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Foley Hoag Llp
Foley Hoag Wins Key Victory for Government of Bolivia in Investor Dispute over Nationalization of Telephone Company Entel
August 17th, 2008
Foley Hoag LLP secured a critical victory for the government of Bolivia when a federal judge held that foreign investors in a recently nationalized company had improperly attached the company's U.S. assets, and issued an order dissolving the attachment. The decision could have major implications in other state-investor disputes in Latin America and elsewhere tied to nationalization of corporate assets. Judge Laura Swain of the Southern District of New York ruled this week that European investors in Bolivia's national telephone company Entel, whose shares were nationalized by Bolivia on May 1, had no right to seize any of Bolivia's or the company's assets in U.S. banks....
Source: Pharma Investments, Ventures & Law Weekly (2008-08-17)
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