This content is from: Features
How Ecuador escaped the Brady bond trap
When Ecuador defaulted on its Brady bonds in August 1999, it entered new territory for a sovereign issuer. More than a year later it seems to have answered many of the questions raised by its attempts to reschedule the debt. Lee C Buchheit of Cleary, Gottlieb, Steen & Hamilton, New York, adviser to the Republic, explains the challenges involved and the legal innovations used to save Ecuador from its default
To access our in-house intelligence please request a trial here.
Read this article – and more – for a one-week period.
REQUEST ACCESSAre you already an IFLR subscriber? Login here