PETRÓLEOS DE VENEZUELA S.A. v. MUFG UNION BANK

Docket Nos. 20-3858, 20-4127 August Term, 2021.

106 F.4th 263 (2024)

PETRÓLEOS DE VENEZUELA S.A., PDV Holding, Inc., PDVSA Petróleo S.A., Plaintiffs-Counter-Defendants-Appellants, v. MUFG UNION BANK, N.A., GLAS Americas LLC, Defendants-Counter-Claimants-Appellees.

United States Court of Appeals, Second Circuit.

Question Certified: October 13, 2022.

Certified Question Answered: February 20, 2024.

Decided: July 3, 2024.


Attorney(s) appearing for the Case

Michael J. Gottlieb, Kristin E. Bender, Willkie Farr & Gallagher LLP, Washington, D.C.; Nicholas Reddick, Willkie Farr & Gallagher LLP, San Francisco, CA; Jeffrey B. Korn, Willkie Farr & Gallagher LLP, New York, NY; Kurt W. Hansson & James Ferguson, Paul Hastings LLP, New York, NY; Igor V. Timofeyev, Paul Hastings LLP, Washington, D.C., for Plaintiffs-Counter-Defendants-Appellants.

Jonathan H. Hurwitz, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Roberto J. Gonzalez, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Washington, D.C.; Matthew S. Salerno, Latham & Watkins LLP, New York, NY, for Defendants-Counter-Claimants-Appellees.

Donald B. Verrilli, Jr., Elaine J. Goldenberg Munger, Tolles & Olson LLP, Washington, D.C.; George M. Garvey, Munger, Tolles & Olson LLP, Los Angeles, CA, for Amicus Curiae the Bolivarian Republic of Venezuela.

Douglass Mitchell, Previn Warren, Jenner & Block LLP, Washington, D.C., for Amici Curiae David Landau, Nelson Camilo Sanchez Leon, Mila Versteeg, and Diego Zambrano.

Before: Leval, Lohier, and Robinson, Circuit Judges.


The United States District Court for the Southern District of New York (Failla, J.) declared valid and enforceable against Plaintiffs-Appellants Petróleos de Venezuela S.A., PDV Holding, Inc., and PDVSA Petróleo, S.A. (collectively "PDV Entities") instruments governing a debt issue— notes, indenture, and a pledge agreement...

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