Timeline for What are the guarantees that international debt will be paid back ever?
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5 events
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| May 2, 2023 at 16:16 | comment | added | 264 champagne bottles on ice | @Relaxed: Yeah, most of the time in the 20th century it didn't work like this, although there is a recent trend to try to make it happen politics.stackexchange.com/questions/78333/… | |
| Nov 28, 2014 at 23:14 | comment | added | user45891 | @Relaxed yes Argentine is unusual - however it is an example where people are trying to get back international debt owed to them. I think I've made a distinction between courts and arbitration courts - feel free to edit to emphasis that further. I actually wasn't sure whether only debt issued over Government bond is in the scope of this question so I just decided to add arbitration to my answer - for the layman that is some form of debt and proper legal advise is beyond my capabilities. | |
| Nov 28, 2014 at 23:10 | comment | added | Relaxed | Incidentally, arbitration has to be accepted by both parties, which is exactly the opposite of what happened with Elliott and Argentina. Argentina strenuously denied that the NY judge was even competent to hear the case but it was hit by a court decision, not an arbitral decision. | |
| Nov 28, 2014 at 23:04 | comment | added | Relaxed | The Argentina case is a very unusual one, rooted in Argentina's earlier difficulties (which led it to accept rather unusual conditions in the first place) and many states objected to the approach taken by US courts in this matter. Neither the 1958 convention nor the International Court of Arbitration are specifically intended to deal sovereign debt or automatically apply to it. Obviously hedge funds will try to get everything they can from the US legal system but all this hardly amounts to a framework to force states to pay their debt in general. | |
| Nov 28, 2014 at 22:46 | history | answered | user45891 | CC BY-SA 3.0 |