This work illuminates to what extent rights of priority among different classes of creditors have been established in the course of the reorganizations of the debts of insolvent states.

Publisher Comments

Category: Bankruptcy & Restructuring This title is part of the Bankruptcy Primer list. Of Interest: The Work of the Bond House The Principles of Bond Investment Railroads: Finance & Organizations Foreign Bondholders and American State Debts Foreign Bonds: An Autopsy State Insolvency and Foreign Bondholders: Selected Case Histories of Governmental Foreign Bond Defaults and Debt Readjustments The PRC Enterprise Bankruptcy Law: The People's Work in Progress

Volume 1 of this two-volume study discusses the main problems and practices that have arisen out of defaults by national governments on their foreign bond issues. It also examines how past experience in the regulation of state insolvencies has resulted in the establishment of principles and rules governing these matters. In addition to intrinsic historical interest, this record and analysis of the legal, diplomatic, and economic developments that have characterized the relations of governments with their foreign bond creditors will be useful to legislators, government officials, bankers, investors and students of international law. It will shed light on problems encountered today in the arrangement of new debt readjustments.

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Edwin Montefiore Borchard was Justus S. Hotchkiss Professor of Law at and a well-known authority on international law.

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