AnthroPod is produced by the Society for Cultural Anthropology. In each episode, we explore what anthropology teaches us about the world and people around us.
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Content provided by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
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Ep 160 ft. Mitu & Mark
MP3•Episode home
Manage episode 490429222 series 2911580
Content provided by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
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, international bonds also provide that, if the issuer imposes any taxes on bond payments, it must "gross up" payments to foreign investors, so the tax does not reduce their payments. Together, the two clauses usually immunize foreign investors from taxes imposed by the issuer but leave room for taxes imposed by the place of payment. Ukraine's bonds are different. They seem to leave room for Ukraine to impose its own "fiscal" law on payments. Arguably, they leave investors subject even to local laws that aren't fiscal in nature. Might this be a source of leverage for the country in its negotiations with GDP warrant holders, who have so far refused to make concessions in restructuring talks? Producer: Leanna Doty
…
continue reading
160 episodes
MP3•Episode home
Manage episode 490429222 series 2911580
Content provided by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Clauses & Controversies, Mitu Gulati, and Mark Weidemaier or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
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, international bonds also provide that, if the issuer imposes any taxes on bond payments, it must "gross up" payments to foreign investors, so the tax does not reduce their payments. Together, the two clauses usually immunize foreign investors from taxes imposed by the issuer but leave room for taxes imposed by the place of payment. Ukraine's bonds are different. They seem to leave room for Ukraine to impose its own "fiscal" law on payments. Arguably, they leave investors subject even to local laws that aren't fiscal in nature. Might this be a source of leverage for the country in its negotiations with GDP warrant holders, who have so far refused to make concessions in restructuring talks? Producer: Leanna Doty
…
continue reading
160 episodes
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