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And he need not buy in Argentina as inflation resurged.
There is a wide array of laws and regulations relating to health, safety and environment that must be taken into consideration for the erection and operation of project facilities. Furthermore, in case bankruptcy procedures are initiated, the pledge will remain in place but foreclosure and execution will be consolidated in and advanced by the bankruptcy court. Mortgages on movable property and pledges without transfer of possession can only be granted in favour of banks and other financial institutions licensed to operate in Venezuela, foreign financial institutions authorised by the Superintendence of Banks and Financial Institutions, or certain other entities which may be authorised but which relate to security over a very particular type of property e. All said treaties provide for obligations to grant, inter alia , fair and equitable treatment, full protection and security, non-discrimination, protection against illegal expropriation, access to foreign currency for remittances and repatriation, and most-favoured-nation MFN treatment.
