A U.S. court granted a 120-day stay in a legal battle between a hedge fund and V...
FILE PHOTO: Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. REUTERS/Carlos Garcia Rawlins/File Photo/File Photo
The move will delay proceedings in two suits brought by Red Tree Investments against PDVSA in New York courts for $182 million for allegedly defaulting on four loan agreements. The ruling could set a precedent for other suits against PDVSA and Venezuela’s government, which together have defaulted on some $8 billion in debt.
Guaido in January invoked Venezuela’s constitution to assume an interim presidency, arguing President Nicolas Maduro’s 2018 re-election was illegitimate. Guaido has been recognized by the United States and most Western countries as the South American nation’s rightful leader. Daniel Salinas, an attorney for Red Tree, declined to comment on the ruling. Red Tree had previously argued that granting the stay would amount to an “indefinite delay.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Curacao refinery, operated by PDVSA, receives exemption from Venezuela sanctionsCuracao's state-owned Isla oil refinery, which is operated by Venezuelan st...
Read more »
Venezuela's PDVSA to install generators for Chevron oilfields after blackoutsVenezuela's state-run oil company PDVSA said on Friday it would install 20 ...
Read more »
U.S. claims Venezuela's Maduro was 'ready to leave,' but Russia told him to staySecretary of State Mike Pompeo claimed Venezuelan President Nicolás Maduro 'had an airplane on the tarmac' but changed his mind on the advice of Russia.
Read more »
U.S. sending asylum seekers to Mexico while awaiting court ruling, in some cases ignoring own protocolsHundreds of migrants have been sent back to Mexico as part of experimental program that is subject to court action.
Read more »
Curacao refinery, operated by PDVSA, receives exemption from Venezuela sanctionsCuracao's state-owned Isla oil refinery, which is operated by Venezuelan st...
Read more »
Venezuela's PDVSA to install generators for Chevron oilfields after blackoutsVenezuela's state-run oil company PDVSA said on Friday it would install 20 ...
Read more »
U.S. military stops tracking key metric on Afghan war as situation deterioratesThe U.S. military has stopped tracking the amount of territory controlled or inf...
Read more »
Fed flags high U.S. business debt, asset prices in financial reportU.S. stock prices are 'elevated' and business debt is at historic leve...
Read more »
Woman convicted in the 'Fatal Attraction' murder case has been granted paroleAfter 27 years in prison, the woman convicted of killing her lover's wife in the so-called 'Fatal Attraction' murder has been granted parole, according to officials
Read more »
Pork prices could jump this year, stay elevated into 2020 due to China's pig crisisWith African swine fever ravaging China's hog industry, U.S. experts are expecting pork prices to go higher and likely stay elevated well into 2020.
Read more »
House passes bill to force U.S. to stay in Paris climate agreementThe Democratic measure is unlikely to pass the GOP-controlled Senate. But House leaders hope to use it paint Trump and other Republicans as backward on climate change.
Read more »