Sovereign debt column: Where we are now with collective action clauses
Andrew Shutter (Credit: Cleary Gottlieb Steen & Hamilton)
Andrew Shutter, a partner at Cleary Gottlieb Steen & Hamilton in London, argues that the ability to impose the wishes of the majority creditors on the minority by operation of law, often used in corporate insolvencies, can also be beneficial in sovereign debt restructurings.
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