The chapter analyses the scope of protection for creditor claims in international law. This chapter reviews some of the decisions of international courts and tribunals on creditor claims, and indicates general tendencies on the protection of creditor claims in international law. The first part...

In October 2008, Iceland's banking system collapsed. Within a week, the three major banks comprising ninety percent of the Icelandic banking system had failed. A long-running dispute on who ought to pay for the deposits in failed Icelandic banks has poisoned relations between Iceland, the United...

Assessing the legitimacy of any legal system is hard, but especially if the system in question is the volatile and contested field of international law. Recognizing limits of space and my capabilities, I reframe the task for this chapter. Rather than defending or attacking the legitimacy of...

Counterclaims are claims raised by respondents. Various international courts and tribunals have expressed their jurisdiction to hear counterclaims as an emanation of their inherent powers, even though their constitutive instruments are silent. Modern rules of court often contain provisions on...

This chapter explores how the wide range of interpreters that populate international law, forming part of interpretive communities, affects interpretation in international law. To understand how interpretation in international law works in practice, we need to appreciate the role of interpretive...

Ten years after the global financial crisis (“GFC”) that started in 2007, the time has come to take stock of the international regulation of finance. This report assesses the causes and consequences of the GFC and the broader context of the changes in the international financial system since...

The old understanding of international law as something created solely by and for sovereigns is defunct. Today the production and enforcement of international law increasingly depends on private actors, not traditional political authorities. As with other public services that we used to take for...

In this paper, forthcoming in the Virginia Law Review, I explore the role of litigation as a policy-making and rule-generating process in the context of a democratic republic. In democracies, legislatures redistribute wealth, rights, and privileges; debate rages over the direction of this...