Tag: chapter 9 arbitration

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.