- Debt — Sovereign debt
Chapter 6 addresses the range of substantive defences that the sovereign debtor may raise against the repayment of the debt. The chapter argues for full repayment of sovereign debt, unless one or more legal defences can be raised against repayment. The defences discussed include the following: act of State, prescription, champerty, odious debt, capacity to issue bonds, capacity to repay, frustration, counterclaims and so on.
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