Necessity in the Time of Corona

11 Pages Posted: 15 Apr 2020

See all articles by Michael Chen

Michael Chen

Duke University School of Law

Charlie Fendrych

Duke University School of Law

Andres Paciuc

Duke University School of Law, Students

Date Written: April 13, 2020

Abstract

Like clockwork, Argentina is once again faced with restructuring its sovereign debt. A quick resolution to the latest episode in this saga is in everyone’s favor, but a certain pandemic gripping the globe has complicated things. Now is not the time to restructure: creditors are at their most tight-fisted, and accurate economic projections are nearly impossible. The necessity doctrine provides a potential avenue for Argentina to defer debt payments and postpone its restructuring until it weathers the COVID-19 crisis.

Keywords: Argentina; necessity doctrine; COVID-19; Articles on State Responsibility; Article 25; pandemic; sovereign debt

Suggested Citation

Chen, Michael and Fendrych, Charlie and Paciuc, Andres, Necessity in the Time of Corona (April 13, 2020). Available at SSRN: https://ssrn.com/abstract=3575182 or http://dx.doi.org/10.2139/ssrn.3575182

Michael Chen

Duke University School of Law ( email )

Durham, NC
United States

Charlie Fendrych

Duke University School of Law ( email )

210 Science Drive
Box 90362
Durham, NC 27708
United States

Andres Paciuc (Contact Author)

Duke University School of Law, Students ( email )

Durham, NC
United States

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