More on the Validity of the PDVSA 2020 Bonds
Conflict of Laws
NOVEMBER 3, 2022
We have seen this pattern in Venezuela, Mozambique, Ukraine, Zambia, Liberia, Puerto Rico, and in other sovereign and sub-sovereign borrowers. It is that many choice-of-law clauses are drafted in perplexing ways, which leave unclear the extent of protection they offer to investors. Will that court’s decision offer clarity?
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