Houston - December 29, 2020 - PDV Holding is pleased that the Southern District of New York has entered a stay preserving the status quo while the parties continue to litigate the validity of the 2020 PDVSA Notes and Pledge Agreement on appeal. The court’s order prohibits efforts to enforce, or exercise any remedies under, the Pledge Agreement until the Court of Appeals has disposed of the appeal. PDVH looks forward to presenting its legal arguments to the Second Circuit in the coming year.