Venezuela Defaults on Its Last Bond, Setting Up Legal Showdown

(Bloomberg) -- The team advising Venezuelan National Assembly President Juan Guaido skipped a payment Monday on the nation’s only bonds not in default, setting up a legal showdown with creditors.Rather than pay the $913 million due on Petroleos de Venezuela’s 2020 notes, Guaido’s advisers say they will take legal action against investors to fight any efforts to seize the collateral on the bonds -- 50.1% of Citgo Holding Inc.’s shares. Their argument is that the debt is il