Category Archives: Ideas

The Three and a Half Minute Transaction: Boilerplate and the Limits of Contract Design

Last fall we gave a faculty workshop at the Hofstra University School of Law on an early version of our book manuscript, The Three and a Half Minute Transaction. The resulting debate was lively and the discussion ranged over a … Continue reading

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The Bankruptcy Ladder of Priorities and the Inequalities of Life

The excellent work, The Three and a Half Minute Transaction, raises some profound and intriguing questions about the documentation of some of the world’s largest and most important transactions by far and about what lawyers actually do. This Article raises … Continue reading

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The Pari Passu Interpretation in the Elliott Case: A Brilliant Strategy But an Awful (Mid-Long Term) Outcome?

Sovereigns can amass unsustainable debts, fueling the increasing need to restructure to prevent or resolve financial and economic crises and to achieve debt sustainability levels. From the 1990s, many sovereign debt restructuring episodes experienced difficulties because some bondholders did not … Continue reading

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The Pari Passu Clause in Sovereign Bond Contracts: Evolution or Intelligent Design?

In 1893, Robert Wiedersheim published a book on human anatomy that claimed to identify eighty-six human organs that had been rendered functionless by the process of evolution. A century of subsequent research has confirmed Wiedersheim’s findings for some organs and … Continue reading

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