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International Economic Law
Sovereign Debt
Sovereign Debt Restructuring in relation with International Law
A. Legal Instruments International Convention for the Unification of Certain Rules concerning the Immunity of State-owned Vessels, Brussels, 10 April 1926, League of Nations, Treaty Series, vol. 176, p. 199. Convention for the Protection of Human Rights and Fundamental Freedoms, Rome, 4 November 1950, United Nations, Treaty Series, vol. 213, p. 221. Vienna Convention on Diplomatic Relations, Vienna, 18 April 1961, United Nations, Treaty Series, vol. 500, p. 95. United Nations Convention on the Law of the Sea, Montego Bay, 10 December 1982, United Nations, Treaty Series, vol. 1833, p. 3. United Nations Convention on Jurisdictional Immunities of States and Their Property, New York, 2 December 2004. Convention on the Recognition and Enforcement of Foreign Judgments in Civil and Commercial Matters, The Hague, 2 July 2019. B. Jurisprudence United States Supreme Court, Schooner Exchange v. McFaddon, 11 US 116, 1812. United States District Court for the Southern District of New York, Elliott Associates, LP v. Republic of Peru, 12 F. Supp. 2d 328, 1998. International Tribunal for the Law of the Sea, “ARA Libertad” (Argentina v. Ghana), Provisional Measures, Order of 15 December 2012, ITLOS Reports 2012, p. 332. European Court of Human Rights,Mamatas and Others v. Greece, Application nos. 63066/14, 64297/14 and 66106/14, Judgment of 21 July 2016. C. Documents International Capital Market Association, Standard Collective Action Clauses, Pari Passu and Creditor Engagement Provisions for the Terms and Conditions of Sovereign Notes, 2014 and 2015. General Assembly Resolution 69/319 of 10 September 2015 (Basic Principles on Sovereign Debt Restructuring Processes). Human Rights Council Advisory Committee, Report on the Activities of Vulture Funds and the Impact on Human Rights (requested by Resolution 27/30 of the Human Rights Council), UN doc. A/HRC/33/54, 20 July 2016. International Monetary Fund, The G20 Debt Service Suspension Initiative (DSSI) and The G20 Common Framework for Debt Treatments beyond the DSSI, 2020. D. Doctrine Bohoslavsky, J. P., and M. Goldmann, “An Incremental Approach to Sovereign Debt Restructuring: Sovereign Debt Sustainability as a Principle of Public International Law”, Yale Journal of International Law, vol. 41, 2016, pp. 13 et seq. Gelpern, A., “Sovereign Debt: Now What?”, Yale Journal of International Law, vol. 41, 2016, pp. 45 et seq. Goldmann, M., “Public and Private Authority in a Global Setting: The Example of Sovereign Debt Restructuring”, Indiana Journal of Global Legal Studies, vol. 25, 2018, pp. 331 et seq. Guzman, M., and J. E. Stiglitz, “Creating a Framework for Sovereign Debt Restructuring that Works”, in M. Guzman, J. A. Ocampo and J. E. Stiglitz (eds.), Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises, New York, Columbia University Press, 2016, pp. 3 et seq. Guzman, M., and J. E. Stiglitz, “A Soft Law Mechanism for Sovereign Debt Restructuring: Based on the UN Principles”, in I. Bantekas and C. Lumina (eds.), Sovereign Debt and Human Rights, Oxford, Oxford University Press, 2018, pp. 446 et seq. Kelly, A., “Flight of the Condors: The Impact of Vulture Investors on Argentina’s Sovereign Debt default”, Florida Journal of International Law, vol. 30, 2018, pp. 27 et seq. Lienau, O., “Legitimacy and Impartiality as Basic Principles for Sovereign Debt Restructuring”, Yale Journal of International Law, vol. 41, 2016, pp. 97 et seq. Nichols, B. W., “The Impact of the Foreign Sovereign Immunities Act on the Enforcement of Lenders’ Remedies”, University of Illinois Law Review, vol. 1, 1982, pp. 252 et seq. Oyarzábal, M.J.A., “The Influence of Public International Law upon private International Law in History and Theory and in the Formation and Application of the Law”, Recueil des cours, vol. 428, 2023, pp. 379 et seq. Waibel, M., Sovereign Defaults before International Courts and Tribunals, Cambridge, Cambridge University Press, 2011. E. Other Documents Hague Conference on Private International Law, Explanatory Report by Francisco Garcimartín and Geneviève Saumier of the Convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil and Commercial Matters, 2020. La Reestructuración de la deuda Soberana en Relación con el Derecho Internacional A. Instruments Jurídicos Convención Internacional para la Unificación de ciertas Reglas relativas a las Inmunidades de los Buques del Estado, Bruselas, 10 de abril de 1926, Liga de las Naciones, Serie de Tratados, vol. 176, p. 199. Convenio para la Protección de los Derechos Humanos y de las Libertades Fundamentales, Roma, 4 de noviembre de 1950, Naciones Unidas, Serie de Tratados, vol. 213, p. 221. Convención de Viena sobre Relaciones Diplomáticas, Viena, 18 de abril de 1961, Naciones Unidas, Serie de Tratados, vol. 500, p. 95. Convención de las Naciones Unidas sobre el Derecho del Mar, Montego Bay, 10 de diciembre de 1982, Naciones Unidas, Serie de Tratados, vol. 1833, p. 3. Convención de las Naciones Unidas sobre las Inmunidades Jurisdiccionales de los Estados y de sus Bienes, Nueva York, 2 de diciembre de 2004. Convención sobre el Reconocimiento y la Ejecución de Sentencias Extranjeras en Materia Civil y Comercial, La Haya, 2 de julio de 2019. B. Jurisprudencia Corte Suprema de Estados Unidos,Schooner Exchange v. McFaddon, 11 US 116, 1812. Estados Unidos Tribunal del Distrito Sur de Nueva York,Elliott Associates, LP v. Republic of Peru, 12 F. Supp. 2d 328, 1998. Tribunal Internacional del Derecho del Mar, “ARA Libertad” (Argentina c. Ghana), Solicitud de Prescripción de Medidas Provisionales, Decisión del 15 de diciembre de 2012, ITLOS Reports 2012, p. 332. Tribunal Europeo de Derechos Humanos, Mamatas and Others v. Greece, nos. 63066/14, 64297/14 y 66106/14, sentencia del 21 de julio de 2016. C. Documentos Asociación Internacional del Mercado de Capitales, Standard Collective Action Clauses, Pari Passu and Creditor Engagement Provisions for the Terms and Conditions of Sovereign Notes, 2014 y 2015. Resolución de la Asamblea General 69/319 de 10 de septiembre de 2015 (Principios Básicos de los Procesos de Reestructuración de Deuda Soberana). Comité Asesor del Consejo de Derechos Humanos, Informe sobre las actividades de los fondos buitre y sus repercusiones en los derechos humanos(solicitado por Resolución 27/30 del Consejo de Derechos Humanos), UN doc. A/HRC/33/54, 20 de julio de 2016. Fondo Monetario Internacional, Iniciativa de Suspensión del Servicio de la Deuda (DSSI) y Marco Común del G-20 para el Tratamiento de la Deuda más allá de DSSI, 2020. D. Doctrina Bohoslavsky, J. P., y M. Goldmann, “An Incremental Approach to Sovereign Debt Restructuring: Sovereign Debt Sustainability as a Principle of Public International Law”, Yale Journal of International Law, vol. 41, 2016, pp. 13 et seq. Gelpern, A., “Sovereign Debt: Now What?”, Yale Journal of International Law, vol. 41, 2016, pp. 45 et seq. Goldmann, M., “Public and Private Authority in a Global Setting: The Example of Sovereign Debt Restructuring”, Indiana Journal of Global Legal Studies, vol. 25, 2018, pp. 331 et seq. Guzman, M., y J. E. Stiglitz, “Creating a Framework for Sovereign Debt Restructuring that Works”, in M. Guzman, J. A. Ocampo and J. E. Stiglitz (eds.), Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises, New York, Columbia University Press, 2016, pp. 3 et seq. Guzman, M., y J. E. Stiglitz , “A Soft Law Mechanism for Sovereign Debt Restructuring: Based on the UN Principles”, in I. Bantekas and C. Lumina (eds.), Sovereign Debt and Human Rights, Oxford, Oxford University Press, 2018, pp. 446 et seq. Kelly, A., “Flight of the Condors: The Impact of Vulture Investors on Argentina’s Sovereign Debt default”, Florida Journal of International Law, vol. 30, 2018, pp. 27 et seq. Lienau, O., “Legitimacy and Impartiality as Basic Principles for Sovereign Debt Restructuring”, Yale Journal of International Law, vol. 41, 2016, pp. 97 et seq. Nichols, B. W., “The Impact of the Foreign Sovereign Immunities Act on the Enforcement of Lenders’ Remedies”, University of Illinois Law Review, vol. 1, 1982, pp. 252 et seq. Oyarzábal, M.J.A., “The Influence of Public International Law upon private International Law in History and Theory and in the Formation and Application of the Law”, Recueil des cours, vol. 428, 2023, pp. 379 et seq. Waibel, M., Sovereign Defaults before International Courts and Tribunals, Cambridge, Cambridge University Press, 2011. E. Otros Documentos Conferencia de La Haya de Derecho Internacional Privado, Informe Explicativo de Francisco Garcimartín y Geneviève Saumier de la Convención sobre el Reconocimiento y la Ejecución de Sentencias Extranjeras en Materia Civil y Comercial, 2020.
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