HOUSTON, June 18 (Reuters) - Venezuela-linked creditor
G&A Strategic Investments has filed a lawsuit in Texas state
court seeking to recoup $1.5 billion from promissory notes
defaulted by Venezuela's state oil company PDVSA, according to a
court document seen on Tuesday.
The lawsuit was filed in Harris County District Court
against PDV Holding, one of the companies between
Caracas-headquartered PDVSA and its U.S. refining
unit, Citgo Petroleum.
Shares in PDV Holding are being auctioned by a federal court
in Delaware to pay up to $21.3 billion in claims from past
expropriations and defaults in Venezuela. This new lawsuit could
complicate an auction that is expected to announce final results
next month after seven years of litigation.
Attorneys for G&A did not immediately reply to a request for
comment.
The promissory notes ended up in G&A's hands after being
sold in 2018 by U.S. oil service firm Schlumberger ( SLB ), the original
receiver of the notes from PDVSA. The Venezuelan oil firm ceased
all principal and interest payments for the notes in 2019,
according to the filing.
G&A previously had sought to have its claims accepted by the
Delaware court, and in December it also brought a claim against
PDVSA in the U.S. district court for the Southern District of
New York, seeking to enforce the notes' payment agreement.