolution

The Private-Public Law Divide in International Dispute Resolution
Author: Burkhard Hess
Publisher: BRILL
Total Pages: 336
Release: 2018-08-21
Genre: Law
ISBN: 9004384901

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This course addresses dispute resolution in international cases from the classical perspective of the private-public divide. The main focus relates to overlapping remedies available under private international and public international law. Nowadays, a multitude of courts and arbitral tribunals at different levels (domestic, international and transnational) is accessible to litigants in cross-border settings.

Sovereign Defaults Before International Courts and Tribunals

Sovereign Defaults Before International Courts and Tribunals
Author: Michael Waibel (Lawyer)
Publisher:
Total Pages: 366
Release: 2011
Genre: Arbitration (International law)
ISBN: 9781139069823

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"International law on sovereign defaults is underdeveloped because States have largely refrained from adjudicating disputes arising out of public debt. The looming new wave of sovereign defaults is likely to shift dispute resolution away from national courts to international tribunals and transform the current regime for restructuring sovereign debt. Michael Waibel assesses how international tribunals balance creditor claims and sovereign capacity to pay across time. The history of adjudicating sovereign defaults internationally over the last 150 years offers a rich repository of experience for future cases: US state defaults, quasi-receiverships in the Dominican Republic and Ottoman Empire, the Venezuela Preferential Case, the Soviet repudiation in 1917, the League of Nations, the World War Foreign Debt Commission, Germany's 30-year restructuring after 1918 and ICSID arbitration on Argentina's default in 2001. The remarkable continuity in international practice and jurisprudence suggests avenues for building durable institutions capable of resolving future sovereign defaults"--

Sovereign Financing and International Law

Sovereign Financing and International Law
Author: Carlos Espósito
Publisher: OUP Oxford
Total Pages: 1681
Release: 2013-10-03
Genre: Law
ISBN: 0191656119

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The regulation of sovereign financing is a highly topical and significant issue, in the light of continuing global financial turmoil. This book assesses the role of international law in sovereign financing, addressing this issue from both legal and economic standpoints. It takes as a starting point the recent report 'Principles on Responsible Sovereign Lending and Borrowing' by the United Nations Conference on Trade and Development (UNCTAD). This report was endorsed by the United Nations General Assembly in its December 2011 Resolution on Debt, which emphasized the need for creditors and debtors to share responsibility for preventing unsustainable debt situations and encouraged all stakeholders to pursue the ongoing discussions within the framework of the UNCTAD Initiative. Investigating the legal and economic basis for the principles which were articulated in the report, the book develops a detailed and nuanced analysis of the controversial and complex issues they raise, including those concerning finance and credit rating agencies, contingent liabilities, debt management, corruption, fiduciary relations and duties, Collective Action Clauses, and the role of the EU and UN. Ultimately, it argues that the principles elaborated in the report correspond with general principles of international law, which provide a strong, pre-existing foundation upon which to build responsible principles for sovereign financing.

International Dispute Settlement

International Dispute Settlement
Author: MaryEllen O'Connell
Publisher: Routledge
Total Pages: 552
Release: 2017-07-05
Genre: History
ISBN: 1351562487

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The very purpose of international law is the peaceful settlement of international disputes. Over centuries, states and more recently, organizations have created substantive rules and principles, as well as affiliated procedures, in the pursuit of the peaceful settlement of disputes. This volume of the Library of Essays in International Law focuses on the classic procedures of peaceful settlement: negotiation, good offices, inquiry, conciliation, arbitration, judicial settlement, and agencies for dispute resolution. The introduction provides a unique historic overview, explaining how the procedures first developed and changed over time. Each chapter features a seminal essay that helped create the changes described in the introduction. Being at the center of international law, dispute resolution has always been a core topic of international scholarship, this volume brings together for the first time, the pivotal writing in the field.

The Doctrine of Odious Debt in International Law

The Doctrine of Odious Debt in International Law
Author: Jeff King
Publisher: Cambridge University Press
Total Pages: 249
Release: 2016-05-26
Genre: Business & Economics
ISBN: 1107128013

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This book outlines how odious debts are not legally binding under international or domestic law, contrary to widely held legal opinion.

Sovereign Bond Disputes Caseload

Sovereign Bond Disputes Caseload
Author: Tomas D. Rodriguez Correa (LL.M. int. Heidelberg Universität)
Publisher:
Total Pages: 31
Release: 2018
Genre:
ISBN:

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This article is part of the master thesis “Dispute Settlement after Sovereign Debt Defaults: A Forum Menu for Holdout Creditors”. The article analyses issues that holdout creditors should take into account when initiating arbitral proceedings before an international investment tribunal, particularly under the International Centre for Settlement of Investment Disputes rules. The article also analyses aspects of financial law, mainly by examining hypothetical situations where treaty shopping can be executed through International Central Securities Depositories such as Euroclear and Clearstream. The article provides an objective analysis of the main pros and cons of resolving sovereign debt disputes before investment tribunals. Finally, the article demonstrates that bondholders who have acquired their bonds in the secondary market should not go before ICSID looking for full enforcement of sovereign bonds' terms, as the compensation awarded might be considerably limited, having regard only to the bonds' market value.

International Law and Dispute Settlement

International Law and Dispute Settlement
Author: Duncan French
Publisher: Bloomsbury Publishing
Total Pages: 444
Release: 2010-03-04
Genre: Law
ISBN: 1847315666

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International dispute settlement plays a fundamental role in maintaining the fabric of the international legal order, reflecting the desire of States, and increasingly non-State actors, to resolve their differences through international dispute procedures and other legal mechanisms. This edited collection focuses upon the growth and complexity of such legal methods, which includes judicial settlement (courts and tribunals), arbitration and other legal (or what might be termed 'extra-legal') means (international organisations, committees, inspection panels, and ombudsmen). In this important collection, such mechanisms are compared and evaluated side-by-side to provide, in one volume, a detailed and analytical account of the current framework. Ranging from key conceptual issues of proliferation of legal mechanisms and the associated risks of fragmentation through to innovations in dispute settlement mechanisms in many topical areas of international law, including international trade law, collective security law and regional law, this collection, written by leading international lawyers, provides a major study in the ongoing trends and emerging problems in this crucial area of international law. This edited collection is published to mark the retirement of Professor John Merrills, Emeritus Professor of International Law, University of Sheffield, who has written widely on international law and human rights law, but is probably best known for his work on the settlement of international disputes, evidenced by the enduring appeal of his leading text International Dispute Settlement, now in its fourth edition.