24. Sovereign Debt Documentation and the Pari Passu Clause

  1. Robert W. Kolb
  1. Umakanth Varottil

Published Online: 29 NOV 2011

DOI: 10.1002/9781118267073.ch24

Sovereign Debt: From Safety to Default

Sovereign Debt: From Safety to Default

How to Cite

Kolb, R. W. (2011) Sovereign Debt Documentation and the Pari Passu Clause, in Sovereign Debt: From Safety to Default, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118267073.ch24

Author Information

  1. Assistant Professor, Faculty of Law, National University of Singapore

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 21 FEB 2011

ISBN Information

Print ISBN: 9780470922392

Online ISBN: 9781118267073

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Keywords:

  • Pari Passu clause;
  • sovereign debt documentation;
  • payment obligations;
  • republic of Peru;
  • Banco De Lanacion

Summary

This chapter contains sections titled:

  • The Elliott Case

  • Interpretation of the Pari Passu Clause

  • Exogenous Reasoning

  • The Shift from Unanimous Action Clauses to Collective Action Clauses

  • The Shift from Fiscal Agent to Trustee with Sole Enforcement Powers

  • Reflecting on the Exogenous Factors

  • Conclusion

  • Notes

  • About the Authors