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Sovereign debt column: side stepping the pari passu injunction

By Andrew Shutter

20 January 2017

Sovereign debt column: side stepping the pari passu injunction Andrew Shutter Cleary Gottlieb Steen & Hamilton

Andrew Shutter, partner at Cleary Gottlieb Steen & Hamilton in London, considers the future of sovereign debt restructuring in the face of pari passu injunctions – that is, court orders preventing certain creditors from receiving payments if other creditors have not been paid in full.