The Commercial Code is a very old law. The bankruptcy and moratorium proceedings are not appropriate for dealing with the problems that arise in modern cases of insolvency or near-insolvency.

This article is intended to provide the international lawyer with an outline of the Venezuelan legal requirements for international loans granted to the Bolivarian Republic of Venezuela (the "<U>Republic</U>") and issues of debt securities by the Republic. The focus is on international and not domestic debt transactions.