Perenco secures freeze on Ecuador accounts in Luxembourg
The Trans-Andean oil pipeline on the western slope of the Andes, Ecuador (Credit: Shutterstock/Dr Morley Read)
Bahamian oil company Perenco has frozen Luxembourg bank accounts used by Ecuador to make coupon payments associated with sovereign bonds, with the ICSID award holder claiming this raises the possibility of the state defaulting to creditors.
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