To effectively deal with debt crises, it is crucial to ensure the participation of all creditors, especially private creditors in debt relief measures. But how can uncooperative creditors be prevented from suing for their claims in national courts, thereby undermining multilateral agreements?
This new focus paper examines the potential that national laws may have to restrict the ability of private creditors to sue and enforce their claims. The publication wants to contribute to the debate in Germany in the context of the implementation of the German coalition agreement, in which the governing parties agreed to support the creation of a sovereign debt workout mechanism.
Read more: Focus Paper 9: “The Potential of National Legislation for the Fair Resolution of Global Debt Crises” (2023)