An Introduction to Sovereign Debt Restructuring

Abstract Chapter 10 provides an overarching introduction to the topic of sovereign debt, presenting the main finance options, the players, the available restructuring options and tools, and the peculiar dynamics of these types of restructuring due to the lack of a cross-border international framework. Moreover, the sovereign nature of the debtor poses an even bigger challenge, altering the whole dynamics of the system since the debtor cannot be ‘forced’ to pay due to the absence of other mechanisms available in the corporate context (ie the appointment of and administrator or the liquidation of the debtor) and the creditor must settle or litigate, which poses even greater challenges.