In another Argentinian State bankruptcy case the German Federal Constitutional Court once again rejects the existence of a state of necessity as a general principle of international law

Published: 24 October 2019  Author: Julia Wagner  DOI: 10.17176/20220113-170720-0

In an Order published on July 3, 2019, the German Federal Constitutional Court did not admit for decision two constitutional complaints lodged by the Republic of Argentina concerning the Argentine debt crisis. In these complaints, Argentina once again argued that a general principle of international law conferred upon States the right to refuse debt service on bonds held by private creditors who – in contrast to the vast majority of creditors – had not accepted a conversion offer (debt swap) made by the issuing State in the context of a national debt crisis, seeking full payment of the debt instead. (more…)

In another Argentinian State bankruptcy case the German Federal Constitutional Court once again rejects the existence of a state of necessity as a general principle of international law Read More