Titoli di Stato paesi-emergenti VENEZUELA e Petroleos de Venezuela - Cap. 2 (9 lettori)

[Ivanhoe80]

Da newsletter dell'Emta:

Various issues regarding the appropriate trading convention for bonds issued by the Republic of Venezuela were discussed today on a conference call among major market participants.

During this call, it was made clear that no Market Practice recommendation would be made until the relevant language was fully reviewed and finalized. Rumors and press reports to the effect that any final recommendation was reached and would become effective on January 4 are inaccurate and cannot be relied upon.

While the discussion today reflected various points of interest, a final decision on any Market Practice recommendation will be made by EMTA’s Board as soon as reasonably practicable.





EMTA offers a wide range of Emerging Markets information. Please visit the EMTA website.

 

[Ventodivino]

U.S. court rules against miner Crystallex in Venezuela dispute

Reuters Staff

3 MIN READ


CARACAS, Jan 3 (Reuters) - A U.S. court has dismissed Canadian gold miner Crystallex’s lawsuit against asset transfers by Venezuelan-owned refiner Citgo as part of a long-running dispute over the South American nation’s 2008 nationalization of the company’s assets.

Crystallex International Corp is seeking to collect $1.2 billion plus interest awarded in 2016 by a World Bank tribunal against Venezuela, which Venezuela has refused to pay.

The company has argued that Citgo financial operations in 2015 and 2016, including bond issues and dividend payments, were “fraudulent transfers” meant to prevent Crystallex from collecting the award.

The 3rd U.S. Circuit Court of Appeals accepted the defendant’s request to dismiss the suit because Crystallex’s claim is against Venezuela rather than Citgo, which is owned by Venezuelan state oil company PDVSA.


“While we do not condone the debtor’s and the transferor’s actions, we must conclude that Crystallex has failed to state a claim,” the court said in a ruling on Wednesday.

A lawyer representing Crystallex declined to comment. PDVSA did not immediately respond to a request for comment.

Crystallex’s lawsuit had targeted a Delaware-incorporated subsidiary of PDVSA which in turn owns Citgo. It called the transfers a violation of the Delaware Uniform Fraudulent Transfer Act.

The case has been closely followed by investors holding Venezuela’s distressed bonds. Some have considered targeting Citgo in the event that President Nicolas Maduro’s government, struggling under hyperinflation and an economic crisis, defaults on its debt.

Sovereign nations and state-owned companies are generally considered separate legal entities, meaning companies that have commercial disputes with the former face an uphill battle in seeking to collect from the latter.

Crystallex has argued that PDVSA is in fact the “alter ego” of Venezuela.

Venezuela, which has around $30 billion in outstanding bonds, has little in the way of offshore assets.


That has encouraged creditors to consider ways to pursue Citgo under a potential default scenario.

“This decision is a big blow for Crystallex’s fraudulent transfer theory but doesn’t undermine the legal basis for its alter ego theory,” said Mark Weidemaier, a professor of law at the University of North Carolina at Chapel Hill who is an expert on international debt disputes and resolution.

Maduro said in November his government would restructure foreign debt, but Caracas has continued to make payments - with significant delays - on both PDVSA and Venezuela bonds. (Reporting by Brian Ellsworth; Editing by Frances Kerry)

 

[silent25]

Voglio il Default del Venezuela.
Il paese ha ormai saltato tutti i pagamenti dei titoli sovrani di stato e tutti i relativi periodi di grazia.
Inutile continuare con le speranze, tutti stanno zitti, che si applichino le clausole e le sanzioni si sequestrino i beni internazionali del Venezuela.
Si dichiari il paese in default, come mai S&P, e tutte le altre non lo fanno ????

VOGLIO IL DEFAULT DEL PAESE SENZA TANTE STORIE .................................. AVANTI CON I TRIBUNALI E I SEQUESTRI.

 

[Ventodivino]

U.S. court rules against miner Crystallex in Venezuela dispute

Decisione 2 a 1.

Vediamo cosa dirà il Circolo Gulati.

 

[carib]

Carib mi sa che i tuoi prezzi sono un po’ più altini rispetto a quelli che vedo di la

all in, inclusi accrued.
ricevuti da terzi.

 

[carib]

Voglio il Default del Venezuela.


VOGLIO IL DEFAULT DEL PAESE SENZA TANTE STORIE .................................. AVANTI CON I TRIBUNALI E I SEQUESTRI.

Venezuela, which has around $30 billion in outstanding bonds, has little in the way of offshore assets.


That has encouraged creditors to consider ways to pursue Citgo under a potential default scenario.

 

[junior63]

Extraoficial: Se habrían fugado del Sebin dos detenidos por caso Pdvsa

Según información publicada por la periodista Sebastian Barraez, al menos dos personas detenidas por los casos de corrupción en Pdvsa se habrían fugado el pasado sábado 30 de diciembre desde El Helicoide.

El caso bandera de la gestión del fiscal designado por la Constituyente cubana, Tarek William Saab tiene una nueva trama luego que se conociera sobre la posible evasión de dos detenidos en la sede del Servicio Bolivariano de Inteligencia (Sebin) en Caracas.

Hasta el momento se desconocen los nombres de los prófugos quienes habrías desaparecido junto con los expedientes de los Tribunales 7 y 8 de Caracas donde reposaban las investigaciones de la estatal petrolera.


Sebastiana Barráez‏ @SebastianaB 5 h5 ore fa

1) Atención. El 30 de diciembre se habrían fugado del Sebin en El Helicoide, dos de los presos por el caso PDVSA
2) La fuga habría sido detectada el 31 d diciembre. Lo inaudito es q habrían desaparecido los expedientes d los tribunales 7 y 8 de Caracas.
3) La DGCIM llegó el 31 de diciembre a las 5y30 de la tarde a los tribunales 7mo y 8vo de Caracas y se llevó a todos los empleados.
4) El archivista del tribunal séptimo ha sido fuertemente interrogado para tratar de determinar qué pasó con los expedientes de los fugados.
5) Aun no se ha determinado cómo se fugaron ni cómo desaparecieron los expedientes de los dos detenidos por corrupción en PDVSA.


https://www.lapatilla.com/site/2018...ugado-del-sebin-dos-detenidos-por-caso-pdvsa/

 

[Esad]

Quindi domani in USA ancora corso secco come sempre?

 

[breni]

U.S. court rules against miner Crystallex in Venezuela dispute...

notizia interessante

 

[angy2008]

Venezuela, which has around $30 billion in outstanding bonds, has little in the way of offshore assets.


That has encouraged creditors to consider ways to pursue Citgo under a potential default scenario.

Citgo mi pare un asset non capiente rispetto al monte debiti e con crediti privilegiati che lo assorbirebbero in gran parte.
Sarà anche per questo che nessuno si muove. Altri beni sono difficilmente sequestrabili e c'è pure la coda di creditori vari che si insinuerebbe. Con il precedente di Argentina si è visto che per arrivare a soluzione ci vogliono molti anni e cause costose, penso che tutti sperano che cambi qualcosa in Venezuela con tempi brevi in modo da avere un interlocutore più affidabile che aiutato dal petrolio in salita faccia ripartire l'economia sfruttando appieno le risorse.
Non tutti gli impianti di PDVSA sono allo sfascio, molta produzione è mancata perchè i fornitori di servizi in appalto si sono ritirati per mancati pagamenti.
Nel frattempo anche la Russia pensa alla cripto per aggirare le sanzioni, anche se non mi pare avesse problemi a far girare i soldi.
Mosca studia un cripto-rublo per aggirare le sanzioni