Venezuela - Sovereign Creditor Review

Venezuela

OFAC issues Venezuela GL 60A (earthquake relief) and amends FAQ 1263

OFAC issued General License 60A, authorising transactions related to earthquake relief efforts in Venezuela, and amended FAQ 1263. Per the FAQ, relief payments authorised by GL 60A need not be paid into the Foreign Government Deposit Funds (FGDF) account.

Venezuela

Venezuela: Centerview confirmed as restructuring adviser; execution milestones still ahead

Reuters reported on 16 October that Centerview Partners remains Venezuela’s financial adviser. That confirms the mandate, not exchange terms.

Venezuela

Citgo appeal: Justice Department expressed no views on abeyance, per Restructuring Desk

Venezuela Restructuring Desk reported on 14 October that the Justice Department expressed no views on Venezuela’s request to pause the Citgo appeal. No order granting the pause was verified as of this edition.

Venezuela

OFAC removes Jorge Rodríguez from the SDN List

OFAC removed Jorge Rodríguez (listed as Jorge Jesús Rodríguez Gómez) from its Specially Designated Nationals list on 14 October under the Venezuela programme. A delisting changes who U.S. persons may deal with; it does not by itself authorise transactions with the Government of Venezuela or PDVSA.

Venezuela

Citgo appeal: Gold Reserve backs a limited abeyance only with U.S. support; other creditors oppose

Gold Reserve’s 8 October release supports a limited six-month abeyance of the Citgo appeal only with concurrent U.S. support. Mealey’s reports that other creditors opposed the pause on 8 October. A motion or response is not a ruling.