Sovereign defaults before International courts and tribunals / Michael Waibel.

Format:

Book

Author/Creator:

Waibel, Michael (Lawyer), author.

Series:

Cambridge studies in international and comparative law (Cambridge, England : 1996) ; 81.

Cambridge studies in international and comparative law ; 81

Language:

English

Subjects (All):

Debts, Public--Law and legislation.

Debts, Public.

Debts, External--Law and legislation.

Debts, External.

Arbitration (International law).

International courts.

Physical Description:

1 online resource (lvi, 366 pages) : digital, PDF file(s).

Other Title:

Sovereign Defaults before International Courts & Tribunals

Place of Publication:

Cambridge : Cambridge University Press, 2011.

System Details:

text file

PDF

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.

Contents:

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

Arbitration on sovereign debt

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 adjudicating sovereign defaults.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Other Format:

Print version:

ISBN:

9780511974922

Access Restriction:

Restricted for use by site license.