Sovereign defaults before International courts and tribunals / Michael Waibel.
2011
K4448 .W35 2011 (Mapit)
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Details
Author
Title
Sovereign defaults before International courts and tribunals / Michael Waibel.
Imprint
Cambridge ; New York : Cambridge University Press, 2011.
Description
lvi, 366 pages : illustrations ; 24 cm.
Series
Cambridge studies in international and comparative law (Cambridge, England : 1996) ; 81.
Formatted Contents Note
Sovereign debt crises and defaults
Political responses to sovereign defaults
Quasi-receivership of highly indebted countries
Monetary reform and sovereign debt
Financial necessity
National settlement institutions
State succession and the capacity to pay
Arbitration clauses in sovereign debt instruments
Creditor protection in international law
ICSID arbitration on sovereign debt
Overlapping jurisdiction over sovereign debt
Sovereign default as trigger of responsibility
Compensation on sovereign debt
Building durable institutions for the international adjudicating of sovereign debt.
Political responses to sovereign defaults
Quasi-receivership of highly indebted countries
Monetary reform and sovereign debt
Financial necessity
National settlement institutions
State succession and the capacity to pay
Arbitration clauses in sovereign debt instruments
Creditor protection in international law
ICSID arbitration on sovereign debt
Overlapping jurisdiction over sovereign debt
Sovereign default as trigger of responsibility
Compensation on sovereign debt
Building durable institutions for the international adjudicating of sovereign debt.
Summary
"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"-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references (pages 330-349) and index.
Available Note
Also available online.
Location
STA
Linked Resources
Call Number
K4448 .W35 2011
Language
English
ISBN
9780521196994 hardback
052119699X hardback
9780511974922 ebook
052119699X hardback
9780511974922 ebook
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