The violation of sanctions against Venezuela continues to bring individuals who contributed to these infringements before U.S. courts. In this instance, Taskin Torlak, a Turkish citizen, is accused of conspiring to violate the International Emergency… Turkish Businessman Faces US Court for Sanctions Violations Benefiting PDVSA in 2026
The intricacies of the CITGO auction are evident from various angles, one of which involves the U.S. Second Circuit Court of Appeals. Petróleos de Venezuela S.A. (PDVSA) and its subsidiaries have filed a motion to… CITGO Auction Exposes Legal Turmoil as PDVSA Challenges 2020 Bonds Amidst Controversial Sale
Venezuela is seeing an increase in lawsuits and payment judgments, including one from Siemens Energy INC., which is seeking to collect USD 200 million from PDV Holding INC., the owner of CITGO Petroleum Corporation, claiming… Siemens Pursues Over $200 Million Debt from Venezuela Amid Numerous Legal Challenges and Accusations of Fraudulent Corporate Practices
The CITGO auction has been paused by the Delaware Court due to the Southern District of New York’s decision affirming the validity of the PDVSA 2020 Bonds. Judge Katherine Polk Failla, overseeing the case of… CITGO Auction Halted Amid Controversial Validation of PDVSA 2020 Bonds in Delaware Court
The Delaware District Court partially granted a motion filed by Gold Reserve and the Venezuela Parties, seeking to compel a statement from an ad hoc group of PDVSA 2020 Bondholders, which will be significant for… CITGO Auction Scandal: Court Forces 2020 PDVSA Bondholders to Justify Stance on Amber Energy’s Offer Amid Legal Maneuvering
Former employees of Petróleos de Venezuela S.A. affiliated with the Retirees’ Pension Fund of PDVSA have been fighting for a decade for the payment of a massive debt that the oil company owes them, which… Decade of Betrayal: PDVSA Pension Fund’s Massive Debt to Retirees Remains Unpaid
Breaking away from the trend that has dominated other U.S. courts in recent years, the New York Court dismissed the alter ego theory to hold PDV Holding liable for PDVSA’s debts. Judge Jed S. Rakoff… New York Court Rejects Alter Ego Argument, Shields PDV Holding from PDVSA’s Debt Accountability
A new chapter unfolds in the extensive saga surrounding the CITGO auction, as a wave of lawsuits against Venezuela and Petróleos de Venezuela S.A. expands with a new case filed by Hong Kong-based Asia Genius… CITGO Auction: Asia Genius Pursues $131 Million Arbitral Award Against Bariven and PDVSA in Delaware Court