SDDRFSovereign Debt Dispute Resolution Forum (Association of Development Financing Institutions in Asia and the Pacific; Philippines)
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3) The absence of a stay also means that the debtor country will be formally in default if it ceases making payments, thereby preventing reversion to the status quo ante if the negotiations come to nothing--a feature that may give creditors a bargaining advantage in the SDDRF.
6) Moreover, under the "hotchpot" rule, any legal takings outside the SDDRF would be deducted from the creditor's entitlement under the SDDRF settlement.
According to Krueger, the SDDRF was to be set up as "a legal body whose functions would be to register claims and resolve disputes [and] would be independent of the Fund and its Executive Board, in parallel with approaches used in other organizations" (International Monetary Fund 2003c).