Emory International Law Review

Volume 31Issue 1

Settling Sovereign Debt’s “Trial of the Century”

Juan J. Cruces & Tim R Samples | 31 Emory Int'l L. Rev. 5 (2016)

With NML v. Argentina finally poised for settlement negotiations, the authors analyze a subset of the key economic and legal factors underlying this litigation, with a particular emphasis on issues relevant to a potential settlement. This Article documents the wide heterogeneity of holdout rates across Argentina’s 150 defaulted bonds and focus the analysis on the seven most held-out bonds. This Article also assesses the returns that investors would have obtained by purchasing the seven-bond basket at different times since 2002. This analysis offers a framework for potential settlement negotiations. However, with so many holdouts unaccounted for, a settlement with the NML litigants exposes Argentina to the tyranny of the next litigant as long as the current injunctions remain in place. There is a benefit of modifying or lifting these injunctions as Argentina begins negotiating in good faith to reach a reasonable settlement with its holdout creditors.

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Labor Migration in a Globalized World: The Human Journey’s Challenges for International Law and Policy

Julien Chaisse & Lloyd Meng | 31 Emory Int'l L. Rev. 49 (2016)

In this Article, Professor Julien Chaisse and Mr. Lloyd Meng cover the most recent developments in the field of international economic migration, including the latest WTO Ministerial Conference of December 2015 and the conclusion of the Trans-Pacific Partnership (TPP) in November 2015. The authors examine how international economic migration has developed over past years by critical analysis of frameworks found in the Preferential Trade Agreements of the United States, Canada, and Chile, with particular attention to market access and the standard of treatment afforded to temporary migrants. Recent European developments in the area of focused bilateral migration agreements are also discussed in the context of international economic migration. The authors conclude by analyzing the effect of the TPP, the practices it imposed, and the similarities and differences between those practices and the recent practices that have developed through the PTAs.

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