The White & Case Sovereign Focus provides brief updates on the latest issues and trends related to sovereigns, public sector clients and their counterparts.
2024
Explore Trendscape Our take on the interconnected global trends that are shaping the business climate for our clients.
Debt-for-nature swaps – a promising alternative to traditional financial sources
17 December 2024 - On 16 October 2024, the Republic of El Salvador ("El Salvador") announced the financial close of a US$1 billion debt-for-nature ("DFN") swap, which was both the world's largest conservation-focused operation of this kind to date and the world's largest DFN conversion for river conservation.
Critical Minerals Supply Chains: The Minerals Security Partnership and Trade-Related Challenges
07 October 2024 | Insight - Critical minerals have become one of the most sought-after commodities in recent years. Since critical minerals are essential for the development of clean energy and other modern technologies, demand for those minerals is expected to further increase in the future.
Ukraine concludes historic restructuring of US$20.5 billion of international bonds
10 September 2024 - On 3 September, 2024, Ukraine announced that it successfully concluded the restructuring of approximately US$20.5 billion of Ukraine's international bonds and the sovereign-guaranteed debt obligations of the State Agency for Restoration and Development of Infrastructure (Ukravtodor), exactly three months from the date Ukraine first entered into restricted negotiations with the representative bondholder committee.
The Government of Georgia defeats an ICC arbitration claim of US$ 1.5 billion at its highest over its termination of an investment agreement for the development of the Anaklia Port
05 August 2024 - On 29 July 2024, an ICC arbitration tribunal, chaired by Stephen Drymer and including Jean Kalicki and Charles Adams as co-arbitrators, issued, by majority, an award in favour of the Government of Georgia in a high-profile ICC dispute initiated by Anaklia Development Consortium (ADC).
The Republic of Mozambique wins multibillion-dollar corruption case in the English High Court against Lebanese shipbuilding group, Privinvest
31 July 2024 - Five years since the Republic of Mozambique issued its claim in the English High Court against Privinvest and other participants in one of the largest sovereign corruption scandals of modern memory – the so-called "Tuna Bond" scandal – the Court has handed down its judgment in favour of the Republic.
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