![Lack of legal clause leaves crisis-hit Lebanon bonds prone to litigation]( "Lack of legal clause leaves crisis-hit Lebanon bonds prone to litigation")
LONDON/BEIRUT, Nov 26 (Reuters) – As Lebanon’s crisis-hit bonds flash warnings of a sovereign debt distress ahead, any potential restructuring is likely complicated by the absence of widely-used legal clauses barring bondholders from holding up the negotiations in the courts. Lebanon is one of the few countries – alongside the Bahamas, Azerbaijan, Macedonia and Poland – to not include so-called enhanced collective action clauses, or CACs, in the legal framework governing its recent bond sales. The crisis-hit Mediterranean state has issued around $15 billion of international bonds since October 2014 without those clauses – more than any other country, according to an International Monetary Fund report from March.
