US President Donald Trump or his successor should use an
executive order to prevent creditors of Venezuela from seizing oil or other
assets so that a consensual restructuring of the country's debts can be carried
out after the current regime of Nicolas Maduro ends. The recommendation comes
from Lee Buchheit, partner at law firm Cleary Gottlieb, who advised Iraq on
restructuring its US$140bn of debts after the downfall of Saddam Hussein. In
that situation a UN security council resolution prevented creditors taking
Iraqi oil as payment. More…
Friday, September 7, 2018
US should suspend redress for Venezuela creditors
US President Donald Trump or his successor should use an
executive order to prevent creditors of Venezuela from seizing oil or other
assets so that a consensual restructuring of the country's debts can be carried
out after the current regime of Nicolas Maduro ends. The recommendation comes
from Lee Buchheit, partner at law firm Cleary Gottlieb, who advised Iraq on
restructuring its US$140bn of debts after the downfall of Saddam Hussein. In
that situation a UN security council resolution prevented creditors taking
Iraqi oil as payment. More…
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