By Maya Lester KC & Michael O’Kane

UK High Court says PDVSA can’t rely on US sanctions to suspend loan repayments

The English High Court has granted summary judgment to a Puerto Rican bank (BSJI) against Venezuela’s state-run oil company (PDVSA) to recover $48m including interest, and $38m pursuant to 2 credit agreements made in 2016 and 2017. The judgment is: Banco San Juan Internacional Inc v Petroleos De Venezuela SA [2020] EHWC 2937. The Court (in summary): Rejected PDVSA’s argument …

VenezuelaVenezuela United KingdomUnited Kingdom

About Maya Lester KC

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Maya Lester KC is a senior barrister (King’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...

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