Allen & Overy LLP (JD Supra Venezuela)

Investors' rights of protection against Venezuela's sovereign debt default
On 13 November 2017, it was confirmed that Venezuela had defaulted on its sovereign debt after failing to meet the deadline for payment of US$200m of interest on its sovereign bonds due in 2019 and 2024.1 It is expected that Venezuela may also default on other sovereign debt obligations, as a further US$420m of interest payments is overdue.2 Overall, it is estimated that Venezuela has US$63bn

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