Best Clauses Controversies Podcasts (2025)

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Ep 81: Sarah Brown (@AffluentDetritus) - Andean Myrtle (LAFCO) 1:13:19

Play Pause

2M ago1:13:19

1:13:19

It's Two Wick Tuesday and this week, Selena chats with Sarah Brown aka @AffluentDetritus on Instagram and her blog. Their conversation touches on a ton of hot topics: Chanel's Vamp, Laura Ashley, Tori Amos, lipstick of the 90s, The Body Shop, Sarah's little friend "soapey," Instagram, capitalism, and more! Tune in to find out which candle brand lit…

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Ep 80: Michelle Boncek - Basil, Mint + Sage (North Ave Candles) 1:06:40

3M ago1:06:40

1:06:40

After a few weeks off, Selena is back in the candle saddle and ready to hear hot takes from her longtime friend Michelle Boncek. Michelle is a longtime TWM listener, a caring public school teacher, a bookworm, a Swiftie, and a true blue candlehead. The ladies talk podcasts, candlemaking, food scents, candle warmers, gifts, lost wicks, and so much m…

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Ep 160 ft. Mitu & Mark 45:16

3M ago45:16

45:16

Ukraine's Expansive "Fiscal Laws" Clause International sovereign bonds, and particularly those issued under English law, often include a clause providing that payments are subject to the applicable "fiscal and other laws." Usually, the clause makes clear this refers to fiscal laws in the “place of payment” (e.g., Luxembourg). Separately, internatio…

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Ep 159 ft. Mitu & Mark 36:20

4M ago36:20

36:20

The Greek GDP Warrant DramaGreece’s debt situation has improved remarkably, from default status in 2012 to investment grade in 2025. A few weeks ago though, Bloomberg reported on a brewing drama with the GDP warrants that were offered to investors in the brutal 2012 restructuring. Apparently, Greece has elected to exercise its right to call the war…

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Ep 79: Jessamyn Violet - Havana (Butcher's Daughter) 45:15

4M ago45:15

45:15

It's Two Wick Tuesday and this week, Selena chats with her hometown pal Jessamyn Violet (@jessamynviolet on Insta) the author of VENICE PEACH (out 6/6) and member of Movie Club (@movieclubband on Insta). They take a long walk down memory lane that includes Gap candles, tapers, Hot Topic vs. Scream, the Natick Mall, Angel by Thierry Mugler, fosterin…

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Ep 158 ft. Mitu & Mark 48:31

4M ago48:31

48:31

Some Questions, Now That it's About 3 Years Since Russia’s Default It has now been around 3 years since Russia’s invasion of Ukraine, which prompted EU and US sanctions and a default on Russia’s external bonds. The prescription clause in these bonds says that Russia’s obligations become void unless investors make claims within three years of the da…

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Ep 78: Chris Lamberth - Coconut & Palm (Sand + Fog) 53:12

4M ago53:12

53:12

This week, Selena chats with a longtime friend, comedian Chris Lamberth (@ChrisLamberth on Twitter and Insta) who is well-versed in the Marshalls and TJ Maxx candle scene of suburban New Jersey. Chris came prepared with a 7 WICK candle and they discuss grocery store candles, standup comedy, Boston, and the appeal of a Residence Inn. Please subscrib…

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Ep 157 ft. Mitu & Mark 38:02

5M ago38:02

38:02

Sovereign Debt Odd & Ends An odds and ends podcast about unrelated sovereign debt topics. First up, Venezuela. Most investors have been sitting around waiting for an eventual restructuring and lifting of US sanctions. But a handful of funds sued early, got judgments, and have spent years trying unsuccessfully to collect. If they had succeeded, they…

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Ep 77: Cindee Weiss - Vanilla Spice + Orange (The Body Shop) 1:06:29

5M ago1:06:29

1:06:29

It's Two Wick Friday, candleheads! There are no rules! This week, Selena chats with comedy friend and fellow NYC resident Cindee Weiss (@CindeeIsaWeiss on Insta)! They talk about bong water, 1990s superstore The Body Shop, candle safety when you're a scarf addict, yahrzeit candles, and more! Please subscribe, rate, and review, candleheads! (music: …

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Ep 156 ft. Paul Stephan 46:06

5M ago46:06

46:06

Is There Any Law of State Succession? Syria, Ukraine and Greenland.The law of state succession to obligations comes mostly from a different era, when war and conquest were legal and borders changed with some frequency. Today, we are faced with multiple situations where borders might change due to war. Does the law tell us what happens to the debts …

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Ep 76: Meghan Dineen - Topanga Canyon (Joan Gray Candles) 54:26

6M ago54:26

54:26

This week, it's Two Wick Wednesday instead of Two Wick Tuesday, but the candle convo and hot takes are just as hot! In this episode, Selena sits down with producer, dog mom, and recreational candlemaker Meghan Dieen (@mrdineen on Insta) for a delightful candle convo. Meghan talks about her love of the meditative, process-driven steps of candle-maki…

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Ep 155 ft. Mitu & Mark 35:13

6M ago35:13

35:13

What if Trump Discovers that Unpaid UK (and French) Debt From WWI?The current administration has tossed concepts such as “special relationships” with allies out the window. The administration seems willing to apply just about any leverage it has to obtain concessions from allies, including concessions that might reduce the US debt. Seen in that lig…

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Ep 75: Charlie Rauh - Astoria (Planet Sis) 52:52

6M ago52:52

52:52

Happy spring, candleheads! This week, Selena welcomes musician and writer Charlie Rauh (@charlierauh_music on Insta) to the candle hot seat and their conversation is both hilarious and profound. They hit on topics including rituals, tenderness, gentle power, and open windows. Brands covered include Planet Sis, Northern Lights, Diptyque, and more! B…

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Ep 154 ft. Mitu & Mark 37:15

6M ago37:15

37:15

What Might a Syrian Debt Restructuring (Eventually) Look Like?There is little doubt that Syria needs to restructure its debt, among other reasons to pave the way for rebuilding after a long and brutal civil war. It strikes us as too early to envision what that process will look like, but we can identify some of the key issues. The country owes a lo…

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Ep 153 ft. Mitu & Mark 37:48

6M ago37:48

37:48

User Fees on the US Treasury Strategic Gold Crypto ReserveTrump plans to reduce the US debt. We are missing some of the steps, but here are the ones we have identified so far:1. Golden passports2. Tariffs3. Maybe not tariffs4. Okay, tariffs5. Something about gold6. User fee on treasuries7. Crypto8. ???We speculate about what we are missing. Maybe i…

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Ep 74: Mandie Allietta - Heirloom Tomato (Paddywax) 56:06

7M ago56:06

56:06

This week, Selena's guest is former comedian Mandie Allietta (@SpiderMandie on Insta) who is also her sister-in-law! Mandie is a tomato candle girlie and they deep dive into this popular vegetable (fruit?) from candles to soups to sweaters. Mandie shares her candle journey from West Elm to B&BW to Sydney Hale and beyond. They each learn some lesson…

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Ep 152 ft. Mitu & Mark 26:42

7M ago26:42

26:42

Why Do We Care Who is Behind HRB’s Sri Lankan Lawsuit?The Hamilton Bank litigation against Sri Lanka appears to be reaching the end. Or is it? The stays that were granted during restructuring talks have implications for future sovereign debt restructurings, we think. Especially Venezuela’s restructuring, which is going to be a huge undertaking. And…

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Ep 73: Nimmi Chainani - Midnight Rose (Scentille) 48:52

7M ago48:52

48:52

This week, Selena chats with the founder of Scentille (@scentillecandles on Insta), Nimmi Chainani! Nimmi is an entrepreneur who was inspired during Covid lockdown to create a product to transform her space and unlock an immersive and luxurious experience. In their conversation, Nimmi shares her candle journey and her experience as an entrepreneur,…

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Ep 151 ft. Sarah Carlson & Elena Duggar 39:25

7M ago39:25

39:25

Greece’s (Ratings) Rise From the Ashes – Wow, but also How?We study sovereign restructurings, which means we primarily study countries going into and struggling to get out of crisis. Serial defaulters such as Argentina and Ecuador are frequent topics on our podcasts. And given how bad things were a decade ago, and its history of frequent defaults b…

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Ep 72: Sara Polland - Claus Porto 52:37

7M ago52:37

52:37

Happy February, candleheads! We're back with the hot candle conversation that you know and love. This week, Selena sits down with her friend Sara Polland for a hilarious and lovely chat. Sara talks about the candles of her faith--from the Friday Sabbath to Havdalah to Hanukkah candles and beyond. They discuss what is "goyish," talk about candle-mak…

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Ep 150 ft. Andrew Kissner 47:06

8M ago47:06

47:06

Getting "J. Screwed" Sounds Better than Getting "Argentina'd"In the world of corporate debt, everyone seems to be talking about "Liability Management Exercises," where a borrower, with a subset of creditors, exploits loose loan covenants in ways that leave other creditors screaming mad. Even better, these LME techniques have clever names: "trap doo…

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Ep 149 ft. Mitu & Mark 44:13

8M ago44:13

44:13

Is Sri Lanka’s Loss Reinstatement Provision a Penalty?Two of our favorite things to talk about are innovative contract clauses and ancient illogical contract doctrines that unexpectedly bite in the ass. A few weeks ago, we walked through the Loss Reinstatement provisions for Ghana and Zambia. We asked the question of whether those provisions might …

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Ep 148 ft. Mitu & Mark 49:49

9M ago49:49

49:49

Sri Lanka's New MFC Clause — Have "Contorts" Arrived in Sovereign Debt? The doctrine of tortious interference with contracts is one of several that sits at the intersection of tort and contract law. These "contorts" confuse law students — lawyers and law professors too! — but can be important in practice. If not anticipated, they can create problem…

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Ep 71: Melanie (MrKongsMom) - Vintage Pomander (Kringle) 56:18

9M ago56:18

56:18

This week, Selena chats with Melanie who is known as MrKongsMom on YouTube, where she talks about beauty products and candles to over 53K subscribers! Melanie is a sweetheart who KNOWS HER STUFF in the world of candles. Selena learns about candle crocks and warmers, Melanie gets specific with her favorite scents by season, and they discuss her coll…

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Ep 70: Noelle Winters Herzog - Witches' Brew (Yankee Candle) 53:45

10M ago53:45

53:45

This week, Selena chats with a scent aficionado, a powerhouse podcast host, and a Yankee Candle Stan, Noelle Winters Herzog (@noeygirl_ on Insta)! The ladies talk about perfumes, seasons, and brands ranging from Diptyque, Nest, and Crabtree & Evelyn, to the chaotic candle section of Marshalls, TJ Maxx, and Homegoods.…

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Ep 147 ft. Paul Stephan 47:48

10M ago47:48

47:48

YPF and Argentina’s Contributions to International Law Argentina owes over $16 billion in connection with its nationalization of state oil company YPF. A federal judge in the Southern District of New York is considering whether to order Argentina to hand over its shares in YPF — technically located outside the United States — to pay part of the jud…

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Ep 69: Aaron Allietta - Decrepit Manor (BPAL) 28:31

10M ago28:31

28:31

This week is a very special episode of Two Wick Minimum—Selena sits down with a man whose candle journey for the past 5 years has intertwined with her own: her husband Aaron Allietta! Aaron shares his expriences with living in assorted mansions that were set to be demolished, his band days, and his bar-backing adventures. Find out which scent is "t…

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Ep 146 ft. Mitu & Mark 37:08

11M ago37:08

37:08

The Penalty Doctrine in Contract LawWe've never been fans of the contract law rule against penalties. Why can't parties (sophisticated ones at least) agree to suffer a penalty in the event of breach? We’d ordinarily avoid this topic, because the doctrine makes little sense and the issue doesn’t come up much in the sovereign debt world. But recently…

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Ep 68: Zach Day - Santal + Pumpkin (Kringle) 56:35

11M ago56:35

56:35

Your favorite candle podcast is back after a long hiatus! This week, Selena chats with singer/songwriter Zach Day who is in his candle era and eager to share it with you! Zach shares his candle journey, from the hollers of Appalachia to the stages of Hollywood on THE VOICE! Plus, Zach shares a HUGE update about his newest collab. ENJOY then subscri…

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Ep 145 ft. Mitu & Mark 30:37

12M ago30:37

30:37

A New Competition For Law (and Jurisdiction)?Jurisdictions famously compete for businesses to use their corporate law. Less discussed is the competition for having one’s law chosen to govern contracts. But it happens. Sovereign debt lawyers in England and New York can, if they have a few drinks in them, can be quite entertaining in their sniping at…

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Ep 144 ft. Nate Oman 35:00

12M ago35:00

35:00

An Execution Sale is Not a Receivership. (Right?)Creditors of Venezuela and PDVSA, its state oil company, have forced an execution sale of PDVSA's only US asset – which happens to be the ultimate parent company of CITGO. The federal judge overseeing the process has tried to keep things orderly, but the inter-creditor fighting is getting juicy. Some…

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Ep 143 ft. Mitu & Mark 36:08

1y ago36:08

36:08

Hamilton Bank v. Sri Lanka: What the $@#$ ?Accusations that Hamilton Bank is a giant fraudster stealing depositor funds, bizarro requests from Hamilton to the court that other creditors be constrained in using their contract rights against it, an amicus intervention in the case to say nothing at all . . . and on and on. This case gets more and more…

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Ep 142 ft. Theo Maret 40:02

1y ago40:02

40:02

Zambia’s Restructuring: A Post-MortemZambia’s recently concluded restructuring seemed to drag on forever, debilitated by conflicts among the various creditor groups. Why did these different groups think the others were being unreasonable in their demands? And what can we learn from what happened? Our guest is one of the keenest observers in the sov…

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Ep 141 ft. Mitu & Mark 36:22

1y ago36:22

36:22

The Champerty ShowAh, Champerty. Perpetual runner-up, to the doctrine of consideration, in the Stupidest Legal Rule pageant. Why do directly (e.g., via the abuse of process claim) what you can do clumsily and indirectly (by limiting an injured party’s access to finance)? But what do we know? Actually, not much. We do know that Venezuela/PDVSA won a…

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Ep 140 ft. Zohra Ahmed 36:26

1y ago36:26

36:26

IMF Rescues Pakistan From the Brink of Default (Again)Pakistan looks to be in the process of finalizing yet another IMF program. Yet again, it has been rescued from the brink of default with a bailout justified by some heroic assumptions about how a state of sustainability will magically materialize. Why? Our guest, Zohra Ahmed, of Boston Universit…

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Ep 139 ft. Oona Hathaway 44:21

1y ago44:21

44:21

A Better Way to Freeze (and Seize?) Russian Assets? Ever since Russia invaded Ukraine in 2022, there has been talk of what international law doctrines might be utilized to induce Russia to back off. One of those doctrines that has been whispered about is now, thanks to a wonderful new article by our guest, international law guru and Yale Law profes…

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Ep 138 ft. Randle DeFalco 39:34

1y ago39:34

39:34

Cambodia’s Debts to the US: How “Dirty” Are They?Roughly a half century ago, in the 1970s, the US infamously bombed Cambodia. Less known is that the US, through a “Food for Peace” program, made a series of loans to the somewhat dodgy government of General Lon Nol. The loans were made, at least in part, to assist Cambodians displaced by the bombings…

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Ep 137 ft. Joseph Cotterill 43:09

1y ago43:09

43:09

Ukraine's Preliminary Debt Restructuring DealUkraine reportedly has reached terms with a subset of its bondholders, agreeing to restructure the country's roughly $24 billion in bond debt. What to make of the deal? It seems (to our view) to be premised on the IMF's entirely unrealistic assumptions about Ukraine's future debt repayment capacity. The …

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Ep 67: Julia Olson - Slow Burn (Boy Smells x Kacey Musgraves) 52:37

1+ y ago52:37

52:37

Selena took about 6 few weeks off to dive into another podcast that she's now hosting (Betches Brides--be sure to tune in), but today she is back to give you the hot candle conversation that you love, sweet candleheads! This week her guest is true blue candlehead Julia Olson! Julia shares dramatic stories of two major candle incidents, her love of …

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Ep 136 ft. Andrew Wilkinson 43:48

1+ y ago43:48

43:48

Tortious Interference and Inter-Creditor DutiesCreditors in sovereign debt restructurings often complain about other creditors. And creditors often try to limit what other creditors get (at least indirectly, via most favored nations clauses, comparability of treatment, etc.). Can these efforts sometimes create a risk of liability? Does that risk ev…

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Ep 66: Hannah Sutker - Trader Joe's Fresh Currant 55:09

1+ y ago55:09

55:09

This week, Selena sits down with writer and podcasting first-timer Hannah Sutker for some hot candle convo! Hannah is not afraid to "name and shame" everyone in her candle journey, from airing herself out as a youngster to proclaiming the WORST Trader Joe's candle as an adult. The gals talk about the infamous Chris Evans candle, Diptyques the size …

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Ep 135 ft. Ben Heller 33:27

1+ y ago33:27

33:27

El Salvador’s Warrants: Bukele’s Folly?El Salvador has issued a new bond, using part of the proceeds to buy back some bonds that mature in the relatively near term. The issuance includes a detachable warrant that pays up to an additional 4% if El Salvador does not get an IMF program in place soon (or achieve a higher credit rating). The issuance ha…

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Ep 65: Paisley Fields - Mahogany Teakwood 38:14

1+ y ago38:14

38:14

Selena took a brief hiatus from TWM, which she addresses at the top of the episode, but we are back! This week, Selena chats with singer, songwriter, and candlehead Paisley Fields (@PaisleyJamesFields on Insta, @PaisleyFields on TikTok) about his candle journey, from Mall of America candlemaking with his show choir candle crew to Yankee Candle grab…

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Ep 134 ft. Mitu & Mark 30:54

1+ y ago30:54

30:54

The Latest in the Argentine GDP Warrant Saga: Drafting Goof or Sneaky Drafting?There are so many intriguing aspects of the latest installment of the Argentine GDP Warrant Saga. This time, from Judge Preska in the SDNY, Argentina scores a big, and for us, totally unexpected victory. Argentina’s lawyers, at a very late stage, discovered a magic bulle…

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Ep 133 ft. Jerome Sgard 44:26

1+ y ago44:26

44:26

Lessons from the 1980s Debt CrisisThe 1980s debt crisis began in Mexico and engulfed countries around the world, leading, via the Brady Plan, to the revival of the bond markets. Beyond that, we confess to relatively little knowledge about this fundamental episode in sovereign debt history. For so many of the leading lights of the contemporary sover…

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Ep 132 ft. Ingrid Brunk & Paul Stephan 43:34

1+ y ago43:34

43:34

A Way to Use Frozen Russian Assets to Help Ukraine?There has been much chatter lately about a proposal from Lee Buchheit, Daleep Singh and Hugo Dixon to address concerns in Western nations about using frozen Russian assets to get Ukraine much needed war financing. One might ask why these nations are so concerned about confiscating Russian assets wh…

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Ep 131 ft. Mitu & Mark 40:33

1+ y ago40:33

40:33

Ukrenergo ConfusionRumor has it that holders of bonds issued by Ukrenergo, the state-owned corporation that runs Ukraine's electricity distribution system, expect to get better treatment in a debt restructuring, even though their bonds are guaranteed by the state and at least arguably can be forced to vote alongside holders of Ukrainian sovereign b…

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Ep 130 ft. Kejal Vyas 35:30

1+ y ago35:30

35:30

Who Benefits from Lifting Sanctions on Buying Venezuelan Bonds?Banning U.S. parties from buying Venezuelan bonds was probably a bad idea. But was it a good idea to lift the ban last fall? Investors apparently sold the Biden administration on the idea that lifting the ban would yield big benefits: bonds had migrated into the hands of parties acting …

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Ep 64: Kathleen McGivney - Fairuza Balk's Vestacha International Candle 1:10:35

1+ y ago1:10:35

1:10:35

This week, Selena chats with candlehead Kathleen McGivney (@kmcgivney on Insta and CEO of @redbarcrew on Insta), a woman who witnessed Selena’s triumphant candle win at Linda Loves Bingo back in December! They discuss that fateful night and, of course, Kathleen’s candle journey, from goth teen intention candles to party tablescapes to candle ritual…

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Ep 129 ft. Mitu & Mark 23:28

1+ y ago23:28

23:28

The Last Sovereign Bond in New YorkDue to litigation over the PDVSA 2020 bond, all future issues of sovereign bonds in New York have been canceled, effective immediately. (PDVSA is quasi-sovereign, but whatever...) You may have heard that New York’s highest court has ruled that investors cannot enforce sovereign bonds, period. Well, maybe that's no…