Latest development Oct 21, 2026
The Third Circuit heard argument on the Citgo sale order on October 21, 2026. Closing also needs an OFAC license.
The award
- Amount awarded
- $118.2M (final judgment on defaulted bonds)
- Current estimate
- $118.2M plus post-judgment interest (about 0.11% a year, per the creditors’ August 2023 statement)
- Award holder
- ACL1 Investments Ltd., ACL2 Investments Ltd., and LDO (Cayman) XVIII Ltd. (holders of Venezuelan sovereign bonds)
- Respondent
- Bolivarian Republic of Venezuela
- Forum
- S.D.N.Y. No. 19-cv-9014 · Venezuelan sovereign bonds · stipulated final judgment
Challenges
None. Venezuela and the bondholders stipulated to the entry of final judgment (December 4, 2020), and the court entered it on December 7, 2020.
Enforcement
Registered in the D. Del. (Misc. No. 21-46) on February 5, 2021. The court conditionally granted a writ of attachment on PDV Holding shares on March 23, 2023. Fifth in the Citgo sale Final Priority Order (D. Del. 17-mc-151, April 3, 2024).
Recovered to date
None reported. The creditors reported no reduction of the judgment as of August 14, 2023.