it seems the immediate hurdles are out of the way. so now what? it looks like hugo will lose his national assembly support in 2010' (not sure how this affects us). kry still needs $$$..... do we sit and wait for a financial backer now or file??

my feeling is that we need a backer to carry us thru a change in govt. all indications are within 2 years venezuela should be a friendly place to do business again.

as much as i dont really like the idea i think our best course of action is to stay solvent and basically do nothing until the political environment changes, BUT, i dont know how this would affect our ICSID case... if we wait too long will that hurt our case or lose some rights.

so i guess the question is, what now?

maybe we'll get lucky and hugo was just waiting to see what the noteholder action would bring....a BK from kry would have given him an easy out of the MOC...it looks like we're back to a stalemate....at least for the next few months...