Venezuela

Litigating Expropriation Claims in U.S. Courts

Foreign sovereigns generally enjoy sovereign immunity in the United States by operation of the Foreign Sovereign Immunities Act (FSIA). The FSIA specifically provides, however, that a foreign sovereign shall not be immune in any case in which “rights in property taken in violation of international law are in issue.” On its face, this expropriation exception…

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New Scholarship on Sanctions and Central Bank Immunity

Ingrid has a new paper out on recent developments in central bank immunity, focusing on sanctions by the United States and other countries involving Russian, Afghan, and Venezuelan central bank assets and their relationship to immunity. Some of the issues addressed in the paper involve transnational litigation in U.S. courts, including the entitlement of sovereign…

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The PDVSA Bonds, Autocracy, and the Venezuelan Constitution

The Second Circuit’s recent decision in Petróleos de Venezuela S.A. v. MUFG Union Bank, N.A. certified a number of choice-of-law questions to the New York Court of Appeals. The decision to certify, which had the effect of postponing a definitive resolution of the dispute, was previously discussed at TLB here and here. In this post, I focus…

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More on the Validity of the PDVSA 2020 Bonds

Governments with no realistic prospect of paying their debts often gamble for redemption, trying desperately to avoid default. Political leaders, with good reason, fear that a debt default will get them thrown out of office. But in trying to hold power, sometimes by borrowing even more, they often make matters worse for the country and…

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The Billion-Dollar Choice-of-Law Question

Choice-of-law rules can be complex, confusing, and difficult to apply. Nevertheless, they are vitally important. The application of choice-of-law rules can turn a winning case into a losing case (and vice versa). A recent decision in the U.S. Court of Appeals for the Second Circuit, Petróleos de Venezuela S.A. v. MUFG Union Bank, N.A., is…

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Ingrid (Wuerth) Brunk

Vanderbilt Law School
ingrid.wuerth@vanderbilt.eduEmail

William Dodge

UC Davis School of Law
wsdodge@ucdavis.eduEmail

Maggie Gardner

Cornell Law School
mgardner@cornell.eduEmail

John F. Coyle

University of North Carolina School of Law
jfcoyle@email.unc.eduEmail

Zachary D. Clopton

Northwestern Pritzker School of Law
zclopton@law.northwestern.eduEmail

Chukwuma Okoli

University of Birmingham
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Haley Anderson

University of California Berkeley
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Brian D. Hulse

Davis Wright Tremaine LLP
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Wenliang Zhang

Renmin University of China Law School
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Haoxiang Ruan

Renmin University of China Law School
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Melissa Kucinski

MKFL
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