The Legislation of Argentina on its Sovereign Debt

This article examines (i) the Argentine legislation relating to the management of its sovereign debt including the application of such regulatory framework to the default of 2001 and the Debt Exchanges as a background of the legal norms that will be needed in connection with the negotiation and resolution of the debt in default with the holders of the defaulted bonds (“Holdouts”) and the regularization of the payment of the bonds issued under the Debt Exchanges; (ii) the intersection between the legal architecture of the 2005 Debt Exchange and the court decisions in the NML v The Republic of Argentina case; and (iii) what specific legislative steps should be taken in order to restructure the Argentine debt in default.