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Odious, Illegitimate, Illegal, or Legal Debts: What Difference Does It Make for International Chapter 9 Debt Arbitration?
Investigates the concept of "illegitimate debt" in relation to odious versus legal debts to consider international debt arbitration based on Chapter 9 in the US bankruptcy code. A review of the international view of debt since the 1970s identifies the need for a clear definition of the ter...
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Published in: | Law and contemporary problems 2007-10, Vol.70 (4), p.221-247 |
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container_title | Law and contemporary problems |
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creator | Raffer, Kunibert |
description | Investigates the concept of "illegitimate debt" in relation to odious versus legal debts to consider international debt arbitration based on Chapter 9 in the US bankruptcy code. A review of the international view of debt since the 1970s identifies the need for a clear definition of the term "illegitimate" as exemplified in the Norwegian 2006 cancellation of debt. Odious debts, creditor duties, legitimacy, & the obligation to pay are factors that distinguish legal from legitimate debts. It is concluded that the application of the author's sovereign insolvency model would advantage creditors & debtors in the abolishment of the unjustified de facto privileges of official creditors that make the crisis worse. References. Adapted from the source document. |
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A review of the international view of debt since the 1970s identifies the need for a clear definition of the term "illegitimate" as exemplified in the Norwegian 2006 cancellation of debt. Odious debts, creditor duties, legitimacy, & the obligation to pay are factors that distinguish legal from legitimate debts. It is concluded that the application of the author's sovereign insolvency model would advantage creditors & debtors in the abolishment of the unjustified de facto privileges of official creditors that make the crisis worse. References. 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A review of the international view of debt since the 1970s identifies the need for a clear definition of the term "illegitimate" as exemplified in the Norwegian 2006 cancellation of debt. Odious debts, creditor duties, legitimacy, & the obligation to pay are factors that distinguish legal from legitimate debts. It is concluded that the application of the author's sovereign insolvency model would advantage creditors & debtors in the abolishment of the unjustified de facto privileges of official creditors that make the crisis worse. References. Adapted from the source document.</abstract><cop>Durham</cop><pub>Duke University School of Law</pub><tpages>27</tpages></addata></record> |
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source | International Bibliography of the Social Sciences (IBSS); Nexis UK; JSTOR Archival Journals and Primary Sources Collection; PAIS Index; Worldwide Political Science Abstracts |
subjects | Arbitration Bankruptcy Commercial arbitration Contracts Creditor claims Creditors Debt Debt reduction Debt service Debtors Debts Developing countries External debt External debt relief External debts Extinguishment of debts IMF Insolvency International public law International relations Laws, regulations and rules LDCs Legitimacy Loans Municipal bankruptcy National debt Obligation OECD Public debt Public management Sovereign debt Sovereignty Sustainable development United States United States of America |
title | Odious, Illegitimate, Illegal, or Legal Debts: What Difference Does It Make for International Chapter 9 Debt Arbitration? |
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