CLASSES: ALL HOLDERS OF BENEFICIAL INTERESTS IN CERTAIN OBLIGATIONS
ISSUED BY THE BOLIVARIAN REPUBLIC OF VENEZUELA:
(A) NOTES DUE AUGUST 15, 2018, COUPON RATE 13.625%, ISIN USP9395PAA95, CUSIP NO. P9395PAA9 (THE “AA95 NOTES”), WHO HELD THOSE INTERESTS ON AUGUST 14, 2024, AND CONTINUE TO HOLD THEREAFTER (THE “AA95 CLASS”), AND/OR
(B) BONDS DUE AUGUST 15, 2018, COUPON RATE 13.625%, ISIN USP922646AT10, CUSIP NO. 922646AT1 (THE “AT10 BONDS”), WHO HELD THOSE INTERESTS ON AUGUST 14, 2024, AND CONTINUE TO HOLD THEREAFTER (THE “AT10 CLASS”).
This lawsuit was filed in the United States District Court for the Southern District of New York by Massimo Mazzaccone, an individual who owns beneficial interests in the two Obligations described above. Massimo Mazzaccone has been appointed by the Court as the Class Representative. This lawsuit alleges that the Bolivarian Republic of Venezuela ("Republic" or "Venezuela") failed to pay interest on each of the Obligations due on February 15, 2018, and all semi-annual interest payment dates due thereafter, and failed to repay principal on each of the Obligations due on their maturity date, which was August 15, 2018. The lawsuit further alleges that, following those failures to pay, the Republic has not made any payment of principal or interest to any holders of beneficial interests in either of the Obligations.
The Republic has asserted affirmative defenses as to the claims of Mr. Mazzaccone and other class members, and has also appealed the Court’s decision certifying the Classes and appointing Mr. Mazzaccone as class representative. The Court has made no ruling on the merits of the claims in the lawsuit.
Please be aware that this case is ongoing and there is no assurance that a judgment in favor of one or both of the Classes will be granted.
RIGHTS AND OPTIONS:
A. Your Option to Remain in the Class Action
If you wish to remain in the class action, you do not need to do anything. By remaining in the class action, you will be bound by the results in the case, including any remedies or damages that may become available to class members and any adverse results such as dismissal or limitation of class members’ claims. If you remain in the class, you are not liable to pay any legal or other fees, but if the class action results in recoveries or benefits for class members, the Court may allow deduction of legal fees and expenses for class counsel out of the recovered amounts.
By remaining in the class action and not requesting to be excluded, you give up any independent legal recourse and will be bound by the terms of this case.
B. Your Option to Exclude Yourself from the Class Action
If you wish to exclude yourself from the class action, you will not be bound by the results in the class action (whether good or bad), The procedure for excluding yourself is as follows:
If you submit a request for exclusion, you may use the form available Notice Page of this website. If you do not wish to use this form, you may submit a letter by mail or email to RG/2 Claims Administration LLC at P.O. Box 59479, Philadelphia, PA 19102-9479 or VenezClassActions@rg2claims.com , which must: (i) set forth the name and address of the person or entity requesting exclusion, (ii) state that such person or entity requests exclusion from the Class in this action, (iii) describe the bondholdings and amounts for which exclusion is requested, and (iv) be signed and dated by or on behalf of such person or entity.
Requests for exclusion must be submitted by July 13, 2026.
Do not request exclusion if you wish to participate in this lawsuit as a member of the AA95 Class and/or AT10 Class. If you exclude yourself from the Class(es), you will not be affected by any decisions in this action, and you will not be entitled to share in any recovery in this action. If you intend to bring your own lawsuit against the Bolivarian Republic of Venezuela, you should exclude yourself from the Class(es).
C. For More Information
The above information is just a summary about this lawsuit. For more information about this lawsuit, please review the full Notice of Pendency of Class Action, available on the Notice Page of this website or review various Court Documents on the Court Documents Page of this website.
CLASS COUNSEL
The Classes in this lawsuit are being represented by Plaintiffs’ Counsel and no legal fees are required from members of the Classes. Plaintiff’s Counsel are Anthony J. Costantini, Arti Fotedar, Stephanie Lamerce, and Jillian M. Dreusike, Duane Morris LLP, 22 Vanderbilt, 335 Madison Avenue, 23rd Floor, New York, New York 10017. Michael C. Spencer and Patricia Rosita Vago are supporting counsel.
If you wish to retain your own legal counsel, you may do so, however, you will need to pay for separate counsel on your own.