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US Appeals Court Says Venezuela's PDVSA Must Pay Defaulted Notes

LATIN AMERICA
  • PDVSA MUST PAY ITS DEFAULTED NOTES, US APPEALS COURT SAYS (BBG)
  • PAYMENT NOT 'IMPOSSIBLE' UNDER US SANCTIONS, JUDGE PANEL RULES (BBG)
  • Bloomberg expanding on the above headlines:
  • Venezuela’s state-controlled oil company can’t use US sanctions as an excuse for not paying on defaulted debt, a federal appeals court ruled. A three-judge panel of the court in Manhattan Wednesday upheld lower court rulings that Petroleos de Venezuela SA wasn’t blocked from paying. PDVSA had argued that payment was made impossible by sanctions against the government of Venezuelan President Nicolas Maduro. (BBG)

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