Sovereign Debt Restructuring under International Investment Agreement: The Legal Issues and Policy Suggestions
Date Issued
2014
Date
2014
Author(s)
Chan, Kai-Wei
Abstract
Sovereign Debt Restructuring (SDR) is an effective and important mechanism to solve sovereign debt default problems. However, due to lack of an international regulation or dispute settlement mechanism for foreign bondholders, the bondholders have no effective methods for seeking compensation under the sovereign debt restructuring process.
After two cases, Abaclat and others v. Argentina Republic and Ambiente Ufficio S.p.A. and others v. Argentine Republic have attracted much attention in the application of international investment arbitration in sovereign debt restructuring. Can “International Investment Agreement” provide the dispute settlement mechanism for the foreign bondholders? Furthermore, can “International Investment Agreement” solve the problem which of lacking comprehensive mechanism of sovereign debt restructuring?
To find the answers of those questions, the dissertation will discuss the complex and controversial relationship between the international investment agreement and the sovereign debt restructuring. And try to provide the policy suggestions of this controversial problem.
Subjects
主權債務重整
國際投資條約
主權債務重整機制
集體行動條款
主權債務違約
Type
thesis
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