This book review probes Michael Waibel’s new book, Sovereign Defaults Before International Courts and Tribunals. Waibel's project is ambitious, exploring international attempts to address sovereign defaults over the past century and a half. Through painstaking and comprehensive historical analysis, Waibel shows how we've been here before -- a sober reminder for those thinking Argentina is simply part of a new fad in financial default. With the UN now turning its attention to sovereign debt issues, this study is especially timely. Although somewhat disappointing in the lightness of its normative content, the book should nevertheless prove helpful to those considering the role adjudicative tribunals (especially arbitral ones) might play in this current round of reform recommendations.
Pottow, John A. E., co-author. Review of Sovereign Defaults Before International Courts and Tribunals, by M. Waibel. E. H. Iversen, co-author. Banking & Finance Law Review 30, no. 2 (2015): 387-91.