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New York is now taking a stab at improving the mechanisms available to sovereigns restructuring their debt. This comes as no surprise, because New York law governs approximately half of all sovereign bonds issued globally.

New yorkUnited statesSquire patton boggAssembly billInternational monetary fundSee assembly billSenate billElliott associatesComprehensive mechanismSovereign debtNew york banking lawNew york governedSupremacy clauseBankruptcy codeContracts clauseProposed article