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Sovereign Defaults Before Domestic Courts by Kupelyants, Hayk (18th January 2018)

2 Contractual Background of Sovereign Debt Litigation

From: Sovereign Defaults Before Domestic Courts

Hayk Kupelyants

Subject(s):
Debt — Sovereign debt

Chapter 2 set out the panoply of collective action clauses found in sovereign debt documentation, and in particular majority action clauses which allow the majority of bondholders to modify the obligations of the State with binding effect on the minority of bondholders. Chapter 2 also examines other types of collective action clauses.

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