Where Are We Now? Investment Treaty Arbitration, Sovereign Debt, and Mass Claims in the Post-Abaclat Era

Transnational Dispute Management 1 (2018)

20 Pages Posted: 13 Mar 2020

See all articles by Jennifer Permesly

Jennifer Permesly

Skadden Arps Slate Meagher & Flom LLP

Meredith Craven

affiliation not provided to SSRN

Date Written: January 1, 2017

Abstract

In a watershed decision in 2011, an ICSID tribunal accepted jurisdiction over a mass claim brought by 180,000 Italian bondholders against the Republic of Argentina, alleging international law claims arising out of Argentina's sovereign debt default. In 2016, the Abaclat arbitration settled before a decision on the merits could be reached. This Article examines developments in mass claims and sovereign debt claims following the Abaclat jurisdictional decision. It examines procedural aspects of the Abaclat arbitration in order to assess what lessons can be learned about addressing mass claims through investment treaty arbitration. It also looks at recent developments in the sovereign debt arena in an effort to draw conclusions about the potential future of sovereign debt claims as a subject of investment treaty arbitration.

Suggested Citation

Permesly, Jennifer and Craven, Meredith, Where Are We Now? Investment Treaty Arbitration, Sovereign Debt, and Mass Claims in the Post-Abaclat Era (January 1, 2017). Transnational Dispute Management 1 (2018), Available at SSRN: https://ssrn.com/abstract=3536449

Jennifer Permesly (Contact Author)

Skadden Arps Slate Meagher & Flom LLP ( email )

Meredith Craven

affiliation not provided to SSRN

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