Venezuela Faces Creditor Class Action Suit After Missing $1.5B Bond Payments
Backed by Duane Morris, the bondholder claims Venezuela breached the terms of the bonds when it stopped making semiannual 9.375% interest payments and failed to repay the principal when the loans matured in 2018.
December 06, 2024 at 05:32 PM
2 minute read
A creditor filed a proposed class action in the Manhattan federal court to force Venezuela to make good on $1.5 billion worth of defaulted government bonds.
Counseled by Duane Morris, Sabine Zahn argued the Latin American country breached the terms of the bonds when it stopped making the semiannual 9.375% interest payments and failed to repay the principal when the loans matured.
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