Judge Won't Nix Venezuelan Ambassador's Args In Bond Case

Law360 (July 23, 2020, 10:32 PM EDT) -- A New York judge won't disregard a letter from Venezuela's U.S. ambassador arguing that some $1.68 billion in bonds issued by the country's state-owned oil company violate Venezuelan law, saying it could be useful as she considers whether to allow the bondholders to seize shares in Citgo's parent company.

Denying the bondholders' bid to strike the submission sent to her by Ambassador Carlos Vecchio, U.S. District Judge Katherine Polk Failla said in a Wednesday order that it was appropriate for her to take into consideration Vecchio's interpretations of Venezuelan law even though the document was filed in a manner that gave...

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