Market: Venezuela

US-Venezuela flight ban has far reaching consequences

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.

05 August 2019

Venezuelan companies fear foreign asset grab post Maduro

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.”

02 August 2019

PDVSA loses appeal over seizure of US refinery assets

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.

31 July 2019

Bondholders respond to Venezuelan opposition debt plan

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.

16 July 2019

Venezuela's diverse debt pile will complicate restructuring, says debt guru

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

Leĝa and Antequera ally to break Venezuelan trademark deadlock

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.

15 July 2019

Lawyers welcome Venezuelan opposition’s early debt restructuring plans

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.

10 July 2019

Weathering a natural disaster storm

In-house counsel from across the region share their views on how legal teams can successfully prepare their companies to deal with natural disasters, from deciding what insurance to choose to steering a successful claim if disaster does strike.   

24 June 2019

Shipbuilder fails to enforce arbitration award against Venezuela

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.

21 June 2019

D’Empaire makes rare lateral hire in Venezuela

D’Empaire in Venezuela has strengthened its finance and corporate practices with a lateral hire.

06 June 2019

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