Legal Scholars Advance the Principle of Odious Debts

Odious, illegitimate, illegal or legal debts – What difference does it make for international Chapter 9 arbitration?

(January 1, 2007)

Kunibert Raffer
Law & Contemporary Problems
Monday, January 1, 2007
 

Once upon a time, sovereign debts were just that — debts or the entitlement to be repaid fully, including interest. During the 1970s it was thought unnecessary to make any distinctions between debts, based on the assumption that sovereigns might possibly become illiquid, but could never become insolvent.

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