Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
venezuelanalysis | Venezuela Edges Closer to Losing CITGO as Corporations Submit Binding Offers, 17 June
A total of 18 creditors are looking to collect a $21.3 billion combined debt, with a final sale decision expected in mid-July.
According to Reuters, at least five groups of investors put forward proposals. Sources disclosed that Wall Street banks JPMorgan, Morgan Stanley, and investment groups Rothschild & Co, and Elliott Investment Management, secured financing for auction bids.
Rusoro Mining, another Canadian company presented a non-binding offer in the previous round in January but did not disclose whether it submitted a second-round bid. It is owed $1.6 billion. Other rumored interested parties include hedge fund Elliott Investment and Centerview Partners. The latter has reportedly tried to join forces with ConocoPhillips. The US oil giant is looking to enforce two arbitration awards worth $1.3 and $10.2 billion, respectively. It did not state publicly whether it had submitted a bid.
The present CITGO board might lobby the court to open a third round of bidding if offers remain far from the company's $11-13 billion valuation. The highest amount put forward in the first round was just $7.3 billion. CITGO's board was appointed by the since-defunct Venezuelan self-proclaimed "interim government" headed by Juan Guaidó with US support.
reuters | Financial alliances build as Citgo share auction enters last mile, 17 June
by Cat on Wed Jun 19th, 2024 at 09:09:35 PM EST
[ Parent ]
Venezuela's Dual Power In Its Last Year?

The AN 2015's term was due to end in January 2021, and had been formally dissolved by President Maduro in 2017. However, it survived in exile with support from the U.S. government and allies.

The decision meeting took place on December 15th virtually, as most lawmakers are based in the U.S., Colombia, and Spain. Many of them are also substitutes, as some withdrew when their formal term ended in 2021 and for other reasons.

A failed regime change plan

In January 2019, a lawmaker from the AN 2015, Juan Guaidó, proclaimed himself as the interim president of the country. The argument was that the elections in 2018, where President Maduro was re-elected for a second term, were fraudulent. Guaidó was swiftly recognized by the U.S. and allied administrations.

Decision makers then in the Trump administration believed that they could trigger an uprising or military coup in Venezuela, by using a tough sanctions regime, diplomatic isolation, and the threat of invasion.

The European Union was a compliant commodity for the US capital vultures. UN Charter guarantees sovereignty of nations and non-intervention. American Century Pax and the NWO. The Replacement Theory of Colour Revolutions, a promising new era of fascism driven by Big Tech and today's AI.

U.S. Republican administration of George Bush and electronic voting systems [manipulation] sold to Venezuela ... after the successful  intervention in Palm Beach County butterfly ballots (John Bolton) to get GWB elected in the first place. American jewels of democracy expanded.

Behind-the scenes look at the political battle of battles: Bush v. Gore in 2000

'Sapere aude'

by Oui (Oui) on Thu Jun 20th, 2024 at 07:02:52 AM EST
[ Parent ]
Supreme Court will review Holocaust survivors' lawsuit against Hungary, 24 June
ECJ impunity that keeps on giving
In 2010, a group of Hungarian Holocaust survivors and their heirs brought a class-action suit against Hungary and its national railway, seeking compensation for their stolen property.
The district court dismissed the suit, holding that FSIA's treaty exception grants the Hungarian defendants immunity, that the 1947 Peace Treaty between the Allied Powers and Hungary set forth an exclusive mechanism for Hungarian Holocaust victims to obtain recovery for their property losses and that permitting the plaintiffs' lawsuit to proceed under FSIA would conflict with the peace treaty's terms. The U.S. Court of Appeals for the D.C. Circuit affirmed the dismissal as to the non-property claims and reversed as to the property-based claims.
The parties in the 14 years since have battled over whether American courts have jurisdiction to hear the case.
scotusblog | Republic of Hungary v Simon "expropriation exception" docket
[The Questions] before the Supreme Court is the exception's requirement that the property have a "commercial nexus" with the United States [eNTiTIeS?].
Petitioners Republic of Hungary, et al. ("Hungary") contend that federal courts can decline jurisdiction in this case because the FSIA does not destroy the federal court's discretion to exercise international-comity-based abstention. Hungary explains that comity-based-abstention allows U.S. courts to avoid "judicial interference in the conduct of foreign policy." Such abstention, Hungary continues, gives another, more appropriate sovereign the first opportunity to address a dispute relating to that sovereign.
The survivors claim Hungary co-mmingled the [sale] proceeds of their stolen property with other ["]funds["], and some of the proceeds are [80 years later] present in the United States in connection with Hungary's [eNTiTIeS?] commercial activity.
by Cat on Mon Jun 24th, 2024 at 04:49:38 PM EST
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