Creditor Can Proceed With $118M Venezuelan Debt Case

Law360 (January 15, 2020, 8:43 PM EST) -- A creditor of Venezuela's state-owned oil company that claims it's owed more than $118 million can proceed with litigation to enforce the debt after a New York federal judge ruled that it wouldn't be fair to keep the case on hold until the country is politically stable.

U.S. District Judge Alison J. Nathan on Tuesday denied Petróleos de Venezuela SA's bid to continue a stay on the case filed by Red Tree Investments LLC for 120 days, pointing to other creditors' cases that are currently advancing against the crisis-stricken nation and its oil company. Red Tree's case, filed early last year,...

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