CARACAS, May 20 (Reuters) – Venezuelas opposition has hired veteran debt lawyer Lee Buchheit to help restructure the countrys more than $150 billion debt burden, suggesting it could take a tough approach to dealing with investors holding defaulted bonds.
Buchheit, a former Cleary Gottlieb attorney who has represented several governments in debt talks with bond investors, published an academic article last year suggesting ways for a future Venezuela government to minimize debt repayments.
In late October, Buchheit co-authored the paper arguing that Venezuela would be a candidate to benefit from a potential U.S. executive order protecting its assets from seizure by creditors. That could facilitate an orderly resolution that would entice to…
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