000			03074nam a22004218i 4500
001			CR9781009250054
003			UkCbUP
005			20240301142639.0
006			m|||||o||d||||||||
007			cr||||||||||||
008			220203s2022||||enk o ||1 0|eng|d
020			_a9781009250054 (ebook)
020			_z9781009250023 (hardback)
020			_z9781009250078 (paperback)
040			_aUkCbUP _beng _erda _cUkCbUP
050	0	0	_aK4448 _b.N35 2022
082	0	0	_a343/.037 _223/eng/20220729
100	1		_aNakajima, Kei, _d1983- _eauthor.
245	1	4	_aThe international law of sovereign debt dispute settlement / _cKei Nakajima, The University of Tokyo.
264		1	_aCambridge, United Kingdom ; New York, NY : _bCambridge University Press, _c2022.
300			_a1 online resource (xxx, 339 pages) : _bdigital, PDF file(s).
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
490	1		_aCambridge studies in international and comparative law
500			_aTitle from publisher's bibliographic system (viewed on 27 Sep 2022).
505	0		_aSetting the scene -- The emerging framework for sovereign debt discourse -- Sovereign immunities and other statutory mechanisms -- Collective Action Clauses (CACs) : contractual regulation of holdout litigation -- The Pari Passu Clause : regulating holdouts through injunctive relief -- Jurisdiction of arbitral tribunals over sovereign debt disputes -- Admissibility of sovereign bond claims : mass claims arbitration as a supplemental leverage over holdouts -- Checks and balances at the stage of merits.
520			_aThe first two decades of the twenty-first century witnessed a series of large-scale sovereign defaults and debt restructurings, in which sovereigns struggled to negotiate with recalcitrant bondholders, particularly hedge funds. Also, the outbreak of the COVID-19 pandemic in 2020 heralded a bleak financial outlook for many developing and emerging market countries, requiring sovereign debt restructuring in times of great macroeconomic uncertainty. Given the absence of a multilateral mechanism for sovereign debt restructuring equivalent to domestic corporate bankruptcy system, however, defaulted sovereigns often suffer from holdout litigation wrought by bondholders. This book proposes ways in which such legal actions could be regulated without the undue expense of bondholders' remedies by exploring the mechanism of balancing bondholder protection and respect for sovereign debt restructuring at various stages of litigation and arbitration proceedings.
650		0	_aDebts, Public _xLaw and legislation.
650		0	_aDebts, External _xLaw and legislation.
650		0	_aArbitration (International law)
650		0	_aDefault (Finance) _xLaw and legislation.
650		0	_aDebt relief.
650		0	_aDispute resolution (Law)
776	0	8	_iPrint version: _z9781009250023
830		0	_aCambridge studies in international and comparative law (Cambridge, England : 1996)
856	4	0	_uhttps://doi.org/10.1017/9781009250054
999			_c9819 _d9819