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2nd Circ. Told $1.9B In Debt Valid Despite Venezuelan Actions
Law360 (May 17, 2021, 7:01 PM EDT) A lower court was right to find that Venezuela s state-owned oil company is responsible for $1.9 billion in principal and interest on defaulted Citgo-backed bonds and that any holding to the contrary would disrupt foundational capital market principles, debtholder interests told the Second Circuit.
The bonds, which use a majority stake in Citgo Holding Inc. as collateral, are intimately tied to New York: They were issued there, subject to New York state law and purchased by Empire State investors, the collateral agent and trustee of the 2020 notes at issue told the court. Even though the National Assembly of Venezuela concluded.
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RIO DE JANEIRO, BRAZIL- It is public knowledge that several members of the military have been arrested after smuggling uranium from Venezuela, and we believe Iran is one of the main destinations,” said former interim President of Venezuelan Juan Guaidó over the weekend.
In an interview with newspaper Israel Hayom, Guaidó discussed his fears of being arrested by the regime of President Nicolás Maduro, sounded the alarm over Iran’s infiltration of the South American country.
Some two years ago, after being chosen as the president of the National Assembly of Venezuela, Guaidó rose to international prominence as the . . .