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
- $533.8M (final default judgment)
- Current estimate
- $545.9M with post-judgment interest as of December 21, 2023, per the creditors
- Award holder
- Altana Credit Opportunities Fund SPC, Altana Credit Opportunities Fund 1 SP, and Altana Funds Ltd. Cayman (holders of Venezuelan sovereign bonds)
- Respondent
- Bolivarian Republic of Venezuela
- Forum
- S.D.N.Y. No. 20-cv-8402 · Venezuelan sovereign bonds · default judgment
Challenges
Default judgment. The creditors state that Venezuela did not appear in the New York action. No challenge verified.
Enforcement
Registered in the D. Del. (Misc. No. 23-608). Venezuela opposed Altana’s late entry into the Citgo sale process (January 2024). Altana ranks 18th and last in the Final Priority Order (April 3, 2024).
Recovered to date
None. The creditors state that Venezuela has made no payment.