Venezuelan Creditor Moves Closer To Enforcing $246M Debt

By Caroline Simson (April 28, 2022, 8:30 PM EDT) -- A creditor owed some $246 million by Venezuela's state-owned oil company came closer to collecting the debt on Thursday after a judge in Delaware signaled his willingness to grant an attachment order over shares in Citgo's parent company, which is indirectly held by the debt-ridden country.

U.S. Circuit Judge Leonard P. Stark granted in part Red Tree Investments LLC's request to issue a writ of attachment over PDV Holding Inc., a subsidiary of Petróleos de Venezuela S.A., which is the indirect parent of U.S. petroleum company Citgo, saying he will order the clerk of the court to do so once the...

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