„It`s a political issue,“ he said. „It has to go through the international courts, through OFAC, it`s a purely political issue, it goes through the agreements and negotiations that have reached the (Venezuelan) central government with the U.S. government,“ he said. „Any rescheduling or government financing agreement is not valid in international courts“ if it does not comply with New York law and under the U.S. Office of Foreign Assets Control (OFAC). This toll agreement („agreement“) is concluded from 1 2019 („effective date“) by and between the Financial Supervisory Board and the Oversight Board, acting through its Special Claims Committee, the Official Committee of Unsecured Creditors for Title III Debtors (the „Committee“) and the U.S. Bank Trust National Association (the „Trustee“) , acting exclusively as an agent for the holders of the Puerto Rico Infrastructure Financing Authority (PRIFA) , B, C and 2006 (together the „bonds“ and holders of the bonds issued under this trust contract determined on October 1, 1988 as amended (the „contract of trust“) As stated here, each trustee, supervisory board and committee are a „party“ and , together, the „parties.“ This agreement deals with the following facts: a final mystery is that Venezuelan bonds appear to contain different statutes of limitations. As far as we can tell, the demarcation line is that most of the outstanding bonds were issued as part of a 2001 financial agency agreement. Previous bonds were issued under previous tax agreements, with slightly different provisions. This limitation agreement („Toll Agreement 2017“) to challenge the City of Fillmore`s refusal of a building permit to KB HOME Greater Los Angeles Inc., a California-based company („KB“), will be introduced on April 25, 2017 („Date of Effect“) by and between City of Fillmore („Fillmore“) and KB, collectively known as „parties,“ and „party.“ The term „party“ includes company executives, employees and representatives. Delcy Rodriguez, who was appointed last week, said his government would waive a statute of limitations in the prospectuses of certain bonds if creditors agreed not to sue for non-payment or to sue with claims if a lawsuit has already been filed.
An agreement will now allow for a smoother restructuring in the future, Rodriguez said.