Venezuela Bondholders Get Warning Inside Manhattan Law Office

Miguel Angel Santos, a lecturer at Harvard University, said at a panel discussion that the next government in Caracas will need to restructure roughly $157 billion of overseas debt “aggressively” and focus on a humanitarian aid package and boosting imports to relieve shortages. “We’re putting up a strategy to isolate and protect the assets of Venezuela and warranty that the new money coming in the country to finance the reconstruction doesn’t go to pay the legacy creditors,” he said at an event organized by the Venezuelan American Association at the offices of Pillsbury Winthrop Shaw Pittman. More…