Max Planck Lecture Series on Sovereign Debt: “Proposals for Reform of Sovereign Debt Restructuring: The Contractual Approach”

As part of its Lecture Series on Sovereign Debt, the Max Planck Institute Luxembourg is organising a lecture on the topic “Proposals for Reform of Sovereign Debt Restructuring: The Contractual Approach” on Wednesday, 30 November.

Various proposals have been put forward to reform the current sovereign debt restructuring process. While incomplete sovereign debt contracts risk making the restructuring process costly and unpredictable, Collective Action Clauses (CACs) are presented as a practical way to bind creditors to a well-defined restructuring process and prevent collective action litigation. This market-oriented approach rests on the idea that improving sovereign debt contracts is the best way to allow a more timely and orderly process without interfering with creditors’ rights. This lecture brings a critical perspective on the propositions that have been made to reform the restructuring process through a contractual approach.

The lecture is the fifth in a series of six Max Planck lectures supported through the FNR’s RESCOM: Scientific Events programme.


Lecturer: Mr. Philip R. Wood CBE (Allen & Overy)

Discussant: Prof. Christoph G. Paulus (Humboldt University of Berlin)

Time and location

Date and time: Wednesday, 30 November 2016, 16:00

Location: Max Planck Institute Luxembourg
Conference room, 4th floor
4, rue Alphonse Weicker
L-2721 Luxembourg

More information

This site uses cookies. By continuing to use this site, you agree to the use of cookies for analytics purposes. Find out more in our Privacy Statement