NEW YORK, 3rd December 2019 – Contrarian Capital Management LLC filed last 29th November again against Venezuela. The distressed investment firm also behind Red Tree Investment LLC is requesting this time principal and interest for at least USD 128.5 million of Venezuela’s 2018 notes.
Plaintiffs involve several funds with positions in Venezuela’s 2018 13.625% bonds and Venezuela’s 2018 7% notes with the stated principal amount of USD 101.8 million. These bonds were issued in 2018 under fiscal agency agreement and were defaulted in October 2017 when the country failed to make required interest payments as those became due.
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