Everyone Is Getting Ready For Venezuela To Go Bankrupt



Fortune: Venezuelan Bondholders Are Preparing for a Fight if the Country Defaults on its $60 Billion Debt

Holders of Venezuelan bonds are meeting with each other and considering forming committees, advisers and fund managers told Reuters, as questions mount about the feasibility of President Nicolas Maduro’s proposal to restructure $60 billion of debt.

Maduro has said the country will keep servicing its obligations for now. But bondholders ranging from longstanding investment funds to hedge funds and emerging markets funds in the United States and elsewhere are starting to lay the foundations for a potentially bitter and messy battle over a possible default down the road.

A UK-based hedge fund, MacroSynergy Partners, has invited institutional holders of Venezuelan and state-owned oil company PDVSA debt to a Nov. 30 meeting in London to discuss the likely path forward and the next steps for creditors,

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