Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

Enforcement Measures

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this chapter

+ Tax (if applicable)

Chapter Summary

The credibility of the reorganisation system for sovereign debt (RSSD) is closely connected with its ability to protect the parties against uncooperative behaviour by other parties and to enforce solutions obtained in the reorganisation process. Automatic standstill and rules providing for majority voting are valuable tools against disruptive litigation by creditors. However, these devices do not tackle the problem of uncooperative debtor behaviour. For instance, since Argentina defaulted on its debt in December 2001, private bondholders tried in vain, to negotiate a reasonable solution of the case. While Argentina is an example of a recalcitrant sovereign debtor, the problem is neither new, nor does it seem that likely that it will not occur in other sovereign debtor-creditor relations. This chapter therefore summarises the tools available under domestic private law as well as public international law to sanction such un-cooperative behaviour.

Keywords: domestic private law; private bondholders; public international law; recalcitrant sovereign debtor; reorganisation system for sovereign debt (RSSD); un-cooperative behaviour



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    Towards a Reorganisation System for Sovereign Debt — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation