Chavez orders more land taken from British firm
Legal World
Venezuela's president on Sunday ordered the expropriation of 716,590 acres belonging to a British-owned company amid a disagreement over compensation for earlier takeovers of ranchland from the firm.
President Hugo Chavez announced the latest seizure after saying that Venezuela refuses to pay compensation in foreign currency to Agropecuaria Flora, a local subsidiary of the British company Vestey Group.
Chavez said the government had received a demand from the company that it be paid in dollars for the previous seizure of tens of thousands of acres. But the government insists in paying in bolivars, Venezuela's currency.
It's difficult for foreign companies operating in Venezuela to repatriate profits and other income in bolivars due to foreign currency controls in the South American country.
Representatives of Agropecuaria Flora did not answer telephone calls seeking comment Sunday.
Venezuela's expropriation of farm and ranch lands began in earnest in 2005, with the government employing a 2001 law allowing it to seize lands deemed idle or not adequately used.
Related listings
-
Japanese nurse sentenced to hanging in Malaysia
Legal World 10/25/2011A Malaysian court has sentenced a Japanese nurse to death by hanging for drug trafficking.The High Court in central Selangor state found 37-year-old Mariko Takeuchi guilty of transporting 7.7 pounds (3.5 kilograms) of methamphetamine in a suitcase wh...
-
Swiss sports court overturns Olympic doping rule
Legal World 10/06/2011Olympic champion LaShawn Merritt was cleared to defend his 400-meter title in London next year after the American won his appeal Thursday against an IOC rule banning doping offenders from the games. The Court of Arbitration for Sport annulled the Int...
-
Lawyer for 2 Americans held in Iran back in court
Legal World 09/20/2011The lawyer for two Americans jailed as spies in Iran was back in court Tuesday seeking a second judge's signature on a bail deal that could free them after more than two years behind bars.Shane Bauer and Josh Fattal were detained along the Iran-Iraq ...
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.