Sovereign Insolvency
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Sovereign Insolvency
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Author : Gerald G. Sander
language : en
Publisher: Springer
Release Date : 2016-02-07
Sovereign Insolvency written by Gerald G. Sander and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-07 with Law categories.
The regulation of sovereign debts raises many complex economic and legal questions. The primary objective of this volume is to focus on the possible legal solutions for the challenges facing the insolvent states. Finding a way out of the sovereign debt crisis requires not only economic considerations, but it implies also a better understanding of the rage of different social and ethical aspects associated with this problem.
Sovereign Insolvency An Essay On State Bankruptcy
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Author : Jukka Kilpi
language : en
Publisher: Kapaibooks
Release Date : 2020-11-24
Sovereign Insolvency An Essay On State Bankruptcy written by Jukka Kilpi and has been published by Kapaibooks this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-24 with Business & Economics categories.
Sovereign Insolvency examines the ethical issues that arise from state bankruptcy. Are states bound by any moral obligation to pay their debts and how sovereign insolvencies should be treated? Now we are seeing an unprecedented piling up of sovereign debt and issuing of electronic money by central banks. To be exact, the scale of public debt is not entirely unprecedented. Individual states have been more heavily indebted, and their central banks have financed the deficits even more liberally than what is going on now on a global scale. However, we have never before seen a pandemic of growing public debt funded by central banks. In the case of an individual state establishing its fiscal policy on the central bank’s note printing the historical outcome has been pretty straightforward: economic unrest and instability, often state bankruptcy. Will history repeat itself on a global scale? What are the ethical implications of state bankruptcy?
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.
Sovereign Debt Crises
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Author : Juan Pablo Bohoslavsky
language : en
Publisher: Cambridge University Press
Release Date : 2017-11-02
Sovereign Debt Crises written by Juan Pablo Bohoslavsky and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-02 with Business & Economics categories.
Contributes to a better understanding of the policy, economic, and legal options of countries struggling with debt problems.
Sovereign Default Risk Valuation
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Author : Jochen Andritzky
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-11-23
Sovereign Default Risk Valuation written by Jochen Andritzky and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-23 with Business & Economics categories.
Past cycles of sovereign lending and default suggest that debt crises will recur at some point. This book shows why investors should reckon with similar credit events in the future. Surveying the sovereign bond market, the author provides investors with a useful toolkit for analyzing sovereign bonds and foreseeing trends in the international financial architecture. The result should be a better understanding of debt crises and more deliberate investment decisions.
Towards A Reorganisation System For Sovereign Debt
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Author : Holger Schier
language : en
Publisher: Martinus Nijhoff Publishers
Release Date : 2007
Towards A Reorganisation System For Sovereign Debt written by Holger Schier and has been published by Martinus Nijhoff Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Law categories.
The insolvency of sovereign debtors is a virtually timeless phenomenon and yet the existing international financial architecture does not provide any legal framework to deal with this issue. Following an overview of the main proposals as to how to bridge this gap, this study analyses the extent to which public international law can be used as a source for the establishment of a reorganisation system for sovereign debt. While there is no adequate customary international law relating to sovereign insolvencies, reference can instead be made to the growing body of general principles of law. This is illustrated by a comparison of the systems of corporate financial reorganisation in insolvency in six representatively selected countries - Argentina, England, France, Germany, Indonesia and the U.S. Due to the inherent lack of enforceability with regard to sovereign debtors, in order to be able to provide a basis for a reorganisation system for sovereign debt, these principles need to be complemented with a compliance control mechanism. This study suggests how such a system could be constructed and implemented.
Structuring And Restructuring Sovereign Debt
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Author : Mr.Patrick Bolton
language : en
Publisher: International Monetary Fund
Release Date : 2007-08-01
Structuring And Restructuring Sovereign Debt 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 2007-08-01 with Business & Economics categories.
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the likelihood of repayment by making their claims more difficult to restructure ex post. We show however, that competition for repayment among lenders may result in a sovereign debt that is excessively difficult to restructure in equilibrium. This inefficiency may be alleviated by a suitably designed bankruptcy regime that facilitates debt restructuring.
The Resolution Of Sovereign Debt Crises
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Author : Jeannette Abel
language : en
Publisher:
Release Date : 2019
The Resolution Of Sovereign Debt Crises written by Jeannette Abel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Bankruptcy categories.
The insolvency of states is by no means a rare or new phenomenon. Despite this, it still seems to be widely felt that states do not go bankrupt. As of yet, there are no regulated insolvency proceedings for states. This book examines the current mechanisms for solving sovereign debt crises. It presents an analysis of their weaknesses and shows possibilities for dealing with such crises in the future. In this respect, the work focusses on crisis resolution measures at European level: the aid packages for Greece, the European Financial Stabilisation Mechanism, the European Financial Stabilisation Facility and the European Stability Mechanism. These are examined for their appropriateness as well as whether they contain elements of insolvency law. Ultimately, it explores possible insolvency proceedings for states at EU level and their implementation options
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.
Sovereign Insolvency
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Author : Nadia I. Hadjova
language : en
Publisher:
Release Date : 2003
Sovereign Insolvency written by Nadia I. Hadjova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Bankruptcy categories.