HOUSTON, June 18 (Reuters) - Venezuela-linked creditor G&A Strategic Investments has filed a lawsuit in Texas state court seeking to recoup $1.5 billion from promissory notes defaulted by Venezuela's state oil company PDVSA, according to a court document seen on Tuesday.

The lawsuit was filed in Harris County District Court against PDV Holding, one of the companies between Caracas-headquartered PDVSA (PDVSA.UL) and its U.S. refining unit, Citgo Petroleum (PDVSAC.UL).

Shares in PDV Holding are being auctioned by a federal court in Delaware to pay up to $21.3 billion in claims from past expropriations and defaults in Venezuela. This new lawsuit could complicate an auction that is expected to announce final results next month after seven years of litigation.

Attorneys for G&A did not immediately reply to a request for comment.

The promissory notes ended up in G&A's hands after being sold in 2018 by U.S. oil service firm Schlumberger, the original receiver of the notes from PDVSA. The Venezuelan oil firm ceased all principal and interest payments for the notes in 2019, according to the filing.

G&A previously had sought to have its claims accepted by the Delaware court, and in December it also brought a claim against PDVSA in the U.S. district court for the Southern District of New York, seeking to enforce the notes' payment agreement.

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https://www.reuters.com/business/energy/ga-strategic-investments-files-lawsuit-texas-against-citgo-petroleum-parent-2024-06-18/