A U.S. federal judge has ruled that defaulted bonds issued by Venezuela’s state oil company PDVSA in 2016 remain valid, strengthening creditors’ claims on Citgo, the company’s prized U.S. refining subsidiary, Reuters reported. U.S. District Judge Katherine Polk Failla in Manhattan said Thursday that PDVSA’s 2020 bonds were properly issued under Venezuelan law, rejecting the company’s argument that they had …
Read More »Citgo Refineries at Risk After U.S. Court Decision
