Perez Sandoval v. Banco De Comercio, S.A.

In consolidated matters, Juan Vicente Perez Sandoval and Sandy Bay Investments Co. appeal from a final judgment in favor of plaintiffs/appellees, three interrelated Venezuelan financial institutions, in an action for fraud and misappropriation of funds and from a final judgment taxing attorney’s fees and costs. We affirm.1

The principal issue raised in this appeal is whether Venezuelan law applied by the trial judge,2 regulating Venezuelan financial institutions and its officers, was penal in nature. We conclude that the trial court properly held that the applicable Venezuelan banking laws…