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Unpacking Economic and Social Rights: International and Comparative Dimensions - Conference

The Goettingen Journal of International Law is pleased to announce that we will take part in a conference in November 2018. The joint research project of the Institute of International and European Law of the University of Göttingen and the Minerva Center for Human Rights at the Hebrew University of Jerusalem Faculty of Law will be holding this conference in Göttingen, Germany under the title “Unpacking Economic and Social Rights: International and Comparative Dimensions”. The conference is a culmination of a joint research project directed by Prof. Tomer Broude and Prof. Andreas L. Paulus and examines economic and social rights from a comparative perspective, looking at German, Israeli and European legal systems and their respective constitutional, legislative and jurisprudential experiences, as well as the universal human rights framework under the auspices of the United Nations. In addition to this call, Prof. Paulus and Prof. Broude, junior researchers of the project and associate and invited scholars will present their research at the conference.

Scholars who work on economic and social rights are invited to submit abstracts. The proceedings of the conference and papers presented will be published in one of our upcoming issues. See the call for papers and the conference website for more details.

Deadline for submission of Abstracts: 1 June 2018. Accepted proposals will be notified by 1 July 2018. Full papers due for submission by 1 November 2018.

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Lending and Sovereign Insolvency: A New Criterion to Distribute Losses among Creditors

Juan Pablo Bohoslavsky



This article argues that there are legal and economic justifications for extending the principle of responsibility for granting abusive loans from private law to a general principle of international law and, as such, that it can and should be applied to matters of sovereign insolvency. Employing this rationale, the article develops concrete legal and economic reasons and mechanisms by which the financial losses that any sovereign insolvency imposes on creditors should be distributed among them.

In particular, the article takes the position that loans, which are granted to states without following the most elementary prudential guidelines with regard to the analysis of credit risk and which are granted with the intention of taking unfair advantage at expense of the other creditors, should be totally or partially subordinated to those not classified as abusive in the case of sovereign bankruptcy. While the effects of this principle mostly coincide, in practice, with those of the first-in-time rule, it is argued that insolvent sovereigns and creditors must respect this criterion when proposing, negotiating and agreeing on a restructuring.


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