The Sovereign Debt Scoping Forum provides experts the opportunity to meet and deliberate on legal uncertainties affecting central government debt. The FMLC has a long-standing history in tackling sovereign debt issues: it hosted a seminar on this topic in 2012 and produced a paper on pari passu clauses in 2005. Whilst the debate surrounding the interpretation of the pari passu covenant continues, broader uncertainties related to potential currency redenomination and a member state’s exit from the E.U. (an increasingly relevant topic) may also arise.
For further information, please see the Forum’s Terms of Reference and 2024 Forward Schedule.
This meeting of the Sovereign Debt Scoping Forum was cancelled owing to circumstances related to the COVID-19 pandemic.
This meeting of the Sovereign Debt Scoping Forum was chaired and hosted by Michael Godden of Norton Rose Fulbright LLP. Members discussed the Court of Appeal Ruling in Ukraine v The Law Debenture Trust Corporation plc. The agenda and minutes of the meeting are...
This meeting of the Sovereign Debt Scoping Forum was chaired and hosted by Richard O’Callaghan of Linklaters LLP. Members discussed U.S. sanctions on Venezuela, amended reporting obligations regarding rejected transactions from U.S. Office of Foreign Assets Control and private sector principles for transparency in...
This meeting of the Sovereign Debt Scoping Forum was chaired and hosted by Francis Fitzherbert-Brockholes of White & Case LLP. Professor Steven Schwarcz of Duke University School of Law attended as a guest speaker and presented on a model-law approach to sovereign debt restructuring....
This meeting of the Sovereign Debt Scoping Forum was chaired by Leland Goss of the International Capital Markets Association. Members discussed the impact of international treaties on debt restructuring and climate-resilient debt. The meeting’s agenda and minutes are available to download.
A meeting of the Sovereign Debt Scoping Forum was held on 10 December 2018. Lee Buchheit of Cleary Gottlieb Steen & Hamilton LLP and Professor Mitu Gulati of Duke University attended as guest speakers and presented on U.S. Executive branch power and sovereign debt...
A meeting of the Sovereign Debt Scoping Forum was held on 11 September 2018. The meeting was chaired by Professor Rodrigo Olivares-Camimal of Queen Mary University London. Forum members discussed recent developments in Cuba, Venezuela and Argentina. The agenda and minutes of the meeting are...
A meeting of the Sovereign Debt Scoping Forum was held on 5 June 2018. The meeting was chaired and hosted by Duncan Kellaway of Freshfields Bruckhaus Deringer LLP. Forum members discussed the recent crisis in Italy as well as the Jubilee Debt Campaign’s proposal...