Venezuela Says Sidetur Debt Should Be Paid by Previous Owners
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Venezuelan steelmaker Siderurgica del Turbio SA’s previous owners are responsible for paying debt taken on before the company was nationalized in 2010, Industry Minister Ricardo Menendez said today.
The South American country’s attorney general ruled on the matter, Menendez said on state television, after a trustee for bonds issued in 2006 by the Caracas-based steelmaker, known as Sidetur, said last week that they were in technical default.