Holland & Knight LLP (JD Supra Venezuela)

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Holland & Knight's Venezuela Update, produced in conjunction with Venezuela-based firms Tinoco Travieso Planchart & Nuñez and Arca Análisis Económico, provides our...

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Our team is highly qualified to help clients navigate the complex political and business environment in Venezuela. Holland & Knight's Venezuela Update, produced in...

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Our team is highly qualified to help clients navigate the complex political and business environment in Venezuela. Holland & Knight's Venezuela Update, produced in...

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Our team is highly qualified to help clients navigate the complex political and business environment in Venezuela. Holland & Knight's Venezuela Update, produced in...

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Our team is highly qualified to help clients navigate the complex political and business environment in Venezuela. Holland & Knight's Venezuela Update, produced in...

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Our team is highly qualified to help clients navigate the complex political and business environment in Venezuela. Please see full Update below for more information.

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Our team is highly qualified to help clients navigate the complex political and business environment in Venezuela. Please see full Update below for more information.

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Please see full Publication below for more information.

Holland & Knight's Venezuela Focus Team invites you to read our Venezuela Update, in which we discuss the latest news, trends and developments in Venezuela that impact the interests of businesses across all industry sectors. Our team is highly qualified to help clients navigate the complex political and business environment in Venezuela. Holland & Knight's Venezuela Update, produced in...

El Equipo de Enfoque de Venezuela de Holland & Knight lo invita a leer nuestra Actualización de Venezuela, en la que discutimos las últimas noticias, tendencias y desarrollos en Venezuela que afectan los intereses de las empresas en todos los sectores de la industria. Nuestro equipo está altamente calificado para ayudar a los clientes a navegar el complejo entorno político y comercial en...

The U.S. Department of the Treasury on Oct. 21, 2019, renewed for three months a license granted to several U.S. oil companies so that they may continue operating in the country until Jan. 22, 2020. Chevron is the only company that still carries out relevant operations in Venezuela.

After several months of stability of the difference between 1) the "black" market price to buy dollars and 2) the official rate of the Venezuelan government, the biggest fall of the year occurred in July 2019 with respect to the unofficial market, also known as the "black" or "parallel" market. Please see full publication below for more information.

The Venezuela National Assembly recently indicated that the country's debt is currently around $160 billion. In view of the foregoing, it is relevant to stress that in July, the Special Prosecutor's Office of the Bolivarian Republic of Venezuela submitted a memorandum describing the policies that will guide the interim government and the National Assembly of the Bolivarian Republic of Venezuela,...

The National Constituent Assembly (ANC) on July 2, 2019, issued the constitutional law that created the Wealth Tax (Impuestos a los Grandes Patrimonios). The creation of this tax reopens the debate on the constitutionality of the acts enforced by the ANC, considering: 1) the call to elect the ANC was issued by the president of the Republic without the participation and the consultation of the...

Here is our biweekly summary of recent economic developments in Venezuela: • June 23 marked five months since Juan Guaidó assumed the role of interim president. • Venezuela issued paper currency notes in new denominations of 10,000, 20,000 and 50,000 bolivars, after announcing in August 2018 the elimination of five zeros of prices and currency. Previously, the highest denomination paper...

The Supreme Court of Justice of Venezuela declared last month the constitutionality of Decree 3,844, issued on May 10, 2019, by means of which the government of Nicolás Maduro enacted a State of Exception and Economic Emergency throughout the country. Four factors were taken into consideration by the Constitutional Division of the Supreme Court to support the decision: 1) enforceability of...

The hyperinflation that Venezuela suffers, and the collapse of the purchasing power of the bolívar soberano (successor of the bolívar fuerte, which was the successor in turn of the bolívar without qualification), have provoked a de facto dollarization of the economy. It is common for retail commercial transactions to be traded in foreign currency, in particular, in U.S. dollars. In this context,...

With the objective of "massifying the production of hydrocarbons in Venezuela and recovering oil production levels," Luis Stefanelli, member of the Permanent Commission of Energy and Petroleum of the opposition-led National Assembly, presented a preliminary draft of what would be the new organic law of hydrocarbons for Venezuela. According to the opposition deputy, the law would respect the...

Here is our biweekly summary of recent economic developments in Venezuela: • The Venezuelan local press reported that two Chilean companies, Alimentos y Frutos S.A., and Empresas Carozzi S.A., requested before Venezuelan courts the bankruptcy and judicial occupation of the assets of the multinational food company Del Monte Andina C.A. due to the non-payment of debts with its international...

Oil production, the main source of foreign currency earnings in Venezuela, dropped to 740,000 barrels per day in March 2019, compared with the average production of 1.6 million barrels during 2018 and 2.2 million in 2017. In order to look for sources of income in dollars for vital imports and also look for mechanisms to evade the sanctions imposed by the U.S. Department of the Treasury, which...