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,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!