International Public Contracts: Applicable Law and Dispute Resolution

Wautelet, Patrick

doi:10.2139/ssrn.2687627

Cited by 17 publications

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“…Patrick Wautelet observes that the application of international law does not exclude possibility of a contract also being governed by national law, if the parties expressly indicated their choice for such a law, but the application of national law does not hinder the application of international law 186 .…”

Section: The Decision On Arbitrabilitymentioning

confidence: 99%

Arbitration and Public Policy in Brazil: A Study Based on ‘Lula Case’

Lins

2018

PBL

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This work examines the subject of jurisdiction and arbitrability of issues related to energy and natural resources in the world, in order to enhance the arbitration institute in Brazil. The study is based on a recent case pending in Brazilian courts, named “Lula case”, which refer to a dispute between the State and concessionaires that grant the right to explore and produce oil and gas in a determined area. The presence of arbitration clauses in the concession contracts for exploration and production of oil and gas in Brazil raises questions related to the disposability of the rights concerned. It is paramount to set benchmarks on arbitral tribunals’ power to decide on these matters and to define to what extent arbitral awards may defy public policy, national sovereignty over natural resources and national courts’ jurisdiction to render decisions in this regard. Otherwise, the randomness of judicial decisions makes the arbitration clause ineffective. Moreover, the Lula case arises substantive issues related to the necessity to protect investors in the oil and gas industry, since acts arguably connect to the State policy power may cause damages to the private parties. The work critically examines the decision given by national courts so far and proposes an international approach to face situations involving the State and the necessity to protect investors in the oil and gas industry.

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Section: The Decision On Arbitrabilitymentioning

confidence: 99%

Arbitration and Public Policy in Brazil: A Study Based on ‘Lula Case’

Lins

2018

PBL

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Intercreditor Equity in Sovereign Debt Restructuring

Iversen

2023

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The book provides a comprehensive legal study of intercreditor equity—rules providing for equal and differential treatment of creditors—in sovereign debt restructurings. The question of intercreditor equity is one of the most conflictual issues in debt restructuring, both historically and today. It is paramount to creditors in the unfortunate event of a debt restructuring and it is equally important to debtor states so that they can manage restructuring processes as efficiently as possible and ensure a sustainable debt crisis resolution. The first aim of the book is to map and establish the content of intercreditor equity rules and analyse how they influence restructuring processes. This helps creditors improve their prediction of their legal rights and calculate the returns on their investments. It also improves a sovereign debtor’s understanding of the boundaries within which its debt restructuring offer must be designed and is instructive when drafting future sovereign debt instruments. Second, and equally important, the book sheds light on the functioning of the legal framework governing sovereign debt more broadly. It raises the question of whether intercreditor equity rules and the surrounding legal framework of sovereign debt restructuring are compatible with a debtor state’s possibility to ensure monetary and financial stability and establish sustainable debt burdens. In sum, the book seeks to go beyond the common platitude that ‘equal treatment’ is the crux of a successful debt restructuring process by showing that equal treatment is an ambiguous concept that is context- and rule-specific, and does not necessarily guarantee a sustainable debt restructuring.

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Iversen

2023

Intercreditor Equity in Sovereign Debt Restructuring

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International Public Contracts: Applicable Law and Dispute Resolution

Cited by 17 publications

References 1 publication

Arbitration and Public Policy in Brazil: A Study Based on ‘Lula Case’

Arbitration and Public Policy in Brazil: A Study Based on ‘Lula Case’

Intercreditor Equity in Sovereign Debt Restructuring

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