Travel time is a good operational measure of the effectiveness of transportation systems. The ability to accurately predict motorway and arterial travel times is a critical component for many intelligent transportation systems (ITS) applications. Advanced traffic data collection systems using...

How would the sovereign debt community react to NML Capital Ltd. decision?To date, nearly all literature on sovereign debt issues has focused on deterring holdout behavior in foreign bonds restructuring, from a majority voting system to a stay on enforcement. However, the NML Capital Ltd....

Lack of support for the Sovereign Debt Restructuring Mechanism (SDRM) discussion at the IMF a decade ago has encouraged several debt NGOs to actively advance proposals for sovereign debt arbitration - a bankruptcy-type arbitral tribunal to handle sovereign debt disputes in a collective manner....

In May 2013, several bondholders who refused to participate in the 2012 Greek debt restructuring initiated arbitration at ICSID against Greece under bilateral investment treaties. These bondholders contend that they were forced to exchange their bonds for new securities of substantially lesser...

In 2003, the IMF abandoned its proposal for a treaty-based framework to restructure sovereign debt. Triggered by lessons from the Greek debt restructuring and Argentine bondholder litigation, the IMF revisited potential reforms of sovereign debt restructuring in May 2013. This paper introduces...

On 6 October 2014, the Executive Board of the International Monetary Fund (“IMF”) approved the staff paper on “Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring”. Among other things, the staff paper advocates in favor of a...