Lebanon can threaten to take the following three actions to restructure its debt and weaken the position of a potential … a successful judgment against Lebanon to senior creditors.In the event that Lebanon fails in these three actions …, Lebanon can still rely on the necessity doctrine as an affirmative defense …

To restructure its debt, the Republic of Lebanon should conduct an exchange offer that transfers existing bonds into …-participating creditors. The exchange offer should also solicit consent to modify the forum selection clause in the old bonds, making Lebanon …