Sovereign and municipal debt

Sovereign debt restructuring in times of stress: lessons from Ecuador and Argentina

Hogan Lovells partner Evan Koster and associate Juan Moreno investigate the use of aggregated collective action clauses in the recent restructurings of Ecuador and Argentina, describing them as an “important development” in the restructuring process of sovereigns.

23 September 2020

Argentina’s quest for the moral high ground: the road ahead

In the final part of his feature examining Argentina’s strategy in its recent debt negotiations with bondholders, Steven Kargman of Kargman Associates looks at what lies ahead for the country as it prepares for a fresh round of negotiations with the IMF. Kargman asks whether the country will be able to develop a sustainable economic strategy for the coming years, or whether it will continue to lurch from one economic (and sovereign debt) crisis to another.

17 September 2020

Argentina’s quest for the moral high ground: the professoriate weighs in

In the third part of his feature examining Argentina’s “quest for the moral high ground” in its recent restructuring negotiations, Steven Kargman of Kargman Associates looks at the role played by some of the world’s leading academics and Argentina’s position on debt sustainability and collective action clauses.

16 September 2020

Argentina’s quest for the moral high ground: challenges during a pandemic

In the second instalment of his four-part feature, Steven Kargman of Kargman Associates begins his exploration of the “three P’s” relied on by Argentina during its recent restructuring negotiations, focusing on the roles played by the covid-19 pandemic and the Pope.

15 September 2020

Argentina’s quest for the moral high ground in its recent restructuring

In the first of a four-part feature, Steven Kargman, founder and president of the eponymous New York-based international restructuring advisory firm Kargman Associates, examines Argentina’s strategy in its recent debt negotiations with foreign bondholders.

14 September 2020

Ecuador completes US$17.4 billion debt restructure

With help from Hogan Lovells, Ecuador has completed a deal to restructure its US$17.4 billion international debt pile, marking one of the first applications of collective action clauses in a capital markets transaction.

04 September 2020

Omni Bridgeway hires Morgan Lewis partner to focus on LatAm

Australian dispute finance firm Omni Bridgeway has appointed a new leader for its global distress-related litigation funding business in New York.

01 September 2020

Argentina’s debt restructuring likely to get approval, say lawyers

Argentine lawyers are buoyant that the government’s two-day old deal with holders of the country’s foreign bonds will get the required approval numbers, and mark the country’s return to international capital markets.

06 August 2020

US court rejects block on Ecuador’s US$17 billion restructuring

Ecuador has defeated an injunction request by a “small minority” of bondholders seeking to block its tender for a US$17.4 billion sovereign bond restructuring, ahead of a securities fraud action.

04 August 2020

Bondholder suit calls Ecuador’s US$17.4 billion restructure “coercive”

A US investment fund holding Ecuadorian sovereign bonds is leading a class action in which it is urgently trying to halt the state’s recent tender aiming to restructure US$17.38 billion in debt.

31 July 2020

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