Latest development Nov 2025
Reuters reported that it would recover “hardly anything” from the sale.
The award
- Amount awarded
- About $150M
- Award holder
- Siemens Energy Inc.
- Respondent
- PDVSA
- Forum
- U.S. District Court for the Southern District of New York (promissory notes)
Challenges
The Second Circuit affirmed on September 20, 2023.
Enforcement
Citgo queue: 11th. Siemens objected to the Amber Energy bid. A separate Texas suit (2024) concerns another note of about $200M.
Recovered to date
None