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U.S. Court Rules PDV Holding Liable for Venezuela Debt

12/5/2025

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Summary

Story summary

A U.S. court found PDV Holding liable for Venezuela's debt, and Elliott Investment Management won the auction to extinguish the bond for $2.1 billion.
Venezuela defaulted in 2017, but Petróleos de Venezuela, S.A. (PDVSA) continued payments on a bond until 2019, when the National Assembly declared them illegal.
Recent U.S. sanctions removals have boosted bond prices to 100.25 cents on the dollar as of December 5, 2025.

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Story summary

A U.S. court found PDV Holding liable for Venezuela's debt, and Elliott Investment Management won the auction to extinguish the bond for $2.1 billion.
Venezuela defaulted in 2017, but Petróleos de Venezuela, S.A. (PDVSA) continued payments on a bond until 2019, when the National Assembly declared them illegal.
Recent U.S. sanctions removals have boosted bond prices to 100.25 cents on the dollar as of December 5, 2025.