Sovereign Debt Management

Hardcover | January 23, 2014

EditorRosa Lastra, Lee Buchheit

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Sovereign debt is a complex and highly topical area of law and this work represents a new main reference book on the subject bringing together contributions from world leading practitioners, scholars and regulators.Divided into five parts the book opens with a part on restructuring which analyses contractual provisions and the role of institutions such as the International Monetary Fund. The second part, on enforcement, considers the position of a sovereign as a defendant analyzing the availability of specialimmunities and matters of defense and arbitration pertinent to sovereign debt.Part three of the book is concerned with complicating factors such as economic, political or banking crises and how these relate and complicate the task of addressing an unsustainable sovereign debt stock. In this section the particular and topical issues concerned with restructuring in a monetaryunion are explained. The fourth part provides economists' explanations of why and how sovereigns borrow and the causes of a sovereign debt, which enriches understanding by providing context to the purely legal aspects of the work. The book closes with a section which covers proposed reform to sovereign debt systems.Dedicated to the leading expert Lee Buchheit, this work contains comprehensive and rigorous analysis on sovereign debt management which no specialist should be without.

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Sovereign debt is a complex and highly topical area of law and this work represents a new main reference book on the subject bringing together contributions from world leading practitioners, scholars and regulators.Divided into five parts the book opens with a part on restructuring which analyses contractual provisions and the role of ...

Dr. Rosa Maria Lastra is Professor in International Financial and Monetary Law at the Centre for Commercial Law Studies (CCLS), Queen Mary, University of London. She is a member of Monetary Committee of the International Law Association (MOCOMILA), a founding member of the European Shadow Financial Regulatory Committee (ESFRC), a senio...

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Format:HardcoverDimensions:560 pages, 9.69 × 6.73 × 0.98 inPublished:January 23, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199671109

ISBN - 13:9780199671106

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Table of Contents

Part I - Sovereign Debt Restructuring1. Lee Buchheit and Elena Daly: Minimising Hold Out Creditors: Sticks2. Lee Buchheit and Elena Daly: Minimising Hold Out Creditors: Carrots3. Mitu Gulati, Jeromin Zettelmeyer and Christoph Trebesch: Manging Hold-outs: The case of the 2012 Greek Exchange4. Georges Affaki: Revisiting the pari passu clause5. Rosa Lastra: The Role of the IMF6. Thomas Duvall: Debt Relief for Low Income Countries7. Odette Lienau: The Longer Term Consequences of Sovereign Debt RestructuringPart II - Enforcement of Sovereign Debt8. Carmine D. Boccuzzi Jr.: Defences9. Thomas Baxter and David Gross: Special Immunities: Central Bank Immunity10. Diego Devos: Special Immunities: Bank for International Settlements11. Mark Weidemaier and Ryan McCarl: Creditor Remedies12. Karen Cross: Sovereign ArbitrationPart III - Complicating Factors13. Antonio Sainz de Vicuna: Restructuring in a Monetary Union: Legal Aspects14. Daniel Gros: Restructuring in a Monetary Union: Economic Aspects15. Anna Gelpern: Sovereign Debt and Baking Crises: An 'Arial View'16. Adam Lerrick: International Leader of Last Resort17. William Blair: Odious Debt18. Lee Buchheit and Mitu Gulati: Sovereign Contingent LiabilitesPart IV - Economics of Sovereign Borrowing19. Willem Buiter and Ebrahim Rahbari: Why Governments Default20. Gene Frieda: Sovereign Debt Markets21. Arturo Porzecanski: Borrowing and Debt: How sovereigns get into troublePart V - Proposals to Reform Sovereign Debt Systems22. Rodrigo Olivares Caminal: Statutory Sovereign Debt Resolution Mechanisms (SDRM)23. Sean Hagan: Debt Restructuring and Economic Recovery24. Philip Wood: Corporate Bankruptcy Law and State Insolvencies25. David Billington: European Collective Action Clauses26. Andrew Yianni: Euro Zone Financial Rescue and Stabilization Measures and their Legal Foundations27. Juan Pablo Bohoslavsky and Yuefen Li: UNCTAD Principles on Responsible Sovereign Financing28. Lee Buchheit: Sovereign Debt in the Light of Eternity