Original News Release
Gold Reserve notes ruling in favour of 2020 bondholders
Mr. Paul Rivett reports
GOLD RESERVE PROVIDES UPDATE ON U.S. COURT DECISION IN 2020 PDVSA BONDHOLDERS ACTION
Gold Reserve Ltd. has noted, on Sept. 18, 2025, the U.S. District Court for the Southern District of New York issued a decision granting partial summary judgment in favour of 2020 bondholders and denying plaintiffs PDVSA and PDVH's motion for summary judgment that the 2020 notes, as well as the indenture, pledge agreement and guarantee, were not validly issued under Venezuelan law. The SDNY reserved decision on the 2020 bondholders' counterclaims and the effect of the validity of the 2020 notes and governing documents under New York law.
Gold Reserve is reviewing the potential impact of this ruling on the company and will provide further updates as they become available.
We seek Safe Harbor.
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