Astrid Iversen

Associate Professor - Scandinavian Institute of Maritime Law

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Email astrid.iversen@jus.uio.no

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Visiting address Domus Media East Wing Karl Johans gate 47

Postal address Postboks 6706 St. Olavs plass 0130 Oslo

Other affiliations Department of Private Law

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Academic interests and background

Astrid conducts research within economic law in a broad sense, including international economic law, financial market regulation and contract law. She is generally interested in regulatory frameworks governing States’ use of markets when seeking to ensure public goods, in particular questions concerning central banking and sovereign debt.

Together with professor Mads Andenæs she leads the research project on central banks' expanding role in financial markets in times of crisis,

Before joining the Maritime Law Institute in 2024, Astrid worked as associate professor in law at Inland Norway University of Applied Sciences (2020-2024). Astrid holds a Master (2015) and PhD (2020) of law from the Faculty of Law, University of Oslo. An expanded and revised version of her PhD, Intercreditor Equity in Sovereign Debt Restructuring was published by Oxford University Press in 2023.

She has been a Visiting Scholar at the Lauterpacht Centre for International Law, University of Cambridge (autumn 2017), at Sciences Po Law School, Paris (spring 2023) and the European University Institute, Firenze (autumn 2023).

Astrid currently serves as a board member at the Norwegian Banks’ Guarantee Fund.

Teaching

Astrid has taught financial market regulation (JUS5880), theory of legal sources (JUS 4111)., law of obligations (JUS3112), public international law (JUS2111) and tort law (JUS1111). Astrid is currently not teaching but is open to supervision of master thesis (JUR5030 and JUR5060) and Ph.D. thesis, in particular on subjects related to international economic law and financial market law.

Research groups

Research projects

Central banks' expanding role in financial markets

Completed projects

Tags: Economic Law, Norwegian Central Bank, International Economic Law, Financial Market Regulation, Contract Law

Iversen, Astrid (2024). Sovereign Debt Restructuring and the Law: The Holdout Creditor Problem in Argentina and Greece. By Sebastian Grund. New York: Routledge, 2022. Pp. xvi, 182. Index. American Journal of International Law. ISSN 0002-9300.
Iversen, Astrid (2024). The European Central Bank and the European Macroeconomic Constitution. European Constitutional Law Review. ISSN 1574-0196. doi: 10.1017/S1574019623000317.
Iversen, Astrid (2023). Unilateral responses to an international problem: sustainable sovereign debt restructuring and the case for second-best solutions. Capital Markets Law Journal. ISSN 1750-7219. 18(3), p. 402–425. doi: 10.1093/cmlj/kmad012.
Iversen, Astrid & Andenæs, Mads (2022). Sovereign Powers and Debt Crisis Resolution . L'Observateur des Nations Unies. ISSN 1281-3389. 53(2), p. 17–36.
Iversen, Astrid (2022). Removing Barriers to Climate Change Litigation: The Progressive Erosion of Central Banks’ Immunity. European Yearbook of International Economic Law. ISSN 2364-8392. doi: 10.1007/8165_2022_98. Full text in Research Archive
Iversen, Astrid (2021). Distributed ledger technology and sovereign financing. In Chiu, Iris H-Y & Deipenbrock, Gudula (Ed.), Routledge Handbook on Financial Technology and Law . Routledge. ISSN 9780367344146.
Iversen, Astrid (2019). Vulture Fund Legislation. Banking & Financial Services Policy Report. ISSN 1530-499X. 38.
Iversen, Astrid (2019). The future of involuntary sovereign debt restructurings: Mamatas and Others v Greece and the protection of holdings of sovereign debt instruments under the ECHR. Capital Markets Law Journal. ISSN 1750-7219. 14(1), p. 34–58. doi: 10.1093/cmlj/kmy033. Full text in Research Archive
Iversen, Astrid (2018). Mamatas med flere v. Hellas: Bruk av tvang ved restrukturering av statlig gjeld og beskyttelse av obligasjonseiers eiendomsrett under EMK. In Kleineman, Jan (Eds.), Nordiska förmögenhetsrättsdagarna. Jure Förlag AB. ISSN 978-91-7223-706-3. p. 97–115. doi: 10.2139/ssrn.3195666.

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Iversen, Astrid (2023). Intercreditor Equity in Sovereign Debt Restructuring. Oxford University Press. ISBN 9780192866905. 272 p. Show summary
The book provides a comprehensive legal study of intercreditor equity—rules providing for equal and differential treatment of creditors—in sovereign debt restructurings. The question of intercreditor equity is one of the most conflictual issues in debt restructuring, both historically and today. It is paramount to creditors in the unfortunate event of a debt restructuring and it is equally important to debtor states so that they can manage restructuring processes as efficiently as possible and ensure a sustainable debt crisis resolution. The first aim of the book is to map and establish the content of intercreditor equity rules and analyse how they influence restructuring processes. This helps creditors improve their prediction of their legal rights and calculate the returns on their investments. It also improves a sovereign debtor’s understanding of the boundaries within which its debt restructuring offer must be designed and is instructive when drafting future sovereign debt instruments. Second, and equally important, the book sheds light on the functioning of the legal framework governing sovereign debt more broadly. It raises the question of whether intercreditor equity rules and the surrounding legal framework of sovereign debt restructuring are compatible with a debtor state’s possibility to ensure monetary and financial stability and establish sustainable debt burdens. In sum, the book seeks to go beyond the common platitude that ‘equal treatment’ is the crux of a successful debt restructuring process by showing that equal treatment is an ambiguous concept that is context- and rule-specific, and does not necessarily guarantee a sustainable debt restructuring.

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Hjertaker, Ingrid & Iversen, Astrid (2024). Central Banks as the “Guarantors of All Things” (GOAT).
Iversen, Astrid (2024). States as Actors in the Market: Doing Business or Exercising Public Powers?
Hjertaker, Ingrid & Iversen, Astrid (2024). Financial Stability and the Central Bank's “Guarantor of All Things” Role.
Iversen, Astrid & Franchini, Daniel (2024). Frozen Russian Assets to Finance Ukraine: Collateralization Instead of Confiscation. Lawfare Blog.
Iversen, Astrid (2023). The rights of individuals (creditors) in the context of sovereign debt restructurings from a rule of law perspective .
Iversen, Astrid (2023). Likebehanlding av kreditorer ved restrukturering av statlig gjeld.
Iversen, Astrid (2023). Solving sovereign Debt Crisis.
Iversen, Astrid (2023). Central banks and their role in financial markets.
Iversen, Astrid (2023). Economic crisis resolution & monetary power - sovereign immunity rules concerning central banks and sovereign debt.
Iversen, Astrid (2023). Intercreditor Equity in Sovereign Debt Restructuring.
Iversen, Astrid (2023). Diverging development of rules of immunity of central bank and sovereign debt related assets.
Iversen, Astrid (2023). Central Banks, Regulation and Climate Change.
Iversen, Astrid (2023). "Creditor Rights in National and International Law: Can Equal Treatment of Creditors Solve State Debt Crises?", Sapienza Università di Roma.
Iversen, Astrid (2023). Intercreditor Equity in Sovereign Debt Restructurings.
Iversen, Astrid (2022). Summary Lecture, JUS5880 – Financial Market Law and Regulation, University of Oslo.
Iversen, Astrid (2022). Sustainability regulation in central banking and sovereign debt management. Lecture, JUS5880 – Financial Market Law and Regulation, University of Oslo.
Iversen, Astrid (2022). Sovereign debt and financial market law regulation. Lecture, JUS5880 – Financial Market Law and Regulation, University of Oslo.
Iversen, Astrid (2022). Central banks, sanctions and risks related to eroding immunity.
Iversen, Astrid (2022). Sanksjonene og folkerettslig immunitet.
Iversen, Astrid (2022). Sentralbanker, sanksjoner og immunitet.
Iversen, Astrid (2022). Central bank law.
Iversen, Astrid (2022). Statsimmunitet og søksmål mot sentralbankar og statlege pensjonsfond .
Iversen, Astrid (2022). Sovereign immunity and climate lawsuits against central banks and sovereign wealth funds.
Iversen, Astrid (2022). Central Banks, sovereign immunity and non-monetary policy activities.
Iversen, Astrid (2022). Intercreditor Equity in Sovereign Debt Restructuring – a Friend or Foe.
Iversen, Astrid (2022). "Central banks’ expanding role and sovereign immunity", Berlin.
Iversen, Astrid (2021). Sovereign debt restructurings.
Iversen, Astrid (2021). Central banks and their role in financial markets.
Iversen, Astrid (2020). Covid-19: Sovereign debt standstill/ restructuring and private creditors .
Iversen, Astrid (2020). Sustainable Debt Restructuring: Possibilities and Challenges under International Law.
Iversen, Astrid (2020). Covid-19 and Sovereign Debt Crisis Resolution; Selected Regulatory and Legal Aspects .
Iversen, Astrid (2017). Solvency II and Sovereign Bonds, Solvency II: A Dynamic Challenge for the Insurance Market. Il Mulino. ISSN 9788815265784.
Iversen, Astrid (2020). Intercreditor Equity in Sovereign Debt Restructuring. Universitetet i Oslo, Juridisk Fakultet. ISSN 1890-2375.
Iversen, Astrid (2015). Holdout Creditor Litigation: An Assessment of Legislative Initiatives to Counter Aggressive Sovereign Debt Creditor Litigators. Universitetet i Oslo.

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Published July 10, 2024 12:28 PM - Last modified July 10, 2024 12:38 PM

Projects

Central banks' expanding role in financial markets