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Connecting Sovereign Debt to Questions of Justice

Published online by Cambridge University Press:  18 May 2017

Odette Lienau*
Affiliation:
Cornell Law School

Abstract

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Type
Economizing Justice in Times of Debt and Austerity
Copyright
Copyright © American Society of International Law 2016

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References

1 The general themes of this section are drawn significantly from Odette Lienau, Rethinking Sovereign Debt: Politics, Reputation, and Legitimacy in Modern Finance (2014). For the discussion of different conceptions of sovereignty in sovereign debt, see especially id. at 1–7, 21–24, 34–52.

2 My comments on this question of the applicability of domestic insolvency draw from Odette Lienau, The Challenge of Legitimacy in Sovereign Debt Restructuring, 57 Harv. Int'l L.J. 151–214 (2016), esp. pp. 190–94.

3 See, e.g., Belgium's “Anti-Vulture Funds Law,” which was passed by the Belgian Parliament on July 12, 2015 and which entered into force on September 21, 2015. See also Natalia Drozdiak, Belgium to Block ‘Vulture’ Funds from Profiting on Government Debt, Wall Street J., June 9, 2015.

4 For a discussion of two recent cases, see, e.g., Damian S. Schaible & Darren S. Klein, Two New Cases Cast a Shadow Over Credit Bidding, N.Y. L.J. (June 23, 2014).