Venezuela Creditors' Portal

Petroguia reported that Alejandro Grisanti, the director of the ad hoc board of directors of PDVSA, is questioning special attorney José Ignacio Hernández’s legal strategy to sue PDVSA 2020 bondholders. In Grisanti’s view, the decision to sue was not part of the strategy recommended by advisers like Lee Buchheit, or Global Advisory Group analysts like Anne Laure Kietchel, Elena Daly and Jill Dauchy.  Alejandro Grisanti, sent a letter to the president of the National Assembly, Juan Guiadó, in which he said “The PDVSA 2020 bond credits represent only 1% of the total debts that the Venezuelan State faces. Obtaining an unfavorable result in this trial will put us in a disadvantageous situation in the negotiations that we are going to have to give for the other 99% of the debts. ” . On 29 October 2019, PDVSA filed a complaint against MUFG and Glass Americas, as the trustee and collateral agent of the PDVSA 2020 bonds.