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- Title
A Decade of Sovereign Debt Litigation: Lessons from the NML v Argentina Case and the Road Ahead.
- Authors
Araya, Tomás M.
- Abstract
The countless rulings in the NML et al v Republic of Argentina saga over this decade expose that domestic courts are ill-equipped to force a sovereign debtor to pay a financial obligation when a sovereign decides to shelter assets beyond the reach of creditors. To a certain extent, the case also confirms that sovereigns pay their debts because this is more beneficial to them than not paying, not because of court orders. This article describes the court's main decisions in the NML case and proposes a roadmap to settle the dispute in the coming months, now that a new administration has taken office in Argentina.
- Subjects
ARGENTINA; PUBLIC debts; NML Capital Ltd.; ACTION &; defense cases; LEGAL judgments; COURTS; ACTIONS &; defenses (Law)
- Publication
Business Law International, 2016, Vol 17, Issue 2, p83
- ISSN
1467-632X
- Publication type
Article