Creditors of Venezuelan state oil company PDVSA are targeting funds held in the firm's accounts at Portugal's Novo Banco in an effort to collect hundreds of millions of dollars in unpaid debts.
have sought similar orders to collect on arbitration awards for nationalization of assets, according to a source with direct knowledge of the situation.
Maduro's socialist government has overseen an economic collapse in the once-prosperous OPEC nation and defaulted on more than $60 billion in bonds. It owes billions more in arbitral awards. That decision noted that "other international creditors are seeking to satisfy their credits from the amounts deposited in Novo Banco," without elaborating.
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