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- Title
O PAPEL DAS AGGREGATED COLLECTIVE CLASS ACTION CLAUSES NOS PROCESSOS DE REESTRUTURAÇÃO DE DÍVIDA.
- Authors
MALAQUIAS, PEDRO FERREIRA; NOGUEIRA, JOSÉ ANTÓNIO REYMÃO
- Abstract
The concern for the failure of a significant part of sovereign debt restructuring in the last decades triggered an international effort to find solutions that would diminish and / or mitigate the different risks present in such processes, namely the more urgent risk - the holdout. In this regard, ICMA published in August 2014 a set of standard clauses, in order to prevent the holdout risk in sovereign debt. The present article aims to give some brief notes on each of the referred clauses, addressing their advantages and risks, as well as to anticipate their role in future debt restructuring.
- Subjects
PORTUGUESE economy; DEBT relief; CLASS action settlements; INTERNATIONAL Capital Market Association; CLAUSES (Law); TWENTY-first century
- Publication
Actualidad Jurídica (1578-956X), 2015, Issue 40, p127
- ISSN
1578-956X
- Publication type
Article