LICENSE No. VENEZUELA-EO13884-2019-XXXXX (April 29, 2021)

Date issued: Apr. 29 2021

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TURBOFAC Commentary (928 words)

Notes:

1) BACKGROUND; TIMELINE OF RELEVANT EVENTS

This license is connected to a litigation that started in 2012 in the United States District Court for the Southern District of Florida (SDFL), and involves a breach of contract claim made by a natural U.S. person plaintiff against the Government of Venezuela.

On Apr 24, 2014 the plaintiff was awarded a default judgment against Venezuela for $7,464,953.12 (ECF 26), along with writs of garnishment to execute on U.S.-located funds (ECF 31), but the judgment was ultimately vacated (Jun 12, 2015 – ECF 101) the writs dissolved.

On May 10, 2018, after the
August 24, 2017 issuance of EO 13808 (prohibiting dealings in “new debt” of the Government of Venezuela), the 11th Circuit Court of Appeals issued an opinion determining that the lawsuit could proceed notwithstanding the Foreign Sovereign...