ACL1 Investments Ltd. et al v. Bolivarian Republic of Venezuela, No. 1:2019cv09014 - Document 52 (S.D.N.Y. 2020)

Court Description: FINAL JUDGMENT AND PERMANENT INJUNCTION:IS FURTHER ORDERED, ADJUDGED AND DECREED THAT:The Republic is liable to the Plaintiffs for damages in the following amounts: To Plaintiff ACLl Investments Ltd. on account of 2004 Issuance of the 2034s(ISIN US92 2646BL 74):a. For non-payment of principal due on December 6, 2018 as a result of theacceleration of the indebtedness: $57,215,000.b. Interest on $57,215,000 of principal at the rate of 9.375% per annum computedstarting July 13, 2020 t hrough December 1, 2020, such interest being equal to$2,056,164.06.c. For non-payment of six (6) due and unpaid biannual interest payments due oneach of January 13, 2018, July 13, 2018, January 13, 2019, July 13, 2019, January13, 2020, and July 13, 2020:1. For non-payment of an interest payment due on January 13, 2018,$2,681,953.13, plus interest thereon at the rate of 9% per annum simpleinterest starting from January 14, 2018, through December 1, 2020, suchinterest being equal to $696,352.60;11. For non-payment of an interest payment due on July 13, 2018,$2,681,953.13, plus interest thereon at the rate of 9% per annum simpleinterest starting from July 14, 2018, through December 1, 2020, suchinterest being equa l to $576,656.66; For non-payment of an interest payment due on January 13, 2019,$2,681,953.13, plus interest thereon at the rate of 9% per annum simpleinterest starting from January 14, 2019, through December 1, 2020, suchinterest be ing equal to $454,976.82;1v. For non-payment of an interest payment due on July 13, 2019,$2,681,953.13, plus interest thereon at the rate of 9% per annum simpleinterest starting from July 14, 2019, through December 1, 2020, suchinteres t being equal to $335,280.88;v. For non-payment of an interest payment due on January 13, 2020,$2,681,953.13, plus interest thereon at the rate of 9% per annum simpleinterest starting from January 14, 2020, through December 1, 2020, su chinterest being equal to $213,601.03; andv1. For non-payment of an interest payment due on July 13, 2020,$2,681,953.13, plus interest thereon at the rate of 9% per annum simpleinterest starting from July 14, 2020, through December I, 2020, suchinterest being equal to $93,243.79. For coupon and prejudgment interest following December 1, 2020, $18,867.56per day until the date on which this judgment is entered on the docket of theCourt. To Plaintiff ACL2 Investments Ltd. o n account of 2004 Issuance of the 2034s(ISIN US922646BL 74): For non-payment of principal due on December 6, 2018 as a result of theacceleration of the indebtedness: $20,288,000. Interest on $20,288,000 of principal at the rate of 9.375 7; per annum computedstarting July 13, 2020 through December 1, 2020, such interest being equal to$729,100.00.c. For non-payment of six (6) due and unpaid biannual interest payments due oneach of January 13, 2018, July 13, 2018, January 13, 2019 , July 13, 2019, January13, 2020, and July 13, 2020:1. For non-payment of an interest payment due on January 13, 2018,$951,000, plus interest thereon at the rate of 9% per annum simple intereststarting from January 14, 2018, through Decembe r 1, 2020, such interestbeing equal to $246,921.29;11. For non-payment of an interest payment due on July 13, 2018, $951,000,plus interest thereon at the rate of 9% per annum simple interest startingfrom July 14, 2018, through December 1, 2020, such interest being equalto $204,478.03;m. For non-payment of an interest payment due on January 13, 2019,$951,000, plus interest thereon at the rate of 9% per annum simple intereststarting from January 14, 2019, through Dece mber 1, 2020, such interestbeing equal to $161,331.29;1v. For non-payment of an interest payment due on July 13, 2019, $951,000,plus interest thereon at the rate of 9% per annum simple interest startingfrom July 14, 2019, through Decem ber 1, 2020, such interest being equal to $118,888.03; For non-payment of an interest payment due on January 13, 2020,$951,000, plus interest thereon at the rate of 9% per annum simple intereststarting from January 14, 2020, through De cember 1, 2020, such interestbeing equal to $75,741.29; andv1. For non-payment of an interest payment due on July 13, 2020, $951,000,plus interest thereon at the rate of 9% per annum simple interest startingfrom July 14, 2020, through December 1, 2020, such interest being equalto $33,063.53.d. For coupon and prejudgment interest following December 1, 2020, $6,690.29 perday until the date on which this judgment is entered on the docket of the Court;and To Plaintiff LDO (C ayman) XVIII Ltd. on account of 2004 Issuance of the 2034s(ISIN US922646BL 74):a. For non-payment of principal due on December 6, 2018 as a result of theacceleration of the indebtedness: $9,197,000.b. Interest on $9,197,000 of principal at the rate of 9.375% per annum computedstarting July 13, 2020 through December 1, 2020, such interest being equal to$330,517.19.c. For non-payment of six (6) due and unpaid biannual interest payments due oneach of January 13, 2018, July 13, 2 018, January 13, 2019, July 13, 2019, January13, 2020, and July 13, 2020:1. For non-payment of an interest payment due on January 13, 2018,$431,109.38, plus interest thereon at the rate of 9% per annum simple interest starting from January 14, 2018, through December 1, 2020, suchinterest being equal to $111,934.89;11. For non-payment of an interest payment due on July 13, 2018,$431,109.38, plus interest thereon at the rate of 9% per annum simpleinterest starting from Jul y 14, 2018, through December 1, 2020, suchinterest being equal to $92,694.42;m. For non-payment of an interest payment due on January 13, 2019,$431,109.38, plus interest thereon at the rate of 9% per annum simpleinterest starting from January 14, 2019, through December 1, 2020, suchinterest being equal to $73,135.05;1v. For non-payment of an interest payment due on July 13, 2019,$431,109.38, plus interest thereon at the rate of 9% per annum simpleinterest starting f rom July 14, 2019, through December 1, 2020, suchinterest being equal to $53,894.58;v. For non-payment of an interest payment due on January 13, 2020,$431,109.38, plus interest thereon at the rate of 9% per annum simpleinterest startin g from January 14, 2020, through December 1, 2020, suchinterest being equal to $34,335.20; and For non-payment of an interest payment due on July 13, 2020,$431,109.38, plus interest thereon at the rate of 9% per annum simpleinterest st arting from July 14, 2020, through December 1, 2020, suchinterest being equal to $14,988.43; and For coupon and prejudgment interest following December 1, 2020, $3,032.86 perday until the date on which this judgment is entered on the docket of the Court;and To Plaintiffs jointly on account of out-of-pocket expenses due under Section 7 ofthe Terms and Conditions of the 2004 Issuance of the 2034s (ISIN US922646BL 74) as of thedate of the judgment: $220,000; and Each Plaintiff and a ny of its successors or assigns; and anyone acting on its behalf,including its officers, agents, servants, employees, trustees, beneficial owners, and attorneys; andall persons and organizations acting in concert with any of them are hereby PERMANENT LYENJOINED from selling or otherwise transferring in any manner the securities or securityentitlements on which each Plaintiff has brought suit in this case identified as ISINUS922646BL 74, unless (i) such sale or transfer also includes the Plaintiff s correspondinginterest in this judgment, and (ii) the Plaintiff provides to the Republic through counsel of recordin this action three (3) calendar days' prior written notice of the settlement of any such sale ortransfer; and The Plaintiffs an d any of their successors or assigns; and anyone acting on their behalf,including their officers, agents, servants, employees, trustees, beneficial owners, and attorneys;and all persons and organizations acting in concert with any of them, shall be bound by the termsof the parties' Stipulation for Entry of Final Judgment and Permanent Injunction dated December4,2020 and further set forth in this Order. (Signed by Judge Louis L. Stanton on 12/7/2020) (rro)

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ACL1 Investments Ltd. et al v. Bolivarian Republic of Venezuela Doc. 52 Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 1 of 8 - nt 1'11 1 ' • i '-III• I t ·: usnc SDNV ... UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK DOCl''.\IE\T ELECTRO:\ICALLY FILE L DOC#: -----,....,..,__,.. __ I /-1-/?/ 1- D DA TE FILED: X ACLI INVESTMENTS LTD., ACL2 INVESTMENTS LTD., and LDO (CAYMAN) XVIII LTD., No. 19-cv-09014-LLS Plaintiffs, v. BOLIV ARIAN REPUBLIC OF VENEZUELA, Defendant. ------------------X FINAL JUDGMENT AND PERMANENT INJUNCTION WHEREAS, this Court having subject matter jurisdiction over this case and personal jurisdiction over Defendant the Bolivarian Republic of Venezuela (the "Republic"), the Republic having appeared before the Court and not contesting the Court's jurisdiction; WHEREAS, the parties having conducted informal discovery in which plaintiffs provided evidence to the Republic of plaintiffs' standing to sue, identity, and continuing ownership interest in the debt securities placed in issue by the Amended Complaint; and WHEREAS, the parties having reached a stipulation for the entry of judgment for the reasons and on the terms set forth therein; IT IS HEREBY ORDERED, ADJUDGED AND DECREED: Final Judgment is entered in favor of Plaintiffs ACLl Investments Ltd., ACL2 Investments Ltd., and LDO (Cayman) XVIII Ltd. (the "Plaintiffs") against the Republic for breach of contract; and 6 Dockets.Justia.com Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 2 of 8 IT IS FURTHER ORDERED, ADJUDGED AND DECREED THAT: The Republic is liable to the Plaintiffs for damages in the following amounts: I. To Plaintiff ACLl Investments Ltd. on account of 2004 Issuance of the 2034s (ISIN US922646BL 74): a. For non-payment of principal due on December 6, 2018 as a result of the acceleration of the indebtedness: $57,215,000. b. Interest on $57,215,000 of principal at the rate of 9.375% per annum computed starting July 13, 2020 through December 1, 2020, such interest being equal to $2,056,164.06. c. For non-payment of six (6) due and unpaid biannual interest payments due on each of January 13, 2018, July 13, 2018, January 13, 2019, July 13, 2019, January 13, 2020, and July 13, 2020: i. For non-payment of an interest payment due on January 13, 2018, $2,681,953.13, plus interest thereon at the rate of 9% per annum simple interest starting from January 14, 2018, through December 1, 2020, such interest being equal to $696,352.60; 11. For non-payment of an interest payment due on July 13, 2018, $2,681,953.13, plus interest thereon at the rate of 9% per annum simple interest starting from July 14, 2018, through December 1, 2020, such interest being equal to $576,656.66; iii. For non-payment of an interest payment due on January 13, 2019, $2,681,953.13, plus interest thereon at the rate of 9% per annum simple 7 Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 3 of 8 interest starting from January 14, 2019, through December 1, 2020, such interest being equal to $454,976.82; iv. For non-payment of an interest payment due on July 13, 2019, $2,681,953.13, plus interest thereon at the rate of9% per annum simple interest starting from July 14, 2019, through December 1, 2020, such interest being equal to $335,280.88; v. For non-payment of an interest payment due on January 13, 2020, $2,681,953.13, plus interest thereon at the rate of9% per annum simple interest starting from January 14, 2020, through December I, 2020, such interest being equal to $213,601.03; and v1. For non-payment of an interest payment due on July 13, 2020, $2,681,953.13, plus interest thereon at the rate of 9% per annum simple interest starting from July 14, 2020, through December 1, 2020, such interest being equal to $93 ,243 .79. d. For coupon and prejudgment interest following December 1, 2020, $18,867.56 per day until the date on which this judgment is entered on the docket of the Court. 2. To Plaintiff ACL2 Investments Ltd. on account of 2004 Issuance of the 2034s (ISIN US922646BL 74): a. For non-payment of principal due on December 6, 2018 as a result of the acceleration of the indebtedness: $20,288,000. 8 Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 4 of 8 b. Interest on $20,288,000 of principal at the rate of 9.375% per annum computed starting July 13, 2020 through December 1, 2020, such interest being equal to $729,100.00. c. For non-payment of six (6) due and unpaid biannual interest payments due on each of January 13, 2018, July 13, 2018, January 13, 2019, July 13, 2019, January 13, 2020, and July 13, 2020: 1. For non-payment of an interest payment due on January 13, 2018, $951,000, plus interest thereon at the rate of 9% per annum simple interest starting from January 14, 2018, through December 1, 2020, such interest being equal to $246,921 .29; ii. For non-payment ofan interest payment due on July 13, 2018, $951,000, plus interest thereon at the rate of 9% per annum simple interest starting from July 14, 2018, through December 1, 2020, such interest being equal to $204,478.03; m. For non-payment of an interest payment due on January 13, 2019, $951,000, plus interest thereon at the rate of9% per annum simple interest starting from January 14, 2019, through December 1, 2020, such interest being equal to $161,331.29; 1v. For non-payment of an interest payment due on July 13, 2019, $951,000, plus interest thereon at the rate of 9% per annum simple interest starting from July 14, 2019, through December 1, 2020, such interest being equal to $118,888.03; 9 Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 5 of 8 v. For non-payment of an interest payment due on January 13, 2020, $951,000, plus interest thereon at the rate of 9% per annum simple interest starting from January 14, 2020, through December 1, 2020, such interest being equal to $75,741.29; and v1. For non-payment of an interest payment due on July 13, 2020, $951,000, plus interest thereon at the rate of 9% per annum simple interest starting from July 14, 2020, through December I, 2020, such interest being equal to $33,063.53. d. For coupon and prejudgment interest following December 1, 2020, $6,690.29 per day until the date on which this judgment is entered on the docket of the Court; and 3. To Plaintiff LDO (Cayman) XVIII Ltd. on account of 2004 Issuance of the 2034s (ISIN US922646BL 74): a. For non-payment of principal due on December 6, 2018 as a result of the acceleration of the indebtedness: $9,197,000. b. Interest on $9,197,000 of principal at the rate of 9.375% per annum computed starting July 13, 2020 through December 1, 2020, such interest being equal to $330,517.19. c. For non-payment of six (6) due and unpaid biannual interest payments due on each of January 13, 2018, July 13, 2018, January 13, 2019, July 13, 2019, January 13, 2020, and July 13, 2020: 1. For non-payment of an interest payment due on January 13, 2018, $4 31, l 09 .38, plus interest thereon at the rate of 9% per annum simple 10 Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 6 of 8 interest starting from January 14, 2018, through December 1, 2020, such interest being equal to $111,934.89; ii. For non-payment of an interest payment due on July 13, 2018, $431,109.38, plus interest thereon at the rate of9% per annum simple interest starting from July 14, 2018, through December 1, 2020, such interest being equal to $92,694.42; iii. For non-payment of an interest payment due on January 13, 2019, $431,109.38, plus interest thereon at the rate of 9% per annum simple interest starting from January 14, 2019, through December 1, 2020, such interest being equal to $73,135.05; iv. For non-payment of an interest payment due on July 13, 2019, $431,109.38, plus interest thereon at the rate of 9% per annum simple interest starting from July 14, 2019, through December 1, 2020, such interest being equal to $53,894.58; v. For non-payment of an interest payment due on January 13, 2020, $431,109.38, plus interest thereon at the rate of 9% per annum simple interest starting from January 14, 2020, through December 1, 2020, such interest being equal to $34,335.20; and vi. For non-payment of an interest payment due on July 13, 2020, $431,109.38, plus interest thereon at the rate of 9% per annum simple interest starting from July 14, 2020, through December 1, 2020, such interest being equal to $14,988.43; and 11 Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 7 of 8 d. For coupon and prejudgment interest following December 1, 2020, $3,032.86 per day until the date on which this judgment is entered on the docket of the Court; and 4. To Plaintiffs jointly on account of out-of-pocket expenses due under Section 7 of the Terms and Conditions of the 2004 Issuance of the 2034s (ISIN US922646BL74) as of the date of the judgment: $220,000; and IT IS FURTHER ORDERED, ADJUDGED AND DECREED THAT: Each Plaintiff and any of its successors or assigns; and anyone acting on its behalf, including its officers, agents, servants, employees, trustees, beneficial owners, and attorneys; and all persons and organizations acting in concert with any of them are hereby PERMANENTLY ENJOINED from selling or otherwise transferring in any manner the securities or security entitlements on which each Plaintiff has brought suit in this case identified as ISIN US922646BL 74, unless (i) such sale or transfer also includes the Plaintiffs corresponding interest in this judgment, and (ii) the Plaintiff provides to the Republic through counsel of record in this action three (3) calendar days' prior written notice of the settlement of any such sale or transfer; and IT IS FURTHER ORDERED, ADJUDGED AND DECREED THAT: The Plaintiffs and any of their successors or assigns; and anyone acting on their behalf, including their officers, agents, servants, employees, trustees, beneficial owners, and attorneys; and all persons and organizations acting in concert with any of them, shall be bound by the terms of the parties' Stipulation for Entry of Final Judgment and Permanent Injunction dated December 4,2020;and 12 , ' 1 r Case 1:19-cv-09014-LLS Document 52 Filed 12/07/20 Page 8 of 8 IT IS FURTHER ORDERED, ADJUDGED AND DECREED THAT: This Court shall retain non-exclusive jurisdiction over matters related to the enforcement of this judgment. Dated: New York, New York 1J..u . Tl 7 , 2020 SO ORDERED: lef½t~ .L .sfr&uiuh LOUIS L. ST ANTON United States District Judge l3

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