PDVSA Moves to Replace Citgo Parent Stock Lost or Held by Maduro

Petróleos de Venezuela SA, the Venezuelan state-owned energy company, asked an American court to compel Citgo Petroleum Co.'s parent company, PDV Holding Inc., to replace a stock certificate representing shares that are either lost or held by the disputed regime of President Nicolás Maduro.

The filing in Delaware’s Chancery Court late Monday represented the latest twist in a decade-long legal saga stemming from the nationalization of a gold mine by the country’s former longtime leader, the late Hugo Chávez. Sanctions against the successor Maduro regime—and fallout from a political crisis in 2019 that led the Venezuelan National Assembly to recognize ...