Travieso Evans Arria Rengel & Paz

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Suspension of Auction No. 16-2014

On February 5, 2014, the Venezuelan Central Bank (“VCB”) published a notice related to Call No. 16-2014, whereby the sixteenth special auction of foreign currency for legal persons of the Complementary System of Foreign Currency Administration (Sistema Complementario de Administración de Divisas - “SICAD”) was suspended. Said determination results from a group of anomalies and breaches of the required rules, detected through the exhaustive review of the purchase orders filed.

 

In order to access the notice about Call No. 16-2014, please click here:

http://www.bcv.org.ve/c5/sicad/avisosicad162014.pdf

 

“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”