Venezuelan Debt – Summaries of news and views OnVenezuela https://onvenezuela.com Wed, 01 Jun 2022 14:02:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://onvenezuela.com/wp-content/uploads/2020/01/cropped-Screen-Shot-2019-12-20-at-12.31.03-PM-1-32x32.png Venezuelan Debt – Summaries of news and views OnVenezuela https://onvenezuela.com 32 32 How China Played a Role in the Collapse of Venezuela https://onvenezuela.com/14817-2/?utm_source=rss&utm_medium=rss&utm_campaign=14817-2 Wed, 01 Jun 2022 14:00:17 +0000 https://onvenezuela.com/?p=14817

To summarize, the total investments of China in Venezuela are close to $67 Billion.It seems that it was a bad investment, especially for the Chinese image, which was poorly stained thanks to the nonexistent benefits of the development projects. Of course, we all know that if the money goes to the proper destination with the intended purpose and strict monitoring, the results surely would be outstanding. Now we have to pay a debt with commodities that an incredibly complex network of thieves established to suck us dry for their own benefit. That is the thing with China and Russia to a lesser degree. They know that if regime change occurs, this illegal debt very likely won’t be paid. By J.G. Martinez D. Full Text -> TheOrganicPrepper

Traducción de cortesía ->

En resumen, las inversiones totales de China en Venezuela se acercan a los 67.000 millones de dólares. Parece que fue una mala inversión, sobre todo por la imagen china, que quedó mal manchada gracias a los inexistentes beneficios de los proyectos de desarrollo. Por supuesto, todos sabemos que si el dinero va al destino correcto con el propósito previsto y un seguimiento estricto, los resultados seguramente serían sobresalientes. Ahora tenemos que pagar una deuda con mercancías que una red increíblemente compleja de ladrones estableció para dejarnos secos en su propio beneficio. Eso es lo que pasa con China y Rusia en menor grado. Saben que si se produce un cambio de régimen, es muy probable que esta deuda ilegal no se pague

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Spanish agricultural group wins big against Venezuela https://onvenezuela.com/spanish-agricultural-group-wins-big-against-venezuela%ef%bf%bc/?utm_source=rss&utm_medium=rss&utm_campaign=spanish-agricultural-group-wins-big-against-venezuela%25ef%25bf%25bc Sun, 27 Mar 2022 00:17:00 +0000 https://onvenezuela.com/?p=13992

A divided ICSID tribunal has ordered Venezuela to pay nearly US$3 billion including interest for expropriating the assets of a Spanish agricultural group, after US sanctions forced a law firm representing the state to withdraw. Full Text -> GlobalArbitration

Traducción de cortesía -> Un tribunal dividido del CIADI ordenó a Venezuela que pague casi 3.000 millones de dólares, incluidos los intereses, por la expropiación de los activos de un grupo agrícola español, luego de que las sanciones de Estados Unidos obligaran a una firma de abogados que representaba al estado a retirarse.

Traducción al español -> Google Translación

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Maduro says has ‘dialog’ with bondholders https://onvenezuela.com/venezuelas-maduro-says-has-dialog-with-bondholders/?utm_source=rss&utm_medium=rss&utm_campaign=venezuelas-maduro-says-has-dialog-with-bondholders Thu, 03 Feb 2022 13:59:44 +0000 https://onvenezuela.com/?p=13327

Venezuelan President Nicolas Maduro said on Wednesday his government is maintaining contact with holders of the country’s bonds and is willing to make good on payment obligations which have gone unattended since the end of 2017.Maduro advisors spoke to investors and bondholders from Europe and the United States about their country’s economic potential during a call in January. By Mayela Armas. Full Text-> Financial Post

Traducción de cortesía -> El presidente de Venezuela, Nicolás Maduro, dijo el miércoles que su gobierno mantiene contacto con los tenedores de bonos del país y está dispuesto a cumplir con las obligaciones de pago que no han sido atendidas desde fines de 2017.Los asesores de Maduro hablaron con inversionistas y tenedores de bonos de Europa y Estados Unidos sobre el potencial económico de su país durante una llamada en enero. To translate into Spanish -> Google Translación

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Sanctions-defying Venezuela eyes reset: Correction https://onvenezuela.com/sanctions-defying-venezuela-eyes-reset-correction/?utm_source=rss&utm_medium=rss&utm_campaign=sanctions-defying-venezuela-eyes-reset-correction Thu, 20 Jan 2022 09:51:00 +0000 https://onvenezuela.com/?p=13118

Venezuela’s government is looking to reset relations with bondholders and other jilted creditors amid signs of a sanctions-defying economic recovery. By Patricia Garip Fuul Text -> Argus

Traducción de cortesías-> El gobierno de Venezuela busca restablecer las relaciones con los tenedores de bonos y otros acreedores abandonados en medio de señales de una recuperación económica que desafía las sanciones. To translate into Spanish -> Google Translación

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Venezuela close to losing more overseas assets https://onvenezuela.com/venezuela-close-to-losing-more-overseas-assets/?utm_source=rss&utm_medium=rss&utm_campaign=venezuela-close-to-losing-more-overseas-assets Fri, 01 Oct 2021 16:13:28 +0000 https://onvenezuela.com/?p=11242

A Dutch court has dealt the latest blow to Venezuela’s shrinking overseas portfolio that neither the Venezuelan government nor its political foes has succeeded in defending from creditors and arbitration claimants.In a 14 September Dutch appeals court ruling, Curacao’s state-owned RdK won the right to sell shares in Venezuelan state-owned PdV’s Netherlands subsidiary Propernyn to cover $52mn in unpaid debt.Full Text-> ArgusMedia

Traducción de cortesía -> Un tribunal holandés ha asestado el último golpe a la cartera en el extranjero cada vez más pequeña de Venezuela que ni el gobierno venezolano ni sus enemigos políticos han logrado defender de los acreedores y demandantes de arbitraje. En un fallo de la corte de apelaciones holandesa del 14 de septiembre, RdK, propiedad del estado de Curazao, ganó el derecho a vender acciones en la filial neerlandesa de Pdvsa, propiedad del estado venezolano, Propernyn, para cubrir 52 millones de dólares en deuda impaga.

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Venezuela Voluntarily Dismissed Appeal Of US $1.62 Billion Judgment https://onvenezuela.com/venezuela-voluntarily-dismissed-appeal-of-us-1-62-billion-judgment/?utm_source=rss&utm_medium=rss&utm_campaign=venezuela-voluntarily-dismissed-appeal-of-us-1-62-billion-judgment Thu, 23 Sep 2021 13:18:37 +0000 https://onvenezuela.com/?p=11104

Rusoro Mining Ltd. (the “Company” or “Rusoro”) announced on Monday, September 20, the Republic of Venezuela voluntarily dismissed its appeal of the US$1.62 billion (representing the original award amount of US$967.77 million plus approximately US$652.23 million of interest as calculated by the Company) award judgment rendered by the U.S. District Court in Washington DC in favor of Rusoro Mining, and against Venezuela. That judgment confirmed the award of an international arbitration tribunal based in Paris, which found that Venezuela had expropriated Rusoro’s mining-related investments in that country in violation of international law, and ordered Venezuela to compensate Rusoro for the damages it suffered as a result of Venezuela’s seizure of its investments. By Vladimir Agapov Full Text ->Junior Mining Network

Traducción de cortesía -> Rusoro Mining Ltd. (la “Compañía” o “Rusoro”) anunció el lunes 20 de septiembre que la República de Venezuela desestimó voluntariamente su apelación de los US $ 1,62 mil millones (que representan el monto de la adjudicación original de US $ 967,77 millones más aproximadamente US $ 652,23 millones de interés calculado por la Compañía) sentencia dictada por el Tribunal de Distrito de los Estados Unidos en Washington DC a favor de Rusoro Mining y en contra de Venezuela. Esa sentencia confirmó el laudo de un tribunal de arbitraje internacional con sede en París, que determinó que Venezuela había expropiado las inversiones relacionadas con la minería de Rusoro en ese país en violación del derecho internacional, y ordenó a Venezuela que indemnizara a Rusoro por los daños que sufrió como resultado de la operación de Venezuela. incautación de sus inversiones.

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Shipbuilder Eyes Citgo Shares To Pay $138M Venezuela Award https://onvenezuela.com/shipbuilder-eyes-citgo-shares-to-pay-138m-venezuela-award/?utm_source=rss&utm_medium=rss&utm_campaign=shipbuilder-eyes-citgo-shares-to-pay-138m-venezuela-award Tue, 23 Feb 2021 14:42:42 +0000 https://onvenezuela.com/?p=7713 Law360]]>

U. S. military shipbuilder Huntington Ingalls asked the Fifth Circuit to let it seize Citgo parent company shares, amid Venezuela’s challenge of a confirmed $138 million arbitral award over a soured missile-armed ship refurbishment contract from 1997. Huntington Ingalls Inc. won the award in 2018 and successfully confirmed it in a Mississippi federal court, but Venezuela claims the arbitration happened in the wrong venue so it asked the appellate court to reverse the award confirmation. The shipbuilder’s Friday brief requested the court to allow it access to shares of PDV Holding Inc. , which is the indirect parent company of Citgo Petroleum Corp.  Full Text-> Law360

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Why it’s time to lift the trading ban on Venezuela’s debt https://onvenezuela.com/why-its-time-to-lift-the-trading-ban-on-venezuelas-debt/?utm_source=rss&utm_medium=rss&utm_campaign=why-its-time-to-lift-the-trading-ban-on-venezuelas-debt Mon, 22 Feb 2021 06:05:00 +0000 https://onvenezuela.com/?p=7672

A continuing regulatory ban on the secondary market trading of Venezuelan bonds risks balkanising global capital markets. By Dr. Thomas Laryea. Full Text -> FinancialTimes

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Venezuela’s Government Is Trying to Revive Moribund Debt Talks https://onvenezuela.com/venezuelas-government-is-trying-to-revive-moribund-debt-talks/?utm_source=rss&utm_medium=rss&utm_campaign=venezuelas-government-is-trying-to-revive-moribund-debt-talks Tue, 20 Oct 2020 13:47:22 +0000 https://onvenezuela.com/?p=6128

 The government of Venezuelan President Nicolas Maduro is approaching some of the nation’s creditors in a bid to lay the groundwork for a debt deal should sanctions ease after next month’s U.S. election. His team has convened phone calls with local bondholders in the past few weeks, as well as those from Colombia, Argentina and Europe, according to people familiar with the matter. By Ben Bartenstein and Nicolle Yapur. Full Text -> BNNBloomberg

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U.S. defense firm joins creditors seeking to enforce Venezuela judgments https://onvenezuela.com/u-s-defense-firm-joins-creditors-seeking-to-enforce-venezuela-judgments/?utm_source=rss&utm_medium=rss&utm_campaign=u-s-defense-firm-joins-creditors-seeking-to-enforce-venezuela-judgments Sun, 02 Aug 2020 13:25:35 +0000 https://onvenezuela.com/?p=4791

Huntington Ingalls’ shipbuilding unit earlier this year received a $138 million judgment from a Mississippi court against Venezuela’s defense ministry over non-payment for repairs to two of the South American country’s warships which began decades ago. By Luc Cohen. Full Text -> Reuters

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