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Katherine Polk Failla

Katherine Polk Failla

U.S. District Judge, Southern District of New York

Appears in 1 story

Stories

The sanctions switch flips: PDVSA 2020 bond trades reopen, and CITGO’s collateral lock starts to loosen

Rule Changes

Upheld PDVSA 2020 bonds’ validity under Venezuelan law on remand.

CITGO has been the prize everyone can see, but almost nobody can touch. For years, a single U.S. sanctions lever has decided whether the PDVSA 2020 bond’s “CITGO shares” collateral is a real hammer—or just a threat on paper.

Updated Dec 20, 2025