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Conclusion

from Part II - Regulation through Treaty and Arbitration

Published online by Cambridge University Press:  15 September 2022

Kei Nakajima
Affiliation:
University of Tokyo
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Summary

This study has pursued a balance between bondholder protection and respect for sovereign debt restructuring at various stages of litigation and arbitration proceedings. An appropriate balance inevitably depends on the context and circumstances of specific cases and cannot, by its nature, be articulated in a precise manner. Instead, the present study has pursued a framework within which an appropriate balance may be explored and attained in specific cases. Such a framework is constructed by applicable contract, statutory and treaty provisions to be interpreted in a manner that certain deference is paid to debtor sovereigns’ policy decision-making during debt restructuring and that the chance of checks and balances by courts or tribunals is ensured.

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Publisher: Cambridge University Press
Print publication year: 2022

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  • Conclusion
  • Kei Nakajima, University of Tokyo
  • Book: The International Law of Sovereign Debt Dispute Settlement
  • Online publication: 15 September 2022
  • Chapter DOI: https://doi.org/10.1017/9781009250054.015
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  • Conclusion
  • Kei Nakajima, University of Tokyo
  • Book: The International Law of Sovereign Debt Dispute Settlement
  • Online publication: 15 September 2022
  • Chapter DOI: https://doi.org/10.1017/9781009250054.015
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Conclusion
  • Kei Nakajima, University of Tokyo
  • Book: The International Law of Sovereign Debt Dispute Settlement
  • Online publication: 15 September 2022
  • Chapter DOI: https://doi.org/10.1017/9781009250054.015
Available formats
×