The International Insolvency Institute has a committee on sovereign insolvency. The link contains a number of excellent papers on the subject.
The papers presently available from this web-site are:
Committee Materials:
Un procedimiento jurdico de insolvencia para estados
By Prof. Dr. Christoph G. Paulus
Berlin, Germany
December 2002
Do “Odious Debts” Free Over-indebted States from the Debt Trap?
By III Berlin Member, Christoph G. Paulus
November 2005
Proposed Frameworks for Sovereign Debt Restructuring
By David H. Levey, Moody’s Investors Services
New York, New York
September, 2002
A Legal Order for Insolvencies of States
By III Member Dr. Christoph G. Paulus, Humbolt-Universität zu Berlin
(Submitted for publication in the Cornell International Law Journal)
New York
August, 2002
Two-Step Sovereign Debt Restructuring
By Ed Bartholomew, JP Morgan
New York, New York
April, 2002
Early Ideas on Sovereign Bankruptcy Reorganization
By Kenneth Rogoff and Jeromin Zettelmeyer, International Monetary Fund
March 2002
The Introduction of Collective Action Clauses in UMS’s Bond
By Alonso Garcia Tames
En el camino hacia reglas internacionales para insolvencias publicas
By III Member Prof. Christoph Paulus, Humboldt-Universität zu Berlin
Berlin, Germany
March, 2002
The Evolution of Emerging Market Capital Flows: Why We Need to Look Again at Sovereign Debt Restructuring
By Anne Krueger, First Deputy Managing Director, International Monetary Fund
(Presented at the Economics Society Dinner, Melbourne, Australia, January 21, 2002)
Dealing Justly With Debt
By Dr. Jack Boorman, International Monetary Fund, Washington, D.C.
(Presented at the Carnegie Council on Ethics and International Affairs, New York)
April, 2003
Report of the Managing Director to the International Monetary and Financial Committee on a Statutory Sovereign Debt Restructuring Mechanism
By Hans Kohler
April, 2003
Sovereign Debt Contracts: What Do We Need to Change?
By Michael M. Chamberlin, EMTA (Emerging Markets Traders Association), New York
(Presented at the Institute of International Finance (IIF) Conference Can We Break the Crisis Cycle for Emerging Markets?, London)
October, 2002
New Approaches to Sovereign Debt
By III Member Thomas Benes Felsberg, Felsberg e Associados,
São Paulo, Brazil
March, 2003
Improving the Sovereign Debt Restructuring Process: Problems in Restructuring, Proposed Solutions, and a Roadmap for Reform
By Nouriel Roubini and Brad Setser (Prepared for the Conference on “Improving the Sovereign Debt Restructuring Process” co-hosted by the Institute for International Economics and Institut Français des Relations Internationales, Paris, March 9, 2003)
Sovereign Bond Defaults, Rating Transitions, and Recoveries
By David H. Levey, Moody’s Investors Services, New York
New York, New York
February, 2003
Sovereign Debt Restructuring: Where Stands the Debate?
By Dr. Jack Boorman, International Monetary Fund, Washington, D.C.
(Presented at the Conference cosponsored by the CATO Institute and The Economist, New York)
October, 2002
Some Thoughts on an Insolvency Procedure for Countries
By Prof. Dr. Christoph G. Paulus
Berlin, Germany
January 2002
A Global Solution to Multinational Default
By III Member Prof. Jay L. Westbrook, University of Texas School of Law
(Published in the Michigan Law Review. Reprinted with permission.)
Austin, Texas
2000
“Idiot’s Guide” to Sovereign Debt Restructuring”
Published in the Emory Law Journal, Volume 53, Special Edition, 2004
By III Member Prof. Steven L. Schwarcz, Professor of Law , Duke University
On The Way Towards International Rules For State Insolvencies
By Prof. Dr. Christoph G. Paulus
Berlin, Germany
April 2002
Currencies, Crises and Crashes
By Prof. Peter B. Kenen, Department of Economics, Princeton University
(Published in Eastern Economic Journal: Reprinted with Permission)
Winter, 2002
Revisiting the IMF’s Sovereign Bankruptcy Proposal and the Quest for More Orderly Sovereign Work-Outs
By Michael M. Chamberlin, EMTA (Emerging Markets Traders Association), New York
(Presented at the Conference Sovereign Debt Workouts: Hopes and Hazards’, Institute for International Economics, Washington, D.C.)
April, 2002
The Design of the Sovereign Debt Restructuring Mechanism – Further Considerations
Legal and Policy Development and Review Departments, International Monetary Fund
November 2002