Venezuela bondholders file claim to New York court amid tolling agreement

Holders of defaulted debt issued by Venezuela and its state oil company have filed two requests in New York to validate an agreement that would pause the statute of limitations on claims. The debt, issued under New York law, amounts to around $60 billion. Bondholders have backed an offer by the country's opposition-led National Assembly to push back the legal deadline, and the filings aim to ensure the enforceability of this agreement until the end of 2028. Without this cooperative solution, bondholders would have had to initiate expensive direct litigation against Venezuela and PDVSA.