Venezuelan Ambassador Says 2020 Bonds Are Invalid
Law360 (June 10, 2020, 7:50 PM EDT) -- Venezuela's U.S. ambassador is
urging a New York federal court not to allow the
holders of some $1.68 billion in bonds issued by its state-owned oil
company to foreclose on a majority share in Citgo, saying
President Nicolás Maduro violated Venezuelan law when he put up the
U.S.-based oil giant as collateral.
Carlos Vecchio told the court in a Tuesday letter that the bonds, set to
mature this year, were issued as part of an "illegal and unconstitutional" transaction orchestrated by Maduro aimed at circumventing a requirement
that the deal be approved by Venezuela's National Assembly since
it involved a national...
https://www.law360.com/energy/articles/1281518/venezuelan-ambassador-says-2020-bonds-are-invalid
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