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During the past decade, most sovereign debt issued under foreign law has included collective-action clauses (CACs).
One shows the importance of holding sovereign debt issued under foreign law, the other the futility of doing so.
But some of the bonds were issued under foreign law, and those bondholders could not be forced to give in.
And the bonds often specify that any disputes will be settled under foreign law — usually United States or British law.
Countries that want cheaper financing can sell debt under foreign law, which requires them to abide by the contract's original terms.
They reckon there may be a total of €30 trillion-worth of cross-border exposure under foreign law, including bonds, loans, derivatives and swaps.
Similar(48)
"But where this reform really needs to occur is at a federal level so that all same-sex couples married under foreign laws – be they Australians or foreigners – have equal protection no matter where they are in Australia," he said.
Some of them mistakenly believe that the drug laws of other countries are more lenient than ours or that United States citizens are not subject to prosecution under foreign laws.
The proposed legislation would let US judges issue warrants for data but would also allow companies to object if the request clashed with their obligations under foreign laws.
(See McCauly v. First Trust & Savings Bank, C.C.A. Ill. 1921, 276 F. 117. See, also National Labor Relations Board v. Blackstone Mfg. Co., C.C.A. 1941, 123 F. 2d 633). The fact that the contemnor was incorporated or organized under a foreign law or under the laws of a particular State or Territory would hardly be relevant to the issue of criminal contempt.
The question for the dissenters was "not whether [Wong Kim Ark] was born in the U.S. or subject to the jurisdiction thereof... but whether his or her parents have the ability, under U.S. or foreign law, statutory or treaty-based, to become citizens of the U.S. themselves".
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