Latest development Jan 2026
Due to receive at least $330M at closing under the Amber Energy deal (Forbes, January 2026).
The award
- Amount awarded
- About $246M
- Award holder
- Red Tree Investments LLC (a Contrarian affiliate)
- Respondent
- PDVSA
- Forum
- U.S. District Court for the Southern District of New York, 19-cv-2519 (contract claim)
Challenges
The Second Circuit affirmed, rejecting a defense that sanctions made payment impossible.
Enforcement
Citgo queue: 6th. Red Tree was the stalking-horse bidder in March 2025 ($3.7B).
Recovered to date
None