01745cas a2200241 a 4500 AALejournalIMF008361 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451843026 1018-5941 BD-DhAAL BD-DhAAL Bolton, Patrick. Toward a Statutory Approach to Sovereign Debt Restructuring : Lessons From Corporate Bankruptcy Practice Around the World / Patrick Bolton. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization institutions: a stay on debt collection efforts to prevent a costly run for the assets, broad enforcement of absolute priority, majority voting among creditors on the proposed reorganization plan, and new higher priority financing to keep the firm going while its liabilities are restructured. The paper argues that these components ought to be present in any sovereign debt restructuring procedure. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2003/013 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/013/001.2003.issue-013-en.xml IMF e-Library