English Abstract: There is a growing consensus that Venezuela will not be able to persist for much longer with its policy of full external debt service. The social costs are just too great. This implies a debt restructuring of some kind. Venezuela, principally through its state-owned oil...

English Abstract: The pari passu fallacy, first uncloaked in 2000, holds that when a sovereign borrower promises to maintain the equal ranking of a debt with the borrower's other senior indebtedness, it thereby implicitly promises to pay all of those debts on a ratable basis. In its 18-year life...

Spanish Abstract: En los años recientes, las crisis derivadas de deudas públicas han recibido mucha atención desde el punto de vista de la política pública internacional, pero todavía está pendiente la maduración de una efectiva solución legal a los defaults soberanos dentro del derecho...