Bankruptcy Procedures For Sovereigns
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Bankruptcy Procedures For Sovereigns
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Author : Kenneth Rogoff
language : en
Publisher: International Monetary Fund
Release Date : 2002-08
Bankruptcy Procedures For Sovereigns written by Kenneth Rogoff and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-08 with Business & Economics categories.
This paper describes the evolution of ideas to apply bankruptcy reorganization principles to sovereign debt crises. Our focus is on policy proposals between the late 1970s and Anne Krueger's (2001) proposed "Sovereign Debt-Restructuring Mechanism," with brief reference to the economics literature on sovereign debt. We describe the perceived inefficiencies that motivate proposals, and how proposals seek to change debtor and creditor incentives. We find that there has been a moving concensus on what constitutes the underlying problem, but not on how to fix it. The range of proposed approaches remains broad and only recently shows some signs of narrowing.
Bankruptcy Proceedings For Sovereign State Insolvency
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Author : Jonathan Thomas
language : en
Publisher:
Release Date : 2004
Bankruptcy Proceedings For Sovereign State Insolvency written by Jonathan Thomas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
This paper examines the main issues involved in translating domestic bankruptcy procedures to the sovereign context. It considers some of the principles by which domestic bankruptcy procedures operate, and the extent to which they apply to international lending. Two recent proposals are considered in more detail, that of Krueger (A New Approach to Sovereign Debt Restructuring) and that of Pettifor (ch. 9/11, Resolving International Debt Crises - the Jubilee Framework for International Insolvency). The paper also considers the question of the ex ante effects of a procedure which makes default less costly, and concludes that despite a negative impact on the ability to borrow, the overall welfare effect need not be negative.
Early Ideas On Sovereign Bankruptcy Reorganization
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Author : Mr.Kenneth Rogoff
language : en
Publisher: International Monetary Fund
Release Date : 2002-03-01
Early Ideas On Sovereign Bankruptcy Reorganization written by Mr.Kenneth Rogoff and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-03-01 with Business & Economics categories.
This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization procedures at the international level. We focus on actual proposals for new procedures made from the late 1970s up to an influential lecture by Sachs (1995), with brief reference to the formal economics literature on sovereign debt. Beginning with a paper by Oechsli (1981), several key contributions are made during this period, including the analogy with domestic bankruptcy procedures, an understanding of the inefficiencies in international lending that might justify such procedures, and specific institutional and legal suggestions that continue to play a role in the current debate.
Toward A Statutory Approach To Sovereign Debt Restructuring
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Author : Mr.Patrick Bolton
language : en
Publisher: International Monetary Fund
Release Date : 2003-01-01
Toward A Statutory Approach To Sovereign Debt Restructuring written by Mr.Patrick Bolton and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Business & Economics categories.
This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization institutions: a stay on debt collection efforts to prevent a costly run for the assets, broad enforcement of absolute priority, majority voting among creditors on the proposed reorganization plan, and new higher priority financing to keep the firm going while its liabilities are restructured. The paper argues that these components ought to be present in any sovereign debt restructuring procedure.
A Debt Restructuring Mechanism For Sovereigns
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Author : Christoph G Paulus
language : en
Publisher: Bloomsbury Publishing
Release Date : 2014-12-01
A Debt Restructuring Mechanism For Sovereigns written by Christoph G Paulus and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-01 with Law categories.
The Eurozone crisis which started in spring 2010 as a Greek budget crisis has alerted Europeans that the issue of defaulting sovereigns is not one reserved just for the poor and poorest countries on this globe. The crisis painfully amplified that developed countries, too, might be hit by this phenomenon. To be sure, this insight is far from novel - the history of defaulting states reaches back into history for at least two millennia. And yet, lawyers have surprisingly abstained more or less completely from discussing this subject and developing possible solutions. Beginning with the Argentina crisis in 2001, this neglect began to vanish to a certain degree and this movement got some momentum in 2010 by the Eurozone crisis. The present book collects contributions from authors most of whom have participated in a conference on this issue in January 2012 at the Humboldt-Universität zu Berlin. The presentations, thus, provide a unique overview of the present discussion both from an economic and legal perspective.
Early Ideas On Sovereign Bankruptcy Reorganization
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Author : Kenneth Rogoff
language : en
Publisher:
Release Date : 2006
Early Ideas On Sovereign Bankruptcy Reorganization written by Kenneth Rogoff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization procedures at the international level. We focus on actual proposals for new procedures made from the late 1970s up to an influential lecture by Sachs (1995), with brief reference to the formal economics literature on sovereign debt. Beginning with a paper by Oechsli (1981), several key contributions are made during this period, including the analogy with domestic bankruptcy procedures, an understanding of the inefficiencies in international lending that might justify such procedures, and specific institutional and legal suggestions that continue to play a role in the current debate.
Sovereign Debt Restructuring The Role And Limits Of Public International Law E Book
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Author : VITERBO ANNAMARIA
language : it
Publisher: G Giappichelli Editore
Release Date : 2020-06-09
Sovereign Debt Restructuring The Role And Limits Of Public International Law E Book written by VITERBO ANNAMARIA and has been published by G Giappichelli Editore this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-09 with Law categories.
Sovereign Financing And International Law
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Author : Carlos Espósito
language : en
Publisher: Oxford University Press
Release Date : 2013-10
Sovereign Financing And International Law written by Carlos Espósito and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10 with Business & Economics categories.
In response to continuing global financial turmoil, the UN Conference for Trade and Development has produced a set of principles to govern future sovereign financing. This book expands on these principles from a legal and economic perspective to analyse how sovereign financing can be regulated to prevent similar debt crises from occurring again.
The Law Of International Insolvencies And Debt Restructurings
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Author : James R. Silkenat (jurist.)
language : en
Publisher:
Release Date : 2006
The Law Of International Insolvencies And Debt Restructurings written by James R. Silkenat (jurist.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
During the past several years, there have been an unprecedented number of insolvencies and restructurings of multinational corporations, both inside and outside of traditional bankruptcy proceedings. The Law of International Insolvencies and Debt Restructurings is the first treatise to analyze the newly created doctrines of law and procedure that have developed as insolvencies and restructurings have become increasingly international in character and now frequently involve the laws of numerous jurisdictions. Leading attorneys address developments in bankruptcy and insolvency laws in the countries that have become the focal points for legal proceedings, including the United States, Mexico, England, Spain, Italy, Argentina, Brazil, China, France, Japan, and Canada. Essential topics in the law of international restructuring and insolvency are also explored in depth, including national legislation and procedures, treaties and cooperation agreements, sovereign debt litigation, and inter-creditor relationships. Coverage includes: - Methods of restructuring multinational corporate and sovereign debt - Judicial bankruptcy proceedings - Rights of creditors - Jurisdiction and venue - European Council Regulations - Choice of Law - Dispute resolution - Access by foreign parties to U.S. bankruptcy courts
Default And Rescheduling
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Author : Euromoney Publications Ltd
language : en
Publisher:
Release Date : 1984
Default And Rescheduling written by Euromoney Publications Ltd and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business & Economics categories.