
Clauses & Controversies
Ep 136 ft. Andrew Wilkinson
May 20, 2024
Andrew Wilkinson, an expert in sovereign debt restructurings, discusses the risks of liability in creditor complaints, the use of tortious interference with contract in the Zambia debt restructuring, and the importance of fair treatment for all stakeholders in restructuring deals. He shares insights on the complexities of navigating bankruptcy law, managing creditor negotiations, and achieving successful outcomes in financial restructurings.
43:48
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Quick takeaways
- In sovereign debt restructurings, conflicts arise over the treatment of creditors, leading to potential liability risks, including invoking tortious interference with contracts.
- Achieving fair comparability treatment in negotiations between official and commercial creditors in sovereign debt restructurings is complex, emphasizing the need for flexibility and the avoidance of litigation to advance restructuring.
Deep dives
Background and Transition to Sovereign Deals
Andrew Wilkinson, a UK-based restructuring lawyer, shares his journey from a London firm to a US firm, highlighting his transition to restructuring and bankruptcy law, influenced by experiences in New York. Engaging in the Ukraine debt restructuring in 2015 marked his pivot to sovereign deals. The shift from corporate to sovereign work provided Wilkinson with demanding and high-profile cases under English law, aligning with the rise of sovereign debt restructurings.
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