Friday, August 11, 2023
Charles Ho Wang Mak (Robert Gordon University Law School) recently published an Article titled, Debts Unravelled: Trust Law’s Unbiased Approach to Resolving Sovereign Defaults, Trusts & Trustee (2023) 29 (5). Provided below is the Abstract:
Sovereign debt defaults have long ignited debate in international finance as debtors, creditors, and global entities wrestle with clashing interests. Trust law emerges as a fair and objective method, with trusts formed to manage and disburse funds for creditor advantage. This article investigates trust law’s relevance to sovereign debt defaults, presenting case studies and examining its impartiality. The article assesses trust law’s pros and cons, proposing its future use as an auxiliary tool alongside debt restructuring. In essence, the article thoroughly scrutinises trust law’s function in tackling sovereign debt defaults, highlighting its significance as a just and unbiased mechanism.
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