Opening pandora's box: Sovereign bonds in international arbitration
成果类型：
Article
署名作者：
Waibel, Michael
署名单位：
University of Vienna; Harvard University
刊物名称：
AMERICAN JOURNAL OF INTERNATIONAL LAW
ISSN/ISSBN：
0002-9300
发表日期：
2007
页码：
711-+
关键词：
摘要：
Over the last two decades, private creditors have increasingly resorted to litigation in national courts as a means of obtaining payment on defaulted sovereign debt. Arbitration under the auspices of the International Centre for Settlement of Investment Disputes is commonly mentioned as a viable alternative. Such attempts to take defaulting countries to arbitration could upset the sovereign debt market's delicate equilibrium, and they are also unlikely to succeed. The article shows why ICSID may lack jurisdiction over sovereign debt instruments and why sovereign defaults generally do not trigger state responsibility.