The Max Planck Institute Luxembourg for International, European and Regulatory Procedural Law organises a series of lectures on sovereign debt (see here). In the absence of an international legal framework, the process of sovereign debt structuring remains fragmented and uncertain. This is best illustrated by the decade and a half of litigation that followed Argentina’s sovereign bond default in 2001 (read here).
The first two lectures (“The Law and Economics of Sovereign Debt and Default” and “Sovereign Debt Restructuring and International Law”) can be found here.
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See also (Yale Journal of International Law, Special Edition on Sovereign Debt): http://campuspress.yale.edu/yjil/volume-41-special-edition/