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The country of Peru sells bonds on the open market, and buyers all around the world buy them. Five years later, Peru declares that it
The country of Peru sells bonds on the open market, and buyers all around the world buy them. Five years later, Peru declares that it will default on paying interest or principal on these bonds. Assume that Peru has assets in the United States. Explain whether a U.S. Court could hear a suit filed by a bondholder. In this answer, you should distinguish the act of state doctrine from sovereign immunity and explain the impact of each.
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