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Publisher: Oxford University Press   (Total: 370 journals)

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Adaptation     Hybrid Journal   (Followers: 8, SJR: 0.111, h-index: 4)
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American Entomologist     Full-text available via subscription   (Followers: 6)
American Historical Review     Hybrid Journal   (Followers: 131, SJR: 0.652, h-index: 43)
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Aristotelian Society Supplementary Volume     Hybrid Journal   (Followers: 2, SJR: 0.102, h-index: 20)
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Bioscience Horizons : The National Undergraduate Research J.     Open Access   (Followers: 1, SJR: 0.213, h-index: 9)
Biostatistics     Hybrid Journal   (Followers: 16, SJR: 1.955, h-index: 55)
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Brain     Hybrid Journal   (Followers: 60, SJR: 6.097, h-index: 264)
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Briefings in Functional Genomics     Hybrid Journal   (Followers: 4, SJR: 1.771, h-index: 50)
British J. for the Philosophy of Science     Hybrid Journal   (Followers: 34, SJR: 1.267, h-index: 38)
British J. of Aesthetics     Hybrid Journal   (Followers: 25, SJR: 0.217, h-index: 18)
British J. of Criminology     Hybrid Journal   (Followers: 522, SJR: 1.373, h-index: 62)
British J. of Social Work     Hybrid Journal   (Followers: 82, SJR: 0.771, h-index: 53)
British Medical Bulletin     Hybrid Journal   (Followers: 7, SJR: 1.391, h-index: 84)
British Yearbook of Intl. Law     Hybrid Journal   (Followers: 27)
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Cambridge J. of Economics     Hybrid Journal   (Followers: 58, SJR: 0.957, h-index: 59)
Cambridge J. of Regions, Economy and Society     Hybrid Journal   (Followers: 11, SJR: 1.067, h-index: 22)
Cambridge Quarterly     Hybrid Journal   (Followers: 11, SJR: 0.1, h-index: 7)
Capital Markets Law J.     Hybrid Journal  
Carcinogenesis     Hybrid Journal   (Followers: 2, SJR: 2.439, h-index: 167)
Cardiovascular Research     Hybrid Journal   (Followers: 11, SJR: 2.897, h-index: 175)
Cerebral Cortex     Hybrid Journal   (Followers: 40, SJR: 4.827, h-index: 192)
CESifo Economic Studies     Hybrid Journal   (Followers: 16, SJR: 0.501, h-index: 19)
Chemical Senses     Hybrid Journal   (Followers: 1, SJR: 1.436, h-index: 76)
Children and Schools     Hybrid Journal   (Followers: 6, SJR: 0.211, h-index: 18)
Chinese J. of Comparative Law     Hybrid Journal   (Followers: 3)
Chinese J. of Intl. Law     Hybrid Journal   (Followers: 21, SJR: 0.737, h-index: 11)
Chinese J. of Intl. Politics     Hybrid Journal   (Followers: 8, SJR: 1.238, h-index: 15)
Christian Bioethics: Non-Ecumenical Studies in Medical Morality     Hybrid Journal   (Followers: 11, SJR: 0.191, h-index: 8)
Classical Receptions J.     Hybrid Journal   (Followers: 19, SJR: 0.1, h-index: 3)
Clinical Infectious Diseases     Hybrid Journal   (Followers: 58, SJR: 4.742, h-index: 261)
Clinical Kidney J.     Open Access   (Followers: 4, SJR: 0.338, h-index: 19)
Community Development J.     Hybrid Journal   (Followers: 24, SJR: 0.47, h-index: 28)
Computer J.     Hybrid Journal   (Followers: 7, SJR: 0.371, h-index: 47)
Conservation Physiology     Open Access   (Followers: 2)
Contemporary Women's Writing     Hybrid Journal   (Followers: 11, SJR: 0.111, h-index: 3)
Contributions to Political Economy     Hybrid Journal   (Followers: 6, SJR: 0.313, h-index: 10)
Critical Values     Full-text available via subscription  
Current Legal Problems     Hybrid Journal   (Followers: 26)
Current Zoology     Full-text available via subscription   (SJR: 0.999, h-index: 20)
Database : The J. of Biological Databases and Curation     Open Access   (Followers: 11, SJR: 1.068, h-index: 24)
Digital Scholarship in the Humanities     Hybrid Journal   (Followers: 12)
Diplomatic History     Hybrid Journal   (Followers: 18, SJR: 0.296, h-index: 22)
DNA Research     Open Access   (Followers: 4, SJR: 2.42, h-index: 77)
Dynamics and Statistics of the Climate System     Open Access   (Followers: 3)
Early Music     Hybrid Journal   (Followers: 14, SJR: 0.124, h-index: 11)
Economic Policy     Hybrid Journal   (Followers: 59, SJR: 2.052, h-index: 52)
ELT J.     Hybrid Journal   (Followers: 25, SJR: 1.26, h-index: 23)
English Historical Review     Hybrid Journal   (Followers: 48, SJR: 0.311, h-index: 10)
English: J. of the English Association     Hybrid Journal   (Followers: 13, SJR: 0.144, h-index: 3)
Environmental Entomology     Full-text available via subscription   (Followers: 11, SJR: 0.791, h-index: 66)
Environmental Epigenetics     Open Access   (Followers: 1)
Environmental History     Hybrid Journal   (Followers: 26, SJR: 0.197, h-index: 25)
EP-Europace     Hybrid Journal   (Followers: 2, SJR: 2.201, h-index: 71)
Epidemiologic Reviews     Hybrid Journal   (Followers: 10, SJR: 3.917, h-index: 81)
ESHRE Monographs     Hybrid Journal  
Essays in Criticism     Hybrid Journal   (Followers: 16, SJR: 0.1, h-index: 6)
European Heart J.     Hybrid Journal   (Followers: 49, SJR: 6.997, h-index: 227)
European Heart J. - Cardiovascular Imaging     Hybrid Journal   (Followers: 9, SJR: 2.044, h-index: 58)
European Heart J. - Cardiovascular Pharmacotherapy     Full-text available via subscription   (Followers: 1)
European Heart J. - Quality of Care and Clinical Outcomes     Hybrid Journal  
European Heart J. Supplements     Hybrid Journal   (Followers: 8, SJR: 0.152, h-index: 31)
European J. of Cardio-Thoracic Surgery     Hybrid Journal   (Followers: 8, SJR: 1.568, h-index: 104)
European J. of Intl. Law     Hybrid Journal   (Followers: 152, SJR: 0.722, h-index: 38)
European J. of Orthodontics     Hybrid Journal   (Followers: 4, SJR: 1.09, h-index: 60)
European J. of Public Health     Hybrid Journal   (Followers: 22, SJR: 1.284, h-index: 64)
European Review of Agricultural Economics     Hybrid Journal   (Followers: 12, SJR: 1.549, h-index: 42)
European Review of Economic History     Hybrid Journal   (Followers: 28, SJR: 0.628, h-index: 24)
European Sociological Review     Hybrid Journal   (Followers: 40, SJR: 2.061, h-index: 53)
Evolution, Medicine, and Public Health     Open Access   (Followers: 11)
Family Practice     Hybrid Journal   (Followers: 11, SJR: 1.048, h-index: 77)
Fems Microbiology Ecology     Hybrid Journal   (Followers: 8, SJR: 1.687, h-index: 115)
Fems Microbiology Letters     Hybrid Journal   (Followers: 20, SJR: 1.126, h-index: 118)
Fems Microbiology Reviews     Hybrid Journal   (Followers: 25, SJR: 7.587, h-index: 150)
Fems Yeast Research     Hybrid Journal   (Followers: 13, SJR: 1.213, h-index: 66)
Foreign Policy Analysis     Hybrid Journal   (Followers: 21, SJR: 0.859, h-index: 10)
Forestry: An Intl. J. of Forest Research     Hybrid Journal   (Followers: 16, SJR: 0.903, h-index: 44)
Forum for Modern Language Studies     Hybrid Journal   (Followers: 6, SJR: 0.108, h-index: 6)
French History     Hybrid Journal   (Followers: 31, SJR: 0.123, h-index: 10)
French Studies     Hybrid Journal   (Followers: 19, SJR: 0.119, h-index: 7)
French Studies Bulletin     Hybrid Journal   (Followers: 10, SJR: 0.102, h-index: 3)
Gastroenterology Report     Open Access   (Followers: 2)
Genome Biology and Evolution     Open Access   (Followers: 9, SJR: 3.22, h-index: 39)
Geophysical J. Intl.     Hybrid Journal   (Followers: 34, SJR: 1.839, h-index: 119)
German History     Hybrid Journal   (Followers: 25, SJR: 0.437, h-index: 13)
GigaScience     Open Access   (Followers: 3)
Global Summitry     Hybrid Journal  
Glycobiology     Hybrid Journal   (Followers: 14, SJR: 1.692, h-index: 101)
Health and Social Work     Hybrid Journal   (Followers: 48, SJR: 0.505, h-index: 40)
Health Education Research     Hybrid Journal   (Followers: 12, SJR: 0.814, h-index: 80)
Health Policy and Planning     Hybrid Journal   (Followers: 19, SJR: 1.628, h-index: 66)
Health Promotion Intl.     Hybrid Journal   (Followers: 21, SJR: 0.664, h-index: 60)
History Workshop J.     Hybrid Journal   (Followers: 26, SJR: 0.313, h-index: 20)
Holocaust and Genocide Studies     Hybrid Journal   (Followers: 23, SJR: 0.115, h-index: 13)
Human Molecular Genetics     Hybrid Journal   (Followers: 9, SJR: 4.288, h-index: 233)
Human Reproduction     Hybrid Journal   (Followers: 78, SJR: 2.271, h-index: 179)
Human Reproduction Update     Hybrid Journal   (Followers: 18, SJR: 4.678, h-index: 128)
Human Rights Law Review     Hybrid Journal   (Followers: 59, SJR: 0.7, h-index: 21)
ICES J. of Marine Science: J. du Conseil     Hybrid Journal   (Followers: 53, SJR: 1.233, h-index: 88)
ICSID Review     Hybrid Journal   (Followers: 9)
ILAR J.     Hybrid Journal   (Followers: 1, SJR: 1.099, h-index: 51)
IMA J. of Applied Mathematics     Hybrid Journal   (SJR: 0.329, h-index: 26)
IMA J. of Management Mathematics     Hybrid Journal   (Followers: 2, SJR: 0.351, h-index: 20)
IMA J. of Mathematical Control and Information     Hybrid Journal   (Followers: 2, SJR: 0.661, h-index: 28)
IMA J. of Numerical Analysis - advance access     Hybrid Journal   (SJR: 2.032, h-index: 44)
Industrial and Corporate Change     Hybrid Journal   (Followers: 8, SJR: 1.37, h-index: 81)
Industrial Law J.     Hybrid Journal   (Followers: 29, SJR: 0.184, h-index: 15)
Information and Inference     Free  
Integrative and Comparative Biology     Hybrid Journal   (Followers: 8, SJR: 1.911, h-index: 90)
Interacting with Computers     Hybrid Journal   (Followers: 10, SJR: 0.529, h-index: 59)
Interactive CardioVascular and Thoracic Surgery     Hybrid Journal   (Followers: 5, SJR: 0.743, h-index: 35)
Intl. Affairs     Hybrid Journal   (Followers: 51, SJR: 1.264, h-index: 53)
Intl. Data Privacy Law     Hybrid Journal   (Followers: 28)
Intl. Health     Hybrid Journal   (Followers: 5, SJR: 0.835, h-index: 15)
Intl. Immunology     Hybrid Journal   (Followers: 3, SJR: 1.613, h-index: 111)
Intl. J. for Quality in Health Care     Hybrid Journal   (Followers: 32, SJR: 1.593, h-index: 69)
Intl. J. of Constitutional Law     Hybrid Journal   (Followers: 59, SJR: 0.613, h-index: 19)
Intl. J. of Epidemiology     Hybrid Journal   (Followers: 137, SJR: 4.381, h-index: 145)
Intl. J. of Law and Information Technology     Hybrid Journal   (Followers: 4, SJR: 0.247, h-index: 8)
Intl. J. of Law, Policy and the Family     Hybrid Journal   (Followers: 28, SJR: 0.307, h-index: 15)
Intl. J. of Lexicography     Hybrid Journal   (Followers: 8, SJR: 0.404, h-index: 18)
Intl. J. of Low-Carbon Technologies     Open Access   (Followers: 1, SJR: 0.457, h-index: 12)
Intl. J. of Neuropsychopharmacology     Open Access   (Followers: 3, SJR: 1.69, h-index: 79)
Intl. J. of Public Opinion Research     Hybrid Journal   (Followers: 8, SJR: 0.906, h-index: 33)
Intl. J. of Refugee Law     Hybrid Journal   (Followers: 32, SJR: 0.231, h-index: 21)
Intl. J. of Transitional Justice     Hybrid Journal   (Followers: 13, SJR: 0.833, h-index: 12)
Intl. Mathematics Research Notices     Hybrid Journal   (Followers: 1, SJR: 2.052, h-index: 42)
Intl. Political Sociology     Hybrid Journal   (Followers: 31, SJR: 1.339, h-index: 19)
Intl. Relations of the Asia-Pacific     Hybrid Journal   (Followers: 17, SJR: 0.539, h-index: 17)
Intl. Studies Perspectives     Hybrid Journal   (Followers: 7, SJR: 0.998, h-index: 28)
Intl. Studies Quarterly     Hybrid Journal   (Followers: 38, SJR: 2.184, h-index: 68)
Intl. Studies Review     Hybrid Journal   (Followers: 18, SJR: 0.783, h-index: 38)
ISLE: Interdisciplinary Studies in Literature and Environment     Hybrid Journal   (Followers: 1, SJR: 0.155, h-index: 4)
ITNOW     Hybrid Journal   (Followers: 2, SJR: 0.102, h-index: 4)
J. of African Economies     Hybrid Journal   (Followers: 15, SJR: 0.647, h-index: 30)
J. of American History     Hybrid Journal   (Followers: 40, SJR: 0.286, h-index: 34)
J. of Analytical Toxicology     Hybrid Journal   (Followers: 13, SJR: 1.038, h-index: 60)
J. of Antimicrobial Chemotherapy     Hybrid Journal   (Followers: 12, SJR: 2.157, h-index: 149)
J. of Antitrust Enforcement     Hybrid Journal   (Followers: 1)
J. of Applied Poultry Research     Hybrid Journal   (Followers: 3, SJR: 0.563, h-index: 43)
J. of Biochemistry     Hybrid Journal   (Followers: 43, SJR: 1.341, h-index: 96)
J. of Chromatographic Science     Hybrid Journal   (Followers: 16, SJR: 0.448, h-index: 42)
J. of Church and State     Hybrid Journal   (Followers: 11, SJR: 0.167, h-index: 11)
J. of Competition Law and Economics     Hybrid Journal   (Followers: 34, SJR: 0.442, h-index: 16)
J. of Complex Networks     Hybrid Journal   (Followers: 1, SJR: 1.165, h-index: 5)
J. of Conflict and Security Law     Hybrid Journal   (Followers: 12, SJR: 0.196, h-index: 15)
J. of Consumer Research     Full-text available via subscription   (Followers: 41, SJR: 4.896, h-index: 121)
J. of Crohn's and Colitis     Hybrid Journal   (Followers: 9, SJR: 1.543, h-index: 37)
J. of Cybersecurity     Hybrid Journal   (Followers: 3)
J. of Deaf Studies and Deaf Education     Hybrid Journal   (Followers: 8, SJR: 0.69, h-index: 36)
J. of Design History     Hybrid Journal   (Followers: 15, SJR: 0.166, h-index: 14)
J. of Economic Entomology     Full-text available via subscription   (Followers: 6, SJR: 0.894, h-index: 76)
J. of Economic Geography     Hybrid Journal   (Followers: 39, SJR: 2.909, h-index: 69)
J. of Environmental Law     Hybrid Journal   (Followers: 23, SJR: 0.457, h-index: 20)
J. of European Competition Law & Practice     Hybrid Journal   (Followers: 18)
J. of Experimental Botany     Hybrid Journal   (Followers: 14, SJR: 2.798, h-index: 163)
J. of Financial Econometrics     Hybrid Journal   (Followers: 21, SJR: 1.314, h-index: 27)
J. of Global Security Studies     Hybrid Journal   (Followers: 3)
J. of Heredity     Hybrid Journal   (Followers: 4, SJR: 1.024, h-index: 76)
J. of Hindu Studies     Hybrid Journal   (Followers: 7, SJR: 0.186, h-index: 3)
J. of Hip Preservation Surgery     Open Access  
J. of Human Rights Practice     Hybrid Journal   (Followers: 20, SJR: 0.399, h-index: 10)
J. of Infectious Diseases     Hybrid Journal   (Followers: 40, SJR: 4, h-index: 209)
J. of Insect Science     Open Access   (Followers: 9, SJR: 0.388, h-index: 31)

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Journal Cover Capital Markets Law Journal
  [0 followers]  Follow
    
   Hybrid Journal Hybrid journal (It can contain Open Access articles)
   ISSN (Print) 1750-7219 - ISSN (Online) 1750-7227
   Published by Oxford University Press Homepage  [370 journals]
  • Capital Markets Law Journal - Front Cover
    • PubDate: 2017-07-13
      DOI: 10.1093/cmlj/kmx006
      Issue No: Vol. 12, No. 2 (2017)
       
  • Capital Markets Law Journal - Editorial Board
    • PubDate: 2017-07-13
      DOI: 10.1093/cmlj/kmx005
      Issue No: Vol. 12, No. 2 (2017)
       
  • Volume 12 Number 2 April 2017 Capital Markets Law Journal - Contents
    • Abstract: https://academic.oup.com/cmlj
      PubDate: 2017-07-13
      DOI: 10.1093/cmlj/kmx008
      Issue No: Vol. 12, No. 2 (2017)
       
  • Subscriptions Information
    • PubDate: 2017-07-13
      DOI: 10.1093/cmlj/kmx007
      Issue No: Vol. 12, No. 2 (2017)
       
  • Editors’ Note
    • Authors: Gulati M.
      Pages: 123 - 124
      Abstract: The Capital Markets Law Journal last year celebrated its 10th anniversary. Better still, it has been growing in readership, citations and the quality of submissions. In order to celebrate this anniversary the editors discussed the possibility of doing a special issue; specifically, an ‘all star’ issue with a combination of the most eminent and interesting voices from practice, policy land and academia. This issue is the outcome of those discussions; it takes as its focus sovereign debt, one of the fields in which CMLJ has been consistently on the cutting edge.
      PubDate: 2017-04-22
      DOI: 10.1093/cmlj/kmx026
      Issue No: Vol. 12, No. 2 (2017)
       
  • GDP-linked bonds: a commentary on a termsheet
    • Authors: Manuelides Y.
      Pages: 125 - 140
      Abstract: Key pointsThis article considers the major policy considerations for a GDP-linked bond and some of the challenges in designing an instrument which can address these considerations by focusing on the key provisions of the most recent version of the London Termsheet.The commentary in this article first summarizes some of the policy considerations. Then the payment flows and challenges of using GDP as a reference variable are considered.The article continues with a discussion of the key legal features which could set GDP-linked bonds as a different class to that of fixed-rate bonds and considers the implications. It ends by listing the current work streams.
      PubDate: 2017-04-21
      DOI: 10.1093/cmlj/kmx024
      Issue No: Vol. 12, No. 2 (2017)
       
  • Market reactions to sovereign litigation
    • Authors: Ahmed FZ; Alfaro L.
      Pages: 141 - 163
      Abstract: Key pointsRecent rulings in the ongoing litigation over the pari passu clause in Argentinian sovereign debt instruments have generated considerable controversy. Some official sector participants and academic articles have suggested that the rulings will disrupt or impede future sovereign debt restructurings by encouraging holdout creditors to litigate for full payment instead of participating in negotiated exchange offers.This article critically examines this claim by evaluating market reactions to litigation using an event study methodology. It analyses the effect on sovereign bonds from litigation events, with particular emphasis on Argentina for the period, 1993–2014.The article finds evidence that the market reacts differently to Argentina than to other countries.
      PubDate: 2017-04-12
      DOI: 10.1093/cmlj/kmx017
      Issue No: Vol. 12, No. 2 (2017)
       
  • The definition of indebtedness and the consequent imperilling of the pari
           passu , negative pledge and cross-default clauses in sovereign debt
           instruments
    • Authors: Olivares-Caminal R.
      Pages: 164 - 179
      PubDate: 2017-04-16
      DOI: 10.1093/cmlj/kmx021
      Issue No: Vol. 12, No. 2 (2017)
       
  • New Aggregated Collective Action Clauses and evolution in the
           restructuring of sovereign debt securities
    • Authors: Zandstra D.
      Pages: 180 - 203
      Abstract: Key pointsThe enhanced collective action clauses with an aggregation mechanism published in August 2014 by the International Capital Market Association (Aggregated CACs) together with a revised pari passu clause, for inclusion in English law-governed sovereign bonds, are the culmination of more than 20 years of work in the sovereign debt restructuring space, and represent the latest evolution to address the restructuring challenges faced by sovereigns and their creditors.Building on the existing collective action architecture, the Aggregated CACs equip sovereigns with powerful and flexible tools to tackle the issues that arise from sovereign debt restructurings, while nonetheless protecting creditors with robust safeguards.The enhanced clauses should both facilitate the resolution of sovereign debt crises in an orderly manner and diminish the international financial stability risks posed by large-scale debt crises capable of generating contagion.The clauses represent the culmination of an impressive collaboration between the full spectrum of stakeholders, including the official sector, private sector participants, industry bodies and legal practitioners. In addition to being endorsed by key participants from both the official and private sectors, the clauses have been adopted by sovereigns in the vast majority of new international bond issuances brought to market since their publication.While the Noteholders’ Committee provision also published in August 2014 by the International Capital Market Association has not gained the same traction to date, its publication has underpinned an important dialogue on creditor engagement between the official sector and private sector, which is ongoing.
      PubDate: 2017-06-30
      DOI: 10.1093/cmlj/kmx025
      Issue No: Vol. 12, No. 2 (2017)
       
  • Solving the pari passu puzzle: the market still knows best
    • Authors: Galvis SJ.
      Pages: 204 - 214
      Abstract: Key PointsAs a result of the Argentine sovereign debt crisis and ensuing holdout litigation saga, the pari passu (or ranking) clause became a source of great consternation in the international sovereign bond market.Specifically, Judge Griesa’s holding that Argentina had violated the pari passu clause by refusing to pay creditors who had not participated in the nation’s earlier debt exchanges, and accompanying requirement that Argentina had to pay those holdout bondholders, led to uncertainty in the market regarding the leverage holdouts could exercise in sovereign debt restructurings going forward.Concern was expressed over the ability of sovereigns to succeed with voluntary exchange offers premised on the threat that the restructuring sovereign would default on payments due to non-participating bondholders.This article evaluates the impact of the court’s decision in the Argentine litigation to date and discusses the adoption of improved ranking clauses and collective action voting clauses in recent issuances of sovereign debt in the effort to bring greater certainty to market participants and facilitate efficient restructurings in the future without the need for extra-contractual restructuring mechanisms and remedies.
      PubDate: 2017-07-07
      DOI: 10.1093/cmlj/kmx019
      Issue No: Vol. 12, No. 2 (2017)
       
  • Venezuela as a case study in limited (sovereign) liability
    • Authors: Mark WW; Weidemaier CC, Gauthier M.
      Pages: 215 - 223
      Abstract: Key pointsVenezuela is in a severe economic crisis, prompting speculation about default by the government or beleaguered state-owned oil company Petróleos de Venezuela, S.A. (PDVSA).Because the country’s economy is heavily dependent on oil exports, some observers have speculated that it faces a unique risk of holdout litigation by creditors seeking to attach oil-related assets.This essay highlights barriers to such litigation, which will be familiar to corporate lawyers but are often overlooked in discussions of sovereign debt. These barriers derive from corporate law principles of limited liability.Using Venezuela as a case study, this essay explores how principles of limited liability shape the dynamic between a sovereign debtor and its creditors and highlights some unusual aspects of these principles as applied to entities owned or controlled by foreign governments.
      PubDate: 2017-03-29
      DOI: 10.1093/cmlj/kmx020
      Issue No: Vol. 12, No. 2 (2017)
       
  • Restructuring sovereign debt after NML v Argentina
    • Authors: Buchheit LC; Gulati G.
      Pages: 224 - 238
      Abstract: Key pointsThe decade and a half of litigation that followed Argentina’s sovereign bond default in 2001 ended with a great disturbance in the Force. A new creditor weapon had been uncloaked: The prospect of a court injunction requiring the sovereign borrower to pay those creditors that decline to participate in a debt restructuring ratably with any payments made to those creditors that do provide the country with debt relief.For the first time, holdouts succeeded in fashioning a weapon that could be used to injure their erstwhile fellow bondholders, not just the sovereign issuer. Is the availability of this new weapon limited to the aggravated facts of the Argentine default or has it now moved permanently into the creditors’ arsenal' Only time (and future judicial decisions) will tell.In the meantime, however, sovereigns will occasionally find themselves in financial distress and their debts will occasionally need to be restructured. Venezuela already casts this chilly shadow over the sovereign debt market.If, in a galaxy not too far away, sovereign debt workouts are to have any chance of an orderly completion, a method must be found to neutralize this new weapon. Judging by the secondary market prices of different series of Venezuelan sovereign bonds, large amounts of money are being wagered that it cannot be done.
      PubDate: 2017-04-16
      DOI: 10.1093/cmlj/kmx018
      Issue No: Vol. 12, No. 2 (2017)
       
  • Collective action clauses: how the Argentina litigation changed the
           sovereign debt markets
    • Authors: Stolper AE; Dougherty S.
      Pages: 239 - 252
      Abstract: Key pointsThis article summarizes the current state of documentation for collective action clauses in sovereign debt documentation.In addition, the article summarizes various milestones in the development of collective action clauses beginning after the 2002 Argentina default and compares the collective action clauses of certain sovereigns and sub-sovereigns.
      PubDate: 2017-04-12
      DOI: 10.1093/cmlj/kmx022
      Issue No: Vol. 12, No. 2 (2017)
       
  • Restructuring government debt under local law: the Greek case and
           implications for investor protection in Europe
    • Authors: Grund S.
      Pages: 253 - 273
      Abstract: Key pointsFive years after Greece implemented the biggest sovereign debt restructuring in history, its legal design has been vindicated by European courts and international tribunals. Bondholders have exhausted all potential legal avenues to challenge the debt workout, but Greece and its counsels ultimately held the upper hand.This article sheds light on the most seminal decisions, discussing their implications for possible future restructurings of local law bonds, which continue to be prevalent in Eurozone Member States. While the retroactive insertion of collective action clauses facilitated a relatively smooth Greek debt swap, governments ought to carefully study the recent jurisprudence of European courts, which set important limits to governmental interference with bondholder’s property rights.By mapping three potential future debt restructuring and redenomination scenarios with post-Greece case law, this article strives to provide further clarity to both governments and creditors as regards the legal design of Private Sector Involvement in Europe.
      PubDate: 2017-04-04
      DOI: 10.1093/cmlj/kmx023
      Issue No: Vol. 12, No. 2 (2017)
       
 
 
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