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 York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.