Will the Flip Clause Enter the Canon?
Contract innovation is rare in sovereign debt markets, so we are interested whenever someone adds a new clause to the existing set of canonical forms. A number of innovations have appeared in 2025, one of which is the "flip clause." The clause allows investors to opt out of the governing law and enforcement jurisdiction initially chosen in the debt instrument. We have some questions about the clause and doubt that in its current form it will gain widespread acceptance. Right now, it seems more symbol than substance — a way to metaphorically flip off the New York legislature.
Producer: Leanna Doty
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Will the Flip Clause Enter the Canon?
Contract innovation is rare in sovereign debt markets, so we are interested whenever someone adds a new clause to the existing set of canonical forms. A number of innovations have appeared in 2025, one of which is the "flip clause." The clause allows investors to opt out of the governing law and enforcement jurisdiction initially chosen in the debt instrument. We have some questions about the clause and doubt that in its current form it will gain widespread acceptance. Right now, it seems more symbol than substance — a way to metaphorically flip off the New York legislature.
Producer: Leanna Doty
Ep 147 - YPF and Argentina’s Contributions to International Law (ft. Paul Stephan)
Clauses & Controversies
47 minutes 48 seconds
1 year ago
Ep 147 - YPF and Argentina’s Contributions to International Law (ft. Paul Stephan)
YPF and Argentina’s Contributions to International Law
Argentina owes over $16 billion in connection with its nationalization of state oil company YPF. A federal judge in the Southern District of New York is considering whether to order Argentina to hand over its shares in YPF — technically located outside the United States — to pay part of the judgment. Can it do that? Paul Stephan (Virginia) joins to talk about how foreign state property located outside the United States is (and is not) protected by the law of foreign sovereign immunity, residual common law protections, and doctrines like comity.
Producer: Leanna Doty
"Shades of Spring" Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 4.0 License
http://creativecommons.org/licenses/by/4.0/
Clauses & Controversies
Will the Flip Clause Enter the Canon?
Contract innovation is rare in sovereign debt markets, so we are interested whenever someone adds a new clause to the existing set of canonical forms. A number of innovations have appeared in 2025, one of which is the "flip clause." The clause allows investors to opt out of the governing law and enforcement jurisdiction initially chosen in the debt instrument. We have some questions about the clause and doubt that in its current form it will gain widespread acceptance. Right now, it seems more symbol than substance — a way to metaphorically flip off the New York legislature.
Producer: Leanna Doty
