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Financial services and banking news update 4 August 2017
  • Addleshaw Goddard LLP
  • United Kingdom
  • August 4 2017

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2 inflation target, and in a way that helps to sustain growth


Sovereign pari passu clauses: lost rights or last rites?
  • Clifford Chance
  • USA
  • February 13 2017

In late 2012, the New York courts decided that a pari passu clause in a sovereign bond prevented the sovereign from paying other creditors without


Trade Alert - January 2017, Issue 37
  • Cadwalader Wickersham & Taft LLP
  • France
  • December 1 2016

On 1 December 2016, the current president and Socialist leader, Francois Hollande, decided not to seek a second term as President of France. Mr


Collective Action Clauses, a well established provision is dusted off, reworked and expanded in the context of sovereign bonds
  • Hogan Lovells
  • Greece
  • February 17 2016

In the April edition of the Africa Newsletter, I wrote about the continuing controversy surrounding the interpretation of the form of the Pari Passu


EU Court of Justice finds OMT programme for purchase of government bonds not contrary to EU treaties
  • White & Case LLP
  • European Union, Germany
  • July 2 2015

In a judgment handed down on 16 June 2015, in the first ever preliminary reference made from Germany's Federal Constitutional Court


Argentina cannot evade payments under its government bonds: German court rejects suggestion of a general rule of international public law obliging all creditors to participate in debt restructuring with states in economic crisis
  • Herbert Smith Freehills LLP
  • Argentina, Germany
  • March 2 2015

On 24 February 2015, the German Federal Court of Justice (“Bundesgerichtshof“) handed down two judgements which could have a significant impact on


Sovereign litigation in Latin America: top five issues to think of when doing business with a Latin American country
  • Sheppard Mullin Richter & Hampton LLP
  • Central & South America
  • August 18 2014

"We are in the soup" exclaimed, federal judge Thomas Griesa, referring to Argentina allegedly defaulting on its sovereign bonds. And so we are


Bond exit consents: no way out?
  • White & Case LLP
  • United Kingdom
  • September 5 2012

The use of exit consents has been an important feature of many bond restructurings (see box “What are exit consents?”


Sovereign immunity
  • Quinn Emanuel Urquhart & Sullivan LLP
  • USA, United Kingdom
  • January 8 2012

Could an affiliate of a New York-based hedge fund seize Argentina’s assets in Britain using a $284 million U.S. court judgment it had against the South American nation?


Class representative cannot continue with case after accepting Rule 68 offer of judgment
  • Kelley Drye & Warren LLP
  • USA
  • August 22 2011

On October 31, 2001, a Goldman Sachs employee provided its traders with certain information about 30-year government bonds that had not yet been made public