Category: Odious Debts

Odious debt wears two faces: Systemic illegitimacy, problems and opportunities in traditional odious debt conceptions in globali

(January 17, 2007) This paper examines the way that the traditional notion of odious debt as a method of repudiating sovereign debt may undergo a conceptual revolution, as it changes focus from the illegitimacy of governments obtaining loans, to the illegitimacy of the systems through which such loans are made and enforced generally.

A critique of the odious debt doctrine

(January 17, 2007) Defenders of the odious debt doctrine, which bars creditors from collecting sovereign debts that financed the personal consumption of former dictators, argue that this rule would benefit populations following dictatorships and discourage would-be dictators from staging coups in the first place. We show that optimism about the doctrine is based on unrealistic assumptions about the motives and practices of dictators. With more realistic assumptions, the odious debt doctrine.

Odious debt wears two faces: Systemic illegitimacy, problems and opportunities in traditional odious debt conceptions in globali

(January 17, 2007) This paper examines the way that the traditional notion of odious debt as a method of repudiating sovereign debt may undergo a conceptual revolution, as it changes focus from the illegitimacy of governments obtaining loans, to the illegitimacy of the systems through which such loans are made and enforced generally.

The Due Diligence Model: A New Approach to the Problem of Odious Debts

(January 3, 2007) Odious debts are debts incurred by a government without either popular
consent or a legitimate public purpose. There is a debate within
academic circles as to whether the successor government to a regime
that incurred odious debts has the right to repudiate repayment. In the
real world, however, repudiation is not currently an option granted
legitimacy by either global capital markets or the legal systems of
creditor states.

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

(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.

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

(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.