Anticipating and mitigating the legal risks resulting from default on external debt from China

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dc.contributor.authorOdhiambo, Moses Antony
dc.date.accessioned2023-01-18T05:51:35Z
dc.date.available2023-01-18T05:51:35Z
dc.date.issued2022
dc.descriptionA Thesis submitted in partial fulfillment of the requirements of the Degree of Master of Laws, at Strathmore Universityen_US
dc.description.abstractIn the absence of legal provisions anticipating and protecting against the legal risks of default on external debt from China (a non-Paris Club creditor), Kenya remains exposed to insolvency or debt restructuring procedures that are unclear and not standardized. Even though the government is on a strategic move to cover the infrastructure gap in the country, the people of Kenya shall remain constantly confronted with longstanding legal and economic consequences owing to the absence of a regulatory framework that would inform sustainable debt strategies. The following study therefore investigates the legal risks incidental to such debt that Kenya has been procuring through bilateral loans with China despite alternative low-cost concessional finance for the development of critical infrastructure in the country. As such, the study seeks to delineate the parameters and metrics that would inform a legal framework that anticipates and guards against the detrimental effects of such risks, drawing from the principles of traditional lending and debt restructuring under the Paris Club. This is based on analysing the legal risks and weighing them against conventional principles of sovereign debt to examine the magnitude of the risks and possible mitigation through legislative and policy interventions.en_US
dc.identifier.urihttp://hdl.handle.net/11071/13054
dc.language.isoenen_US
dc.publisherStrathmore Universityen_US
dc.subjectNon-Paris Club creditorsen_US
dc.subjectExternal debten_US
dc.subjectDefaulten_US
dc.subjectDebt restructuringen_US
dc.subjectChina debten_US
dc.titleAnticipating and mitigating the legal risks resulting from default on external debt from Chinaen_US
dc.typeThesisen_US
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LLM Theses and Dissertations (2022)