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6 Defences to Repayment

From: Sovereign Defaults Before Domestic Courts

Hayk Kupelyants

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 27 November 2022

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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