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Changes And Convergence Of Bankruptcy Law: Recent Experience In Brazil, Joao Guilherme Thiesi Da Silva
Changes And Convergence Of Bankruptcy Law: Recent Experience In Brazil, Joao Guilherme Thiesi Da Silva
LL.M. Essays & Theses
Bankruptcy regimes across the globe have been constantly changing in response to new market demands and the evolution of insolvency law principles and objectives. Part of the academic community argues that such changes may lead to a convergence of domestic bankruptcy laws, as a result of globalization and market integration. Scholars have reviewed the phenomena of changes and convergence of bankruptcy laws in Europe, East Asia and Africa. However, little attention has been given to Latin American countries, such as Brazil. This paper aims at contributing to the discussion on changes and convergence of bankruptcy law, by focusing on four …
Public Symbol In Private Contract: A Case Study, Anna Gelpern, Mitu Gulati
Public Symbol In Private Contract: A Case Study, Anna Gelpern, Mitu Gulati
Center for Contract and Economic Organization
This Article revisits a recent shift in standard form sovereign bond contracts to promote collective action among creditors. Major press outlets welcomed the shift as a milestone in fighting financial crises that threatened the global economy. Officials said it was a triumph of market forces. We turned to it for insights into contract change and crisis management. This article is based on our work in the sovereign debt community, including over 100 interviews with investors, lawyers, economists, and government officials. Despite the publicity surrounding contract reform, in private few participants described the substantive change as an effective response to financial …