INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS
In recent years, there has been growing concern among politicians, the academic world and the general public about the aggressive strategies implemented by 'vulture funds' in sovereign debt markets and their negative effects, especially on the economies of developing countries. In the abse...
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| Formato: | Artículo revista |
| Lenguaje: | Español |
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Facultad de Derecho. Departamento de Derecho Público
2020
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| Acceso en línea: | https://revistas.unc.edu.ar/index.php/recordip/article/view/27774 |
| Aporte de: | Aportado por :
Revistas de la UNC de
Universidad Nacional de Córdoba .
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I10-R10-article-277742020-02-25T02:21:30Z INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS DERECHO INTERNACIONAL Y FONDOS BUITRE: EN BUSCA DE SOLUCIONES ALTERNATIVAS Pavlidis , George vulture funds sovereign debt debt crisis restructuring collective action clauses anti-vulture legislation Fondos buitre deuda soberana crisis de deuda reestructuración cláusulas de acción colectiva legislación contra los fondos buitres In recent years, there has been growing concern among politicians, the academic world and the general public about the aggressive strategies implemented by 'vulture funds' in sovereign debt markets and their negative effects, especially on the economies of developing countries. In the absence of an international mechanism for the restructuring of sovereign debt, developing countries with financial difficulties and their private creditors must negotiate in good faith to forge a fair and viable restructuring agreement. At the same time, more coordinated action is needed to discourage vulture fund strategies. The use of voluntary codes, the use of Collective Action Clauses with characteristics of aggregation and, as a last resort, the introduction of carefully drafted national legislation against vulture funds should constitute the key elements of such coordinated action. En los últimos años ha crecido la preocupación entre entes políticos, el mundo académico y el público en general sobre las estrategias agresivas implementadas por los ‘fondos buitre’ (‘vulture funds’) en los mercados de deuda soberana y sus efectos negativos, especialmente notorios en las economías de países en desarrollo. En ausencia de un mecanismo internacional para la reestructuración de las deudas soberanas, los países en desarrollo con dificultades financieras y sus acreedores privados deben negociar de buena fe para forjar un acuerdo de reestructuración justo y viable. Al mismo tiempo, se necesita una acción más coordinada para desalentar las estrategias de los fondos buitre. El uso de códigos voluntarios internacionales, el uso de cláusulas de acción colectiva (CAC) con características de agregación y, como último recurso, la introducción de una legislación nacional contra los fondos buitres cuidadosamente redactada debe constituir los elementos clave de tal acción coordinada Facultad de Derecho. Departamento de Derecho Público 2020-02-24 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unc.edu.ar/index.php/recordip/article/view/27774 RECORDIP; Núm. 1 (2020); 24-33 2250-5059 spa https://revistas.unc.edu.ar/index.php/recordip/article/view/27774/29154 |
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Universidad Nacional de Córdoba |
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I-10 |
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R-10 |
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Revistas de la UNC |
| language |
Español |
| format |
Artículo revista |
| topic |
vulture funds sovereign debt debt crisis restructuring collective action clauses anti-vulture legislation Fondos buitre deuda soberana crisis de deuda reestructuración cláusulas de acción colectiva legislación contra los fondos buitres |
| spellingShingle |
vulture funds sovereign debt debt crisis restructuring collective action clauses anti-vulture legislation Fondos buitre deuda soberana crisis de deuda reestructuración cláusulas de acción colectiva legislación contra los fondos buitres Pavlidis , George INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS |
| topic_facet |
vulture funds sovereign debt debt crisis restructuring collective action clauses anti-vulture legislation Fondos buitre deuda soberana crisis de deuda reestructuración cláusulas de acción colectiva legislación contra los fondos buitres |
| author |
Pavlidis , George |
| author_facet |
Pavlidis , George |
| author_sort |
Pavlidis , George |
| title |
INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS |
| title_short |
INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS |
| title_full |
INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS |
| title_fullStr |
INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS |
| title_full_unstemmed |
INTERNATIONAL LAW AND VULTURE FUNDS: IN SEARCH OF ALTERNATIVE SOLUTIONS |
| title_sort |
international law and vulture funds: in search of alternative solutions |
| description |
In recent years, there has been growing concern among politicians, the academic world and the general public about the aggressive strategies implemented by 'vulture funds' in sovereign debt markets and their negative effects, especially on the economies of developing countries. In the absence of an international mechanism for the restructuring of sovereign debt, developing countries with financial difficulties and their private creditors must negotiate in good faith to forge a fair and viable restructuring agreement. At the same time, more coordinated action is needed to discourage vulture fund strategies. The use of voluntary codes, the use of Collective Action Clauses with characteristics of aggregation and, as a last resort, the introduction of carefully drafted national legislation against vulture funds should constitute the key elements of such coordinated action. |
| publisher |
Facultad de Derecho. Departamento de Derecho Público |
| publishDate |
2020 |
| url |
https://revistas.unc.edu.ar/index.php/recordip/article/view/27774 |
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AT pavlidisgeorge internationallawandvulturefundsinsearchofalternativesolutions AT pavlidisgeorge derechointernacionalyfondosbuitreenbuscadesolucionesalternativas |
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2022-08-20T00:47:32Z |
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2022-08-20T00:47:32Z |
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