Venezuela Creditors' Portal

New York. 24th February 2020 – After securing a motion for Summary Judgment, Dresser-Rand requested permission to enter in a final judgment against PDVSA over USD 130 million in unpaid promissory notes. PDVSA answered with a letter requesting the motion to be denied as premature, saying reconsideration of the court’s 11^th February order has not yet expired and that PDVSA intends to move for reconsideration of the court’s summary judgment by the 25^th February deadline. PDVSA’s lawyers said in the letter that PDVSA will “clarify that it has been, and continues to be, subject to the same blocking sanctions that made PDVSA’s performance impossible”. Also, the Venezuelan oil company will argue that the company did not “knowingly and intentionally wave impossibility as a defence”.