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Clifford Chance

Clifford Chance
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Sovereign Debt Restructuring: Active New York Assembly Bill providing for a new comprehensive sovereign debt restructuring mechanism and a limit on recoveries on sovereign debt

11 March 2024

In our client briefing of May 2023 we referred to three active bills in the New York Assembly which, if enacted, would have had a material impact. Those three bills lapsed in the last session of the New York Assembly.

An amended version of one of those bills has now effectively become active again in the current session of the New York Assembly.

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