Venezuela should try to recover an investment that reaches EUR 297 million that two of the public funds of the country made the Holy Spirit International. The Economic Daily advances that Portuguese companies that have billions of euros receiving in Venezuela can be harmed by this process.
The Venezuelan State has already contacted Lisbon and will be prepare to go to court to recover funds lost with investment in commercial paper of the Holy Spirit Group.
The claim refers to investments made by two funds Venezuelans, Banco de Desarrollo Economico e Social de Venezuela (BANDES), and the Fondo de Desarrollo Nacional (FONDEN) in debt Holy Spirit International, then holding Espírito Santo Group.
The Economic Daily adds that this process can hinder business Portuguese companies in Venezuela, some of which have had trouble getting money from that country due to laws that strictly control the money that can leave abroad.
In June 2014, Ricardo Salgado, then chief executive of Banco Espirito Santo (BES), will last two letters of comfort to Venezuelan banks which guaranteed the repayment of the money invested. However, these may not have legal validity, since they were not signed by the management of BES , but only by Salgado and his cousin José Manuel Holy Spirit.
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