PDVSA Says Del. Suit Over $246M Debt Must Be Nixed

By Caroline Simson (March 15, 2022, 6:09 PM EDT) -- PDVSA continued Monday to fight efforts by a creditor owed $246 million to move ahead with litigation in Delaware to enforce the debt, despite a ruling this month from the same judge allowing several cases filed by other creditors of the country to proceed.

Venezuela's state-owned oil company argued that in his March 2 opinion, U.S. District Judge Leonard P. Stark did not address an argument it had raised in its motion to dismiss filed a day earlier — that the litigation filed by the creditor, Red Tree Investments LLC, runs afoul of U.S. sanctions on Caracas since it automatically creates...

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