Intercreditor Equity in Sovereign Debt Restructuring

The question of intercreditor equity is a contentious issue in debt restructuring. This book explores whether intercreditor equity rules and the legal framework of sovereign debt are compatible with a debtor state's responsibility to ensure monetary and financial stability and establish sustainable debt burdens. It also examines how certain intercreditor equity rules constitute an obstacle to sustainable debt restructurings and highlights how the number of different intercreditor equity rules that a sovereign debtor state typically is bound by, as well as the scope of these rules, risk tightening the policy space of debtor states.

Format: Hardback
Length: 272 pages
Publication date: 10 March 2023
Publisher: Oxford University Press

The issue of intercreditor equity is a highly contentious aspect of debt restructuring, both historically and in contemporary times. Intercreditor Equity in Sovereign Debt Restructuring provides a comprehensive exploration of this topic, mapping and establishing the content of intercreditor equity rules and analyzing their impact on the restructuring process. In her work, Astrid Iversen aims to enhance our understanding of creditors' legal rights in the event of a debt restructuring and proposes strategies to improve the design of debt restructuring offers. Furthermore, Iversen seeks to shed light on the broader legal framework governing sovereign debt.

In this book, Iversen examines the compatibility of intercreditor equity rules and the legal framework of sovereign debt with a debtor state's responsibility to ensure monetary and financial stability and establish sustainable debt burdens. She also explores how certain intercreditor equity rules can hinder sustainable debt restructurings and highlights the risk of tightening the policy space of debtor states, making it challenging to design and implement effective debt restructuring strategies.

Suitable for readers new to the field of sovereign debt restructurings as well as debt management offices, creditors, and their legal professionals, this publication offers a comprehensive legal study of intercreditor equity rules in sovereign debt restructuring. It provides valuable insights into the complex dynamics of this area and assists in navigating the challenges associated with debt restructuring processes.

Weight: 538g
Dimension: 240 x 165 x 20 (mm)
ISBN-13: 9780192866905