Mining company Crystallex International Corp said on Thursday Venezuela failed to honor a settlement and urged a federal judge to allow it to seize control of U.S. refiner Citgo Petroleum Corp., which is owned by the country’s state oil company, Reuters reported. Canada-based Crystallex won a 2016 international arbitration award of $1.2 billion against Venezuela, which has refused to pay. The company had been trying to collect by seizing shares of Citgo’s U.S. parent company, which is owned by Venezuelan state oil company PDVSA.

Brazilian telecoms company Oi SA is up for sale after it emerged from Latin America’s largest-ever bankruptcy protection process, Chief Executive Eurico Teles said on Wednesday. Teles said the company was ready to receive international investors and had received an offer of support from China Development Bank, Reuters reported. Many international investors, such as China Telecom Corp Ltd and China Mobile Ltd, offered a capital injection as the company struggled for a year and a half to restructure some 65.4 billion reais ($20 billion) in debt.

Venezuela investors are worried they’re getting ghosted. That’s the concern among a growing number of sovereign bondholders six weeks after the government’s mysterious announcement that it would seek to restructure its debt while also continuing to pay what’s owed in the meantime, Bloomberg News reported. It’s now been a month since a creditor meeting in Caracas produced no specific proposals, and as overdue bond payments pile up without any word from officials, the relationship looks to be on rocky ground.

Oi SA creditors argued late into Tuesday night over a plan to restructure $20 billion in debt owed by the Brazilian telecoms company in Latin America’s largest-ever bankruptcy case as major creditors stayed silent about whether they would support it, Reuters reported. With creditors requesting one recess after another at a public meeting in Rio de Janeiro, a court-appointed administrator said the process would reconvene at 11:30 p.m. local time (0130 GMT). The management of Brazil’s No.

It’s only fitting that Oi SA, after filing for the biggest bankruptcy protection in Brazil’s history, is bringing its bitter 18-month restructuring battle to a crescendo with an epic creditors’ meeting at a rock concert venue, Bloomberg News reported. The venue for Tuesday’s gathering of about 4,000 people is RioCentro, the Rio de Janeiro events and convention center near where Rock in Rio was held last September.

One of China's biggest state-run conglomerates has sued a Venezuelan counterpart in a U.S. court in a dispute over unpaid bills, a sign of Beijing's growing impatience with its socialist South American ally as it slides into bankruptcy, the International New York Times reported on an Associated Press story. In the lawsuit filed Nov. 27 in a Houston federal court, a U.S. subsidiary of Sinopec sought more than $23 million in damages from Venezuela's state-run oil company, PDVSA.

One of China’s biggest state-owned oil companies is suing its Venezuelan counterpart in a US court, in a sign that Beijing’s patience over unpaid debts is running out as the Caribbean nation falls deeper into economic and social chaos, the Financial Times reported. A US subsidiary of Sinopec is suing PDVSA, the Venezuelan state oil company, for $23.7m plus punitive damages over a May 2012 contract to supply steel rebar for $43.5m, half of which it says remains unpaid, according to court documents seen by the Financial Times.

Brazil’s telecommunications regulator Anatel said it rejected a petition by Societe Mondiale, a shareholder in Oi SA, to stop Aurelius Capital Management inking a debt restructuring accord with the struggling Brazilian telecoms company, Reuters reported. The regulator said in a statement on Tuesday, however, that it would open an administrative inquiry to examine claims levied by Societe Mondiale, an investment vehicle of distressed debt tycoon Nelson Tanure, regarding Aurelius’ holdings in the nation’s telecoms sector.

Societe Mondiale, a shareholder in Brazilian telecoms company Oi SA affiliated with Brazilian investor Nelson Tanure, filed a complaint with the nation’s telecoms regulator on Friday seeking to limit the actions of a key bondholder, Reuters reported. In the complaint, seen by Reuters, Societe Mondiale asks the competition unit of telecoms regulator Anatel to prohibit the company from signing any contract or engaging in negotiations that “may give legal substance to a deal implying transfer of control to any fund” related to Aurelius Capital Management LP.

A Brazilian bankruptcy judge overseeing Oi SA’s in-court debt restructuring has put newly appointed Chief Executive Officer Eurico Teles in charge of negotiating with creditors, the telecom operator said in a filing. The decision, disclosed late on Wednesday night, gives Teles powers to draft a debt restructuring plan and present it to the judge without board approval, a move that severely weakens the power of influential shareholder Nelson Tanure, Reuters reported. Preferred shares of Oi were down 1.3 percent at 3.88 reais ($1.19) in early trading.