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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Goode on Commercial Law

Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Sovereign Debt and Debt Restructuring: Legal, Financial and Regulatory Aspects

Edited by: Eugenio A. Bruno

ISBN13: 9781905783991
Published: April 2013
Publisher: Globe Law and Business
Country of Publication: UK
Format: Hardback
Price: £150.00

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Sovereign Debt Restructuring: Legal, Financial and Regulatory Aspects is a major new work addressing many of the significant issues related to the management and restructuring of sovereign debt. It provides lessons for future credit events affecting the whole range of sovereign debt financial participants, transactions and instruments.

Written by leading practitioners and renowned academics, this title provides in-depth analysis of aspects of the intersection between the recent financial crisis in Europe and the law, litigation and practice of selected key international jurisdictions - mainly the United States, Europe and certain international arbitration tribunals.

In particular, the book examines the main sovereign financial restructurings that have arisen in recent years; the road ahead for the countries most affected, such as Ireland, Portugal and Greece; sovereign debt litigation over the last 15 years; the analysis and application of derivatives involving sovereign debt; and the role of the arbitration tribunals in claims arising from unpaid sovereign debt.

This authoritative title provides legal practitioners, academics, financial agents, financial institution officers, investment analysts and managers, investors and officials of regulatory agencies with the information they need to navigate their way through the challenges arising from one of the most complex areas of the international financial markets.

Banking and Finance
Part I: Fundamentals
Fundamentals of sovereign debt

Part II: The governments, the markets, the IMF and the rating agencies
State of the markets
The Greek case: a local perspective
Behind the Greek default and restructuring of 2012

Part III: Sovereign debt litigation
The US Foreign Sovereign
Immunities Act and debt restructuring cases against sovereigns
Judicial cases against sovereign countries before Argentina
Defence after default: US court proceedings against foreign sovereigns
Current trends in investment arbitration related to sovereign bond defaults
Sovereigns before international courts
Individual versus collective enforcement rights in sovereign bonds

Part IV: How to restructure
Different approaches and alternatives
Serial defaults, military and diplomatic conflicts to new debt crises and reform of the international financial framework
Russia, Ecuador, Pakistan, Ukraine, Dominican Republic, Uruguay and Argentina
Lessons for Europe:
The pre-emptive restructuring of Uruguay

Part V: Derivatives and sovereign debt
Credit derivatives and sovereign debt
Credit derivatives andthe sovereign debt restructuring process

Part VI: The road ahead
Pari Passu and Sovereign Debt Restructuring
The ultimate state of sovereign debt;