The practical worth of sovereign borrowers' waivers of legal immunity came into question this week as indications emerged that the Republic of Armenia might be hoping to avoid offering investors the traditional measure when it brings its debut Eurobond, writes Francesca Young.
Some market participants argue that any erosion of creditors’ rights or clauses that could protect investors would be detrimental to attempts to enforce payment at a later date. But others argue that sovereign immunity with regard to Eurobond debt is in any case rarely upheld by the majority
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.