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Debt Restructuring Sovereign Debt

White & Case LLP

Ukraine concludes historic restructuring of US$20.5 billion of international bonds

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On 3 September, 2024, Ukraine announced that it successfully concluded the restructuring of approximately US$20.5 billion of Ukraine's international bonds and the sovereign-guaranteed debt obligations of the State Agency for...more

Hogan Lovells

New York’s revised bill addressing sovereign debt – proposed change to current 9% interest rate

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New York State lawmakers this week proposed a revised champerty and sovereign debt bill (Senate Bill S5623/Assembly Bill A5290) that now includes changes to the current rate of interest provided by the New York Civil Practice...more

Proskauer Rose LLP

New York Legislature Proposes New Sovereign Debt Restructuring Bill

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The New York State Legislature recently proposed a bill, entitled the Sovereign Debt Stability Act, intended to facilitate sovereign debt restructuring. The bill, which could be brought to a vote as soon as May or June 2024,...more

White & Case LLP

New York’s Proposed “Sovereign Debt Stability Act”: An Overview

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Since 2021, the New York Legislature has considered a number of draft bills aimed at facilitating sovereign debt restructurings and helping distressed sovereign debtors obtain the debt relief they require. While the draft...more

Patterson Belknap Webb & Tyler LLP

Update on Sovereign Debt Restructurings

In 2023, the economies of some nations stagnated, but developing economies particularly struggled. As a new year commences, some of these countries will continue their efforts at restructuring their debts—a process that has...more

A&O Shearman

New York proposes sovereign debt restructuring legislation

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Legislators in the State of New York (NY), whose law governs many sovereign debt contracts, introduced three general categories of bills related to sovereign debt restructurings. The first is intended to provide support under...more

White & Case LLP

Climate Resilience as a Proposed New Feature of Sovereign Debt Instruments

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Climate factors' impact on a debtor's ability to honor its obligations has been recognized for over 4,000 years. It was the Code of Hammurabi in Mesopotamia that first mandated a deferral of principal repayment and...more

Proskauer Rose LLP

Russian Sanctions: How Will They Impact Credit Default Swaps? (Update)

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Economic sanctions against Russia as a result of the invasion of Ukraine have had a broad impact on the global economy and have raised the question of whether Russia will be able to meet its obligations on foreign denominated...more

White & Case LLP

Sovereign debt restructurings in Latin America: A new chapter

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Sovereign debt restructuring solutions developed in Latin America during 2020 and 2021 create a new paradigm for sovereign debt restructurings in the region and globally - Over the past 50 years, the Latin American and...more

Orrick, Herrington & Sutcliffe LLP

COVID19 and Debt Restructuring

Orrick’s Thomas Laryea, Lorraine McGowen and Nell Scott led a webinar on the impact of COVID-19 and sovereign debt restructuring, hosted by the Macroeconomic and Financial Management Institute of Eastern and Southern Africa...more

Jones Day

The Year in Bankruptcy: 2017

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The initial year of the Trump administration colored much of the political, business, and financial headlines of 2017, both in the U.S. and abroad. Key administration-related developments in 2017 included U.S. withdrawal from...more

Orrick, Herrington & Sutcliffe LLP

Venezuela Debt Restructuring – Sanctions Compliance

As parties pursue restructuring of Venezuelan sovereign debt, they should be sensitive to U.S. economic sanctions prohibitions. The sanctions prohibitions broadly apply to "U.S. persons" – U.S. citizens and permanent...more

Skadden, Arps, Slate, Meagher & Flom LLP

"A Question of Behavior: Foreign Sovereign Debt Restructuring Before US Courts"

The impact of Argentina's prolonged dispute with the holdouts of its defaulted debt continues to reverberate in the context of foreign sovereign debt restructuring. What has been called the "trial of the century" because of...more

Sheppard Mullin Richter & Hampton LLP

The fate of Argentina's debt restructuring is getting closer

In what the Financial Times has called “the sovereign debt restructuring case of the century,” Argentina has timely submitted its proposal as requested by the U.S. Court of Appeals for the Second Circuit, with which it is...more

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