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

  1. March 25, 2025

    Venezuelan Law Invalidates $2B Bonds, PDVSA Argues

    Venezuela's state-owned oil company is fighting back against efforts by creditors to enforce some $2 billion in defaulted bonds, dismissing as "illogical" the creditors' argument that the underlying bond documents were exempt from a requirement for National Assembly approval.

  2. March 19, 2025

    Bondholders Say $2B Venezuelan Bond Contracts Are Valid

    The holders of approximately $2 billion in defaulted bonds issued by Venezuela's state-owned oil company Petróleos de Venezuela SA have urged a New York federal court to enforce their contracts with PDVSA, saying the country hasn't shown how its domestic law makes the bonds invalid.

  3. January 17, 2025

    Venezuela Says $2B In Bonds Can't Be Enforced

    More than five years into litigation aimed at enforcing nearly $2 billion in defaulted bonds against Venezuela's state-owned oil company, the country is urging a New York federal judge to nix the case on the grounds that the bonds are illegal under its domestic law.

  4. June 29, 2023

    Bondholders Say Venezuela Deals Could Hurt Their Recovery

    The holders of some $1.9 billion in defaulted Venezuelan bonds urged a New York federal judge on Wednesday to protect the value of their collateral amid concern that Venezuela may look to settle with its creditors in order to stymie an upcoming auction for control of Citgo.

  5. January 04, 2021

    Bondholders Can't Forge Ahead With Citgo Sale Yet

    A New York judge has paused efforts by the holders of some $1.9 billion in defaulted Venezuelan bonds to move ahead with a sale of Citgo amid an ongoing appeal, even as U.S. sanctions preventing the sale were extended.

  6. December 21, 2020

    $2B Venezuelan Bond Enforcement Must Proceed, Judge Told

    Bondholders looking to collect more than $1.9 billion under defaulted Venezuelan bonds urged a New York federal judge Friday to let them forge ahead, arguing Caracas' attempt to put the sale of Citgo in a holding pattern could mean they're left behind as other creditors scramble for their share of the assets.

  7. 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.

  8. 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.

  9. 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.

  10. 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.