
Ep 129 ft. Mitu & Mark
Clauses & Controversies
Standard Local Law Provision in Sovereign Bonds
A significant percentage of sovereign bonds have governing law provisions stating that matters of validity will be determined by the local law of the country issuing the bonds. This standard provision was highlighted in the case of Venezuelan bonds, which adopted this provision from a template borrowed from Argentina, while initially missing it in Peta Vesa bonds sourced from a corporate template.
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