A General Motors plant has been seized by the Venezuelan government after producing goods for nearly seven decades, reports
General Motors Venezolana (GMV) has ceased all production in Venezuela after a plant was seized in Valencia on Wednesday afternoon.
A court in the state of Zulia imposed an embargo on the company’s assets.
GMV said that it’s associated bank accounts had also been seized, meaning that the company was unable to pay workers.
“GMV is taking all legal measures within its reach in order to protect the rights of its workers and their property,” GMV said in a statement while calling the seizure “improper, absurd, outside of legal logic and due process.”
Venezuela has been in political turmoil for years as the United Socialist Party (PSUV) has been in power for 18 years.
On one side are the militia and socialists, those that praise Hugo Chavez and his successor, Nicolas Maduro. They claim that these two men are the reason that inequality has been reduced in Venezuela, and for helping people out of poverty.
The people against the PSUV claim that since the party came to power in 1999, it has taken away the democratic freedom of its citizens, mismanaged the economy, becoming elitist and exploiting the poor to fill their own pockets.
Opposition supporters were enraged by the 15-year ban from public office imposed on Henrique Capriles, the opposition leader.