Author: Michael WaibelPublisher:
ISBN:
Category :
Languages : en
Pages : 366
Book Description
Sovereign Defaults Before International Courts and Tribunals
Author: Michael WaibelSovereign Defaults Before International Courts and Tribunals
Author: Michael Waibel (Lawyer)Publisher:
ISBN: 9781139069823
Category : Arbitration (International law)
Languages : en
Pages : 366
Book Description
"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
Author: Michael Waibel (LL. M)Publisher:
ISBN:
Category : Arbitration (International law)
Languages : en
Pages : 366
Book Description
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
Author: Michael WaibelPublisher: Cambridge University Press
ISBN: 1139496131
Category : Law
Languages : en
Pages : 429
Book Description
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
Author: John A. E. PottowPublisher:
ISBN:
Category :
Languages : en
Pages : 7
Book Description
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 Debt Before International Courts and Tribunals
Author: Michael Waibel (LL. M.)Publisher:
ISBN:
Category : Arbitration (International law)
Languages : en
Pages : 486
Book Description
Sovereign Defaults Before Domestic Courts
Author: Hayk KupelyantsPublisher:
ISBN: 9780191844942
Category : Debts, Public
Languages : en
Pages : 331
Book Description
"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
Author: Julian SchumacherPublisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 72
Book Description
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.
Provisional Measures before International Courts and Tribunals
Author: Cameron A. MilesPublisher: Cambridge University Press
ISBN: 1107125596
Category : Law
Languages : en
Pages : 591
Book Description
2 Dispute Settlement Under UNCLOS
International Investment Protection of Global Banking and Finance
Author: Arif H. AliPublisher: Kluwer Law International B.V.
ISBN: 9403535628
Category : Law
Languages : en
Pages : 616
Book Description
Global banking and finance is a complex and specialized field with sector-specific investment forms, subject to distinctive legal and regulatory frameworks and unique types of political risk. This comprehensive guide to international investment protection in the finance and banking sector, written by acknowledged experts in the field of investor-State arbitration, provides the first in-depth discussion of how international investment law applies to investors and investments in the sector. Featuring expert guidance on the key legal protections for cross-border banking and finance investments, with complete and up-to-date coverage of investor-State cases, the analysis crystallizes a set of field-specific legal principles for the sector. In particular, the authors address the following practical aspects of investment protection in the banking and finance sector: how sector-specific forms of investment, such as loans and derivatives, impact the dispute resolution process; types of political risk that cross-border investments in the sector are likely to encounter; distinctive adverse sovereign measures that underlie disputes in the sector, including those from sovereign debt defaults and banking sector bailouts; specific treaty provisions, such as jurisdictional carve-outs and targeted exclusions; remedies available for violations of international investment protections; how monetary damages may be assessed for injury to banking and finance sector investments; the scope of financial services chapters included in certain free trade agreements; the protections available under domestic foreign investment laws; and alternative sources of protection such as political risk insurance and investment contracts. International disputes practitioners and academics, in-house counsel in the finance and banking industries, and arbitrators addressing banking and finance disputes will welcome this book for its practical guidance. With strategies for investors as well as for sovereign States to navigate the intricacies of the investment protection system, the authors’ comprehensive analysis will help ensure appropriate international protection for banking and finance sector investments, both when establishing investments and when resolving disputes. The book lays the groundwork for the future consolidation of international investment protection as a critical tool to manage the political risk confronting global banking and finance.