Randle DeFalco, a legal expert from Widener University Law School, dives into the intricate history of Cambodia's debts to the US stemming from controversial loans in the 1970s. He explores the moral dilemmas surrounding these debts, especially given the US's role in supporting a dubious government during a tumultuous period. The conversation examines colonialism's lingering effects, Cambodia's struggles for sovereignty amid coups, and the implications of repaying loans tied to violations of international law. This complex narrative raises essential questions about justice and historical grievances.

In this discussion, Joseph Cotterill, a Financial Times expert, delves into Ukraine's ambitious debt restructuring deal amid ongoing conflict, addressing the unrealistic IMF projections and bondholder dynamics. He explains the complexities of including state-owned enterprise debts like Ukrenergo and the urgency behind restoring investor confidence. The conversation also touches on Mozambique's contentious tuna bonds saga, including a recent High Court ruling that awarded significant damages and the ramifications of corruption and legal battles on the country's financial landscape.

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.

Featuring Ben Heller, the podcast delves into El Salvador's unique bond issuance with a warrant tied to IMF deal and credit rating. The discussion highlights the complexities of financial warrants, governance-linked bonds, and the debate surrounding bond proceeds for buybacks. It also emphasizes the importance of transparent EM debt contracts for investor clarity.

The Latest in the Argentine GDP Warrant Saga: Drafting Goof or Sneaky Drafting? There are so many intriguing aspects of the latest installment of the Argentine GDP Warrant Saga. This time, from Judge Preska in the SDNY, Argentina scores a big, and for us, totally unexpected victory. Argentina’s lawyers, at a very late stage, discovered a magic bullet that no one seems to have realized was there. Mark doesn’t like to use the term “contractual landmine”, but he does here. Mitu applauds. Producer: Leanna Doty

Jerome Sgard discusses the 1980s debt crisis and the Brady Plan, unraveling the hidden history of sovereign debt crises. Topics include the complexities of restructuring, sovereign debt litigation dynamics, and the US government's position. Explore the non-contractual nature of standby agreements, secret buybacks, and strategies for market re-entry.

Financial experts Ingrid Brunk and Paul Stephan discuss utilizing frozen Russian assets to aid Ukraine, exploring legal complexities and political implications. They delve into asset confiscation proposals, navigating reparations, and addressing global financial risks amidst de-dollarization trends.

Confusion surrounds the treatment of Ukrenergo bondholders in debt restructuring. The podcast explores complexities of Ukrainian bond guarantees, modification implications, and interactions with the IMF. Discussions on state-owned companies efficiency, financial restructuring, and guarantee implications for Ukraine add depth to the episode.

Discussion on the impact of lifting sanctions on purchasing Venezuelan bonds, influencing geopolitics and bond ownership. Kejal Vyas sheds light on the policy shift and complexities surrounding Venezuelan debt restructuring amidst US sanctions and lobbying efforts.

Exploring the implications of a legal decision on financial bonds, focusing on the validity of collateral under Venezuelan and New York laws. Analysis of the New York Court of Appeals ruling and criticism from market reactions. Discussion on the prevalence of local law provisions in sovereign bonds and the importance of clear authorization processes for corporate and state-owned bonds.