News

Steelmaker takes Venezuela arbitration awards to DC

15 June 2018

A Luxembourg steelmaker has asked a US court to enforce two awards at the International Centre for Settlement of Investment Disputes (ICSID) worth a combined US$447 million against Venezuela arising from the nationalisation of the country’s steel industry.

No end in sight for Venezuela, say panellists

No end in sight for Venezuela, say panellists

06 June 2018

The Venezuelan government’s lack of political will to restructure its debts is stopping the country from addressing its economic crisis, according to restructuring advisors.

Zurich snaps up assets in Latin America

06 June 2018

Swiss insurance company Zurich has made a series of investments in Latin America, buying assets in Argentina, Brazil, Chile, Colombia, Mexico, Panama, Uruguay and Venezuela.

Latin Lawyer Elite Survey 2018

Latin Lawyer Elite Survey 2018

24 May 2018

In a fast-changing world, the Latin Lawyer Elite firms of 2018 have shown themselves willing to take innovative steps to defend their leading positions.

PDVSA attachments partially lifted in Caribbean

23 May 2018

A court serving the Dutch Caribbean islands of Bonaire and Curacao has ordered the partial lifting of orders allowing ConocoPhillips to seize assets of Venezuela’s national oil and gas company PDVSA to satisfy a US$2 billion arbitral award, ensuring that both islands have enough fuel and electricity.

Hogan Lovells closes Caracas office

18 May 2018

Hogan Lovells says the “practical realities” of running an office in Venezuela forced its closure after 13 years in the country.

ConocoPhillips seizes PDVSA assets in Caribbean

18 May 2018

ConocoPhillips has seized oil products belonging to Venezuela’s national oil and gas company PDVSA on the Dutch island of Curacao and elsewhere in the Caribbean, as part of a campaign to satisfy a US$2 billion award at the International Chamber of Commerce (ICC).

Antitrust leniency fight divides Colombia from regional body

Antitrust leniency fight divides Colombia from regional body

17 May 2018

The General Secretariat of the Andean Community should close its investigation into an alleged soft paper cartel and not fine companies that already have been granted leniency in its member countries, Colombia’s antitrust authority has said.

Top speakers confirmed for Latin Lawyer - GRR 3rd restructuring summit

Top speakers confirmed for Latin Lawyer - GRR 3rd restructuring summit

16 May 2018

Senior figures from turnaround specialists Alvarez & Marsal, financial advisors GCG and Millstein & Co, commercial bank JP Morgan and private equity group G5 are set to speak at the Latin Lawyer – GRR Live 3rd Annual Restructuring Summit, which will be held at Paul Hastings’ New York office on Monday 4 June.

ICSID creditor targets Venezuelan “alter egos”

ICSID creditor targets Venezuelan “alter egos”

15 May 2018

Two months after its US$1.37 billion award at the International Centre for Settlement of Investment Disputes (ICSID) against Venezuela was confirmed in the US, Canadian mining company Rusoro has asked a Texas court to help enforce against the country’s national oil and gas company PDVSA and other “alter egos” of the state which it accuses of fraudulently transferring assets abroad to escape the reach of arbitral creditors.