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Petroleos De Venezuela S.A. et al v. MUFG Union Bank, N.A. et al

  1. December 14, 2020

    PDVSA Unit Says Bondholders Must Wait To Collect $1.9B

    Venezuela's state-owned oil company urged a New York federal court to stay an effort by bondholders to sell off its controlling share of a U.S.-based fuel company while the company appeals a ruling that mandated it pay back more than $1 billion in defaulted bonds plus interest.

  2. October 16, 2020

    NY Judge Says $1.68B In Venezuelan Bonds Is Enforceable

    Venezuela's state-owned oil company must pay what it owes under $1.68 billion in defaulted bonds, even though the country's National Assembly has concluded they were illegally issued by the administration of President Nicolás Maduro, a New York judge concluded on Friday.

  3. September 25, 2020

    U.S. Pressed For Firm Stance In Venezuelan Bond Case

    A New York federal judge on Friday grilled a lawyer representing the U.S. government on whether she should defer to Venezuelan's denunciation of the some $1.68 billion in bonds, even as she acknowledged later that it would be a "very harsh result" to deny the bondholders what they're owed.

  4. July 30, 2020

    Venezuelan Law Expert's Name In Bond Case Will Stay Secret

    The holders of some $1.68 billion in Venezuelan bonds won't have to unmask an expert who argues that the bonds comply with Venezuelan law after a New York judge concluded that the person could face retaliation as a result of his involvement in the case, which raises complicated political issues in the country.

  5. July 23, 2020

    Judge Won't Nix Venezuelan Ambassador's Args In Bond Case

    A New York judge won't disregard a letter from Venezuela's U.S. ambassador arguing that some $1.68 billion in bonds issued by the country's state-owned oil company violate Venezuelan law, saying it could be useful as she considers whether to allow the bondholders to seize shares in Citgo's parent company.

  6. July 15, 2020

    US Extends Protections On Citgo In Venezuelan Bond Case

    The Trump administration on Wednesday extended protections barring the holders of Venezuelan bonds from executing on Citgo, the "foreign crown jewel" of Venezuela's oil industry, which was pledged as collateral to the bondholders by Venezuelan President Nicolás Maduro in an allegedly illegal 2016 deal.

  7. July 07, 2020

    Venezuela Says Holders Of $1.68B Oil Co. Bonds Knew Risks

    Venezuela's state-owned oil company is arguing that the holders of some $1.68 billion in Venezuelan bonds should have known that their validity could be challenged by a successor government, even as the bondholders contend that adopting such a view would "upend" the international sovereign debt market.

  8. June 29, 2020

    Bondholders Say Venezuela Defense In $1.68B Case Falls Flat

    The holders of some $1.68 billion in Venezuelan bonds are arguing that leaked comments made by the country's special attorney general acknowledging the weakness of its legal efforts to protect Citgo undermine arguments from the country's U.S. ambassador that the bonds violate Venezuelan law.

  9. June 25, 2020

    Court Seeks US Input On Venezuela's $1.68B Oil Bonds

    A New York judge is asking the Trump administration whether she should defer to Venezuela's denunciation of some $1.68 billion in bonds issued by its state-owned oil company after Venezuelan President Nicolás Maduro allegedly broke the country's laws when he put up Citgo as collateral.

  10. June 10, 2020

    Venezuelan Ambassador Says 2020 Bonds Are Invalid

    Venezuela's U.S. ambassador is urging a New York federal court not to allow the holders of some $1.68 billion in bonds issued by its state-owned oil company to foreclose on a majority share in Citgo, saying President Nicolás Maduro violated Venezuelan law when he put up the U.S.-based oil giant as collateral.