EMTA Webinar: Proposed NY and UK Legislation: Is Jurisdiction Change on Governing Law a Possible Answer?

Sponsored by

10:00 a.m. – 11:15 a.m. New York / 3:00 p.m. – 4:15 p.m. London

Panel Discussion
Dennis Hranitzky (Quinn Emanuel Urquhart & Sullivan) – Moderator
Deborah Zandstra (Clifford Chance)
Steven Schwarcz (Duke University Law School)
Ben Heller (HBK Investments)
David Knutson (Schroders Investment Management Limited and The Credit Roundtable)
Brian Pfeiffer (White & Case)

Read speaker bios.

Legislative proposals to address perceived imperfections in the restructuring process for sovereign bonds issued under NY law have been made in Albany, and such proposals are expected to come in the UK for English law-governed bonds.  Opinion on whether such legislation will be helpful or harmful to sovereign capital markets is divided.  If such legislation is enacted in NY or in the UK, some have proposed that trigger provisions be included in new sovereign bonds that would permit an amendment by bondholder vote to change the governing law to Florida, Texas or Delaware.   

This panel will briefly canvass the legislation affecting sovereign debt that has been introduced or proposed in recent years and the justifications for such legislation offered by its proponents.  The panelists will then discuss alternatives to new legislation as a means to address these concerns, and whether it would be desirable or feasible to change the law governing new sovereign debt to a new jurisdiction such as Texas, Florida or Delaware.  A comparison of salient provisions under the laws of the New York, Texas, Florida and Delaware will be provided to attendees.

Registration fee for EMTA Members: US$50 / US$495 for Non-members.  

This event is not open to the media, and is off the record.

This Webinar is part of a continuing series of panels and presentations that EMTA is pleased to sponsor on various topics of interest to Emerging Markets investors and other market participants and is part of EMTA’s Legal & Compliance Seminars*.

*CLE credit will be available for NY attorneys.  This Webinar is non-transitional and appropriate for experienced attorneys only.  Please click here for details on EMTA’s Financial Hardship Policy.

A summary of this event is available to EMTA Members in our 23Q4 Quarterly Bulletin.