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Venezuela’s state-owned oil company has rebutted arguments that shares in U. S. oil giant Citgo’s parent company securing some $1. 9 billion in defaulted bonds may not be worth enough to repay bondholders, telling the Second Circuit on Monday that such estimates are based on outdated figures. PDVSA, which is appealing an order from last fall enforcing the bonds, noted that the circuit court has already rejected the bondholders’ efforts to hurry along the proceeding based on such arguments and that they’re just recycling these old arguments now. Full Text -> Law360
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