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Gold Reserve Provides Update on U.S. Government's Statement of Interest Supporting Venezuelan Opposition Government in Litigation Regarding Validity of 2020 PDVSA Bonds
Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the ...
About this update from Gold Reserve Ltd.
[{"type":"text","content":"Gold Reserve Provides Update on U.S. Government’s Statement of Interest Supporting Venezuelan Opposition Government in Litigation Regarding Validity of 2020 PDVSA Bonds\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwmarginl1 { margin-left: 30px }\n \n\n\n\n Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that on August 29, 2025, the U.S. Government filed a Statement of Interest in the pending New York federal court litigation regarding the validity of the 2020 PDVSA bonds.\n \n\n The key question in the litigation is whether the 2020 PDVSA bonds are invalid under Venezuelan law and, if so, the consequences of this invalidity. The 2020 PDVSA Bonds were issued by the Maduro regime in October 2016, but the 2015 National Assembly of Venezuela has issued multiple resolutions supporting the conclusion that the 2020 bonds are invalid under Venezuelan law.\n \n\n In its Statement of Interest, the U.S. Government “\n \n affirmed its recognition of, and firm support for, the 2015 National Assembly of Venezuela as the government of Venezuela\n \n ,” and stated that the “\n \n 2015 National Assembly is the only government duly elected by the Venezuelan people.\n \n ” Accordingly, the views of the 2015 National Assembly regarding Venezuelan law should be given “respectful consideration” by the New York court. In conclusion, the U.S. Government stated:\n \n\n\n For the foregoing reasons, the United States respectfully (1) advises the Court of its recognition of and support for the 2015 National Assembly as the government of Venezuela; (2) urges the Court to accord respectful consideration to the Republic’s views as required by Animal Science Products; and (3) takes no position on the legal issues in the parties’ pending cross-motions for summary judgment.\n \n\n\n A copy of the Statement of Interest can be found\n \n here\n \n .\n \n\n\n Cautionary Statement Regarding Forward-Looking statements\n \n\n\n\n This release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian provincial and territorial securities laws and state Gol...