07 August 2019
Venezuela’s state-owned oil group PDVSA has defeated a US$1.5 billion International Chamber of Commerce (ICC) claim brought by US energy company ConocoPhillips over the expropriation of an offshore oil project – just months after an International Centre for Settlement of Investment Disputes (ICSID) tribunal ordered the state to pay a record award for seizing that and other assets.
05 August 2019
Carriers and agents that help customers purchase indirect flights between the US and Venezuela may fall afoul of a tough US order than bans flights between the two countries, warns Anita Mosner, a partner at Holland & Knight LLP’s Washington, DC office.
02 August 2019
In a wide ranging discussion at the Latin Lawyer - GRR Live 4th Annual Restructuring summit in New York, speakers discussed Venezuela's post Maduro future, the country's conflicting restructuring plans and its soverign debt. Venezuelan companies that were worth US$1 billion 20 years ago can now be bought for US$55 million, according to GCG Advisors managing partner Jose Gonzales. “If you want to take the risk, there should be plenty of opportunity.”
31 July 2019
A US appeals court in Pennsylvania has ruled that Canadian mining company Crystallex can seize shares in a US refinery business owned by Venezuela’s national oil and gas company PDVSA to satisfy a US$1.2 billion International Centre for Settlement of Investment Disputes award.
16 July 2019
Holders of Venezuelan sovereign bonds have responded to the Guaidó opposition’s guidelines for a US$150 billion debt restructuring, warning that a workout must be fair and transparent to creditors.
15 July 2019
The “astonishing” diversity of Venezuela’s US$150 billion debt pile means its potential sovereign debt workout will be unlike any seen before, the opposition government’s adviser Lee Buchheit has said, as he raised scepticism about state oil company PDVSA entering Chapter 15 bankruptcy in the US.
15 July 2019
Full-service firm Leĝa and IP boutique Estudio Antequera Parilli & Rodríguez have allied in a bid to push through hundreds of pending trademark and patent cases in Venezuela.
10 July 2019
Lawyers have welcomed a policy paper issued by the restructuring team for Venezuela’s opposition, which suggests treating diverse creditors equally to prevent Argentina-style holdout disputes.
21 June 2019
A US court has refused to enforce a US shipbuilder’s US$129 million award against Venezuela’s ministry of defence in a 17-year dispute over a contract to upgrade two missile-armed navy frigates.
06 June 2019
D’Empaire in Venezuela has strengthened its finance and corporate practices with a lateral hire.