Recent Venezuela Executive Order Calls Into Question Enforceability of Security Interests
May 29, 2018
Last week, President Trump issued Executive Order 13835, further tightening sanctions on Venezuela.
The Executive Order had three new prohibitions, barring all transactions relating to the following:
- the purchase of any debt owed to the Government of Venezuela, including accounts receivable;
- any debt owed to the Government of Venezuela that is pledged as collateral after the effective date of this order, including accounts receivable; and
- the sale, transfer, assignment, or pledging as collateral by the Government of Venezuela of any equity interest in any entity in which the Government of Venezuela has a 50 percent or greater ownership interest.
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