Abstract
Copyright: © 2014 Raffer K. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Recently, injunctions by a Federal Judge in New York have rocked international capital markets for sovereign debts. Whatever the outcome, Griesa’s decisions are going to change sovereign lending practices.
Highlights
It is useful to recall first that domestic equivalents of so-called “vulture funds” exist in practically all jurisdictions
Doubtful claims are sold well below par to firms specialised on collecting debts and trying to get full payment every day around the globe
This is seen as a useful way for creditors to get rid of doubtful claims and to recoup at least some money
Summary
It is useful to recall first that domestic equivalents of so-called “vulture funds” exist in practically all jurisdictions. Injunctions by a Federal Judge in New York have rocked international capital markets for sovereign debts. New York changed the law in favour of professional holdouts.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
