multi-billion judgments

Rusoro Mining (RMLFF) announced that a Delaware federal court issued a Sale Order authorizing the transfer of PDV Holding shares to Amber MSub LLC, generating proceeds to extinguish $5.892 billion in judgments against Venezuela and PDVSA. Rusoro’s $1.55 billion U.S. judgment will be settled with $400 million cash, $650 million convertible notes and equity warrants. The transaction remains pending appeal by the Venezuelan government and requires OFAC clearance, posing regulatory and litigation risk.