Important Class Action Notice for Holders of Venezuela Sovereign Notes and Bonds

Important Class Action Notice for Venezuela Sovereign Bond Holders

A significant legal development has emerged regarding the Venezuela sovereign bonds, specifically the "AA95" and "AT10" notes, both due on August 15, 2018. As per the official release from RG/2 Claims Administration LLC — acting as the Notice Administrator — this encompasses important information for all beneficial owners of these securities, who may be affected by the ongoing class action lawsuit.

Overview of the Lawsuit

This class action, Massimo Mazzaccone v. The Bolivarian Republic of Venezuela (Civil Case No. 124-cv-06168-DLC), has been filed in the United States District Court for the Southern District of New York. The plaintiff is claiming recovery of unpaid principal and interest on both the AA95 Notes (ISIN No. USP9395PAA95, CUSIP No. P9395PAA9) and AT10 Bonds (ISIN No. USP922646AT10, CUSIP No. 922646AT1).

Importantly, if you held interests in these notes and bonds as of August 14, 2024, you are included as a member of the certified class for this case. Thus, your rights could be influenced by the outcome of this lawsuit.

What Should You Do?

If you choose to remain part of the class, there's no immediate action needed aside from retaining your interests in the AA95 Notes or AT10 Bonds. By doing so, you will be entitled to any benefits that may arise from this legal proceeding and will be subject to the final judgments, whether they're favorable or not.

Conversely, if you wish to exit the class action (opt out), you must express your intent to do so by submitting a request on the indicated website, by email, or by mail before July 13, 2026. For those looking for more information on opting out and the class action proceedings, detailed instructions can be found at VenezClassActions.com.

Please refrain from contacting the court or its clerks directly for further details.

Legal Context

This lawsuit has been described as a crucial avenue for the recovery of unpaid amounts, yet it’s essential to note that Venezuela has asserted affirmative defenses against these claims and is appealing the court’s decision regarding class certification. As such, no monetary remedy has been affirmed, and there’s uncertainty regarding the potential recovery.

This ongoing situation highlights the complex interplay between debt recovery efforts and sovereign immunity, particularly in cases involving international bonds, as purchasers navigate the potentially long and arduous journey of litigation.

Conclusion

In closing, if you are a holder of the Venezuela Sovereign Notes or Bonds mentioned above, it’s crucial to stay informed about your rights in this class action. Engage with the resources provided by RG/2 Claims Administration LLC to ensure that you are in compliance and understanding the implications of this legal action on your investments.

For additional inquiries, you can reach the claims administrator at:
RG/2 Claims Administration LLC
P.O. Box 59479, Philadelphia, PA 19102-9479
Telephone: 866-742-4955
Email: [email protected]