Collective action clauses and the restructuring of sovereign debt / edited by Klaus-Albert Bauer, Andreas Cahn, Patrick S. Kenadjian.

Format:

Book

Contributor:

Bauer, Klaus-Albert.

Cahn, Andreas.

Series:

Institute for law and finance series ; 12.

Institute for law and finance series ; volume 12

Language:

English

Subjects (All):

Debts, Public--Congresses.

Debts, Public.

Executions (Law)--Congresses.

Executions (Law).

Loans, Foreign--Law and legislation--Congresses.

Loans, Foreign.

Physical Description:

1 online resource (280 p.)

Edition:

1st ed.

Place of Publication:

Berlin : De Gruyter, [2013]

Language Note:

English

Summary:

The volume contains articles based on presentations given at a conference hosted by the Institute for Law and Finance of Goethe University on October 27, 2011. Collective action clauses are an example of the typical dichotomy of financial regulation: While the problems are economic in nature, the solutions need to be implemented by law. The Institute for Law and Finance strives to bring together law and finance in order to foster a better mutual understanding of both disciplines and to improve the regulation of financial markets. Thus, the organizers are particularly pleased that eminent experts from the fields of law and finance agreed to participate in the event and to share their views on and experiences with collective action clauses. The presentations given at the conference have been updated in 2012 to reflect recent developments.

Contents:

Front matter

Preface

Table of Contents

The Authors

Introduction

The Euro Area's Collective Action Clause - Some Questions and Answers / Bauer, Klaus-Albert

Private Sector Involvement in Sovereign Debt Restructuring: Model CACs for Europe

Identical Collective Action Clauses for different Legal Systems: A European Model / Sáinz de Vicuña y Barroso, Antonio

Towards a Level Playing Field / Happe, Claus-Michael

An Introduction to the Euro Area's Model Collective Action Clause / Sabel, David G.

Enfranchisement and Disenfranchisement in Collective Action Clauses / Hofmann, Christian

Collective Action Clauses and Litigation

Bondholder Resolutions in the Courtroom / Burn, Lachlan

Can Collective Action Clauses in Sovereign Bonds Limit Litigation Risks for States? / Kasolowsky, Boris / Miron, Smaranda

The Future of Sovereign Debt in Europe

CACs and the Restructuring of Sovereign Debt - How Would Markets React? / Wiesmann, Martin

The Aggregation Clause in Euro Area Government Securities: Game Changer or Flavor of the Month? - Background and the Greek Experience / Kenadjian, Patrick S.

Sovereign Debt Restructuring: Lessons from History / Kopf, Christian

A Resolvency Proceeding for Defaulting Sovereigns / Paulus, Christoph G.

Appendices

Appendix 1. Art. 12(3) ESM Treaty

Appendix 2. EFC Sub-Committee on EU Sovereign Debt Markets Model Collective Action Clause

Appendix 3. EFC Sub-Committee on EU Sovereign Debt Markets Supplemental Provisions to Model Collective Action Clause

Appendix 4. EFC Sub-Committee on EU Sovereign Debt Markets Model Collective Action Clause Supplemental Explanatory Note

Appendix 5. EFC Sub-Committee on EU Sovereign Debt Markets Draft Model Collective Action Clause (distributed for Comment in July 2012)

Appendix 6. EFC Sub-Committee on EU Sovereign Debt Markets Collective Action Clause Explanatory Note dated 26 July 2011

Notes:

Contains articles based on presentations given at a conference hosted by the Institute for Law and Finance of Goethe University on October 27, 2011.

Includes bibliographical references.

Description based on print version record.

ISBN:

9783110314526

3110314525

OCLC:

858762133