Sovereign Defaults Before International Courts and Tribunals
Sovereign Defaults Before International Courts and Tribunals

Author: Michael Waibel (Lawyer)

Publisher:

Published: 2011

Total Pages: 366

ISBN-13: 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 Defaults Before International Courts and Tribunals
Sovereign Defaults Before International Courts and Tribunals

Author: Michael Waibel (LL. M)

Publisher:

Published: 2011

Total Pages: 366

ISBN-13:

DOWNLOAD EBOOK

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 Defaults Before International Criminal Courts and Tribunals
Sovereign Defaults Before International Criminal Courts and Tribunals

Author: John A. E. Pottow

Publisher:

Published: 2015

Total Pages: 7

ISBN-13:

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This book review probes Michael Waibel's new book, Sovereign Defaults Before International Courts and Tribunals. Waibel's project is ambitious, exploring international attempts to address sovereign defaults over the past century and a half. Through painstaking and comprehensive historical analysis, Waibel shows how we've been here before -- a sober reminder for those thinking Argentina is simply part of a new fad in financial default. With the UN now turning its attention to sovereign debt issues, this study is especially timely. Although somewhat disappointing in the lightness of its normative content, the book should nevertheless prove helpful to those considering the role adjudicative tribunals (especially arbitral ones) might play in this current round of reform recommendations.

Sovereign Defaults before International Courts and Tribunals
Sovereign Defaults before International Courts and Tribunals

Author: Michael Waibel

Publisher: Cambridge University Press

Published: 2011-05-26

Total Pages: 429

ISBN-13: 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.

Sovereign Defaults Before Domestic Courts
Sovereign Defaults Before Domestic Courts

Author: Hayk Kupelyants

Publisher:

Published: 2018

Total Pages: 331

ISBN-13: 9780191844942

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"Sovereign defaults are perhaps unavoidable in the current international financial system. While efficient debt management practices and mechanisms for reducing overborrowing need to be concerived, it would border upon ignorance to shut one's eyes to the realities of soverign debt litigation. Active bondholders do not shun litigation, principallly before English and New York courts, ... . What the book seeks to achieve is to provide guidance on and fill the gaps in the many stages of sovereign debt litigation. Sovereign debt litigation is an area of law where much is yet to be discovered and where many rules are still inchoate. The entire practice of sovereign debt litigation is further confused by the fact tht sovereign defaults conflate issues of positive private law, public-law thinking, policy-fuelled reasoning, and emotional reactions. The task of any commercial judge hearing a sovereign debt dispute is all the more exacerbated by the lack of any sovereign insolvency regime proper."--Preface.

Sovereign Defaults in Court
Sovereign Defaults in Court

Author: Julian Schumacher

Publisher:

Published: 2018

Total Pages: 72

ISBN-13:

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For centuries, defaulting governments were immune from legal action by foreign creditors. This paper shows that this is no longer the case. Building a dataset covering four decades, we find that creditor lawsuits have become an increasingly common feature of sovereign debt markets. The legal developments have strengthened the hands of creditors and raised the cost of default for debtors. We show that legal disputes in the US and the UK disrupt government access to international capital markets, as foreign courts can impose a financial embargo on sovereigns. The findings are consistent with theoretical models with creditor sanctions and suggest that sovereign debt is becoming more enforceable. We discuss how the threat of litigation affects debt management, government willingness to pay, and the resolution of debt crises.

Evolution in Investment Treaty Law and Arbitration
Evolution in Investment Treaty Law and Arbitration

Author: Chester Brown

Publisher: Cambridge University Press

Published: 2011-11-17

Total Pages: 747

ISBN-13: 1139503618

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International investment law is in a state of evolution. With the advent of investor-State arbitration in the latter part of the twentieth century - and its exponential growth over the last decade - new levels of complexity, uncertainty and substantive expansion are emerging. States continue to enter into investment treaties and the number of investor-State arbitration claims continues to rise. At the same time, the various participants in investment treaty arbitration are faced with increasingly difficult issues concerning the fundamental character of the investment treaty regime, the role of the actors in international investment law, the new significance of procedure in the settlement of disputes and the emergence of cross-cutting issues. Bringing together established scholars and practitioners, as well as members of a new generation of international investment lawyers, this volume examines these developments and provides a balanced assessment of the challenges being faced in the field.