(Caracas Capital Markets, 12.Feb.2019) — I have seen a lot of weird things in courts over the years, but this one is up there, writes Caracas Capital Markets, S.A. Managing Partner Russ Dallen in an email update to clients.
The nascent Government of Venezuela President Juan Guaido has just jumped in to take over the defense in the $1.3 billion Rusoro case in the U.S. Court of Appeal.
This marks the first legal move in U.S. courts by the Guaido government that we know of and was certainly an unusual place to start but definitely marks a new era in Venezuela creditor litigation.
The law firm representing Venezuela, Arnold & Porter, is the same firm that was previously representing Venezuela under the Maduro Regime and it reads as if they were legally compelled to switch to following orders from the Guaido administration because of the U.S. recognition of Guaido as the rightful interim leader of the country.
For more details and the full story: visit Caracas Capital Markets.
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