Who will get the marginal $ from #Venezuela’s revived oil output? Old bondholders? Judgment & arbitration award holders? Banks, bilaterals, new investors? The Venezuelan public? The answer is 🤷♀️…A new @piie.com post with my @georgetownlaw.bsky.social colleagues www.piie.com/blogs/realti...
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Who gets Venezuela's next barrel?
Until recently, the subject of claim priorities in sovereign debt restructuring was mostly confined to academic journals. For better or worse, creditors had acted as if they were equal—or pari passu. ...