Default: The Landmark Court Battle over Argentina's $100 Billion Debt Restructuring

by Gregory Makoff
Default: The Landmark Court Battle over Argentina's $100 Billion Debt Restructuring cover
Good Books rating 4.33
Business and Economics
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Hardback • £24.00
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  • ID: 1194
  • Added: 2025-09-28
  • Updated: 2025-10-01
  • ISBN: 9781647123987
  • Publisher: Georgetown University Press
  • Published: 2024-02-01
  • Formats: 13
  • Reviews: 3

Default offers an in-depth look at Argentina's 2001 default on $100 billion in bonds and the subsequent legal battles that reshaped sovereign debt law. The book provides a meticulously documented account of the events, from the initial default through the intense negotiations and courtroom dramas that spanned over a decade. Gregory Makoff brings readers into the heart of the action, revealing the intricate workings of sovereign debt restructuring and the institutional, political, and legal pressures involved. This comprehensive study is essential for understanding the broader implications of sovereign debt crises and the roles of various stakeholders, including the IMF and international creditors. /n/n Pairing unbiased analysis with vivid character portraits and actual dialogue, Default is a cautionary tale that highlights the complexities and consequences of national debt. It is a must-read for academics, legal experts, investors, and anyone interested in the global financial system. The book's detailed exposition and global perspective make it a valuable resource for anyone seeking to understand the intricacies of sovereign debt and its far-reaching impact.

Reviews
CFA Institute Enterprising Investor · 2024-06-28
critical 4.00

The book is noted for its exploration of the theoretical limits of chaos theory in the context of Argentina's debt restructuring. It offers a critical perspective on the complexities of international finance.

This review delves into the book's examination of Argentina's debt restructuring as a case study in chaos theory. The reviewer appreciates the depth of analysis and the way the book tests the theoretical limits of financial chaos. They find the book to be a critical and insightful read, particularly for those interested in the intricacies of international finance. The review suggests that the book provides a unique perspective on the unpredictability and complexity of financial crises.

Quick quotes

    Argentina's debt restructuring tests the theoretical limits of chaos theory.

    As Henri Poincaré famously noted, 'An accumulation of facts is no ...'

    The book offers a critical perspective on the complexities of international finance.

Financial Times · 2024-04-19
comprehensive 4.50

The book is described as a fair and comprehensive look at the trial of the century for sovereign debt. It is lauded for its thorough examination of the legal and financial aspects of Argentina's debt crisis.

The Financial Times review highlights the book's fairness and comprehensiveness in covering the landmark court battle over Argentina's debt. The reviewer praises the author for providing a thorough and balanced account of the events, making it a valuable resource for understanding the legal and financial implications of sovereign debt restructuring. They note that the book offers a detailed and nuanced perspective on one of the most significant financial trials of our time, making it a must-read for anyone interested in international finance and law.

Quick quotes

    Gregory Makoff's book is a fair and comprehensive look at what became the trial of the century for sovereign debt.

    The book describes the fifteen-year conflict over Argentina's 2001 default that led to a decade of litigation in U.S. courts.

    It is a fascinating and valuable examination of one of the most consequential events in international finance in our lifetimes.

Harvard DRCLAS Revista · José Ignacio Hernández · 2024-04-12
instructive 4.50

The book is praised for its clear and amusing presentation of complex financial and legal concepts. It provides an instructive look at the messy process of sovereign debt restructuring.

José Ignacio Hernández finds the book to be a powerful and exciting read that demystifies the intricate world of sovereign debt. They appreciate how the author manages to present the subject in a surprisingly amusing way, making it accessible to a broader audience. The review highlights the book's ability to shed light on the often obscure inner workings of debt restructuring, offering valuable insights into one of the most significant financial events of our time. Hernández commends the author for turning a complex and messy topic into an engaging narrative.

Quick quotes

    Default is a powerful, exciting and instructive book that clearly and surprisingly amusingly presents the 'lengthiest, messiest sovereign debt ...'

    The book provides a fair and comprehensive look at what became the trial of the century for sovereign debt.

    It is a fascinating and valuable examination of one of the most consequential events in international finance in our lifetimes.

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