U.S. District Judge Darrin P. Gayles in the Southern District of Florida has granted sanctions against a litigation trust attached to Venezuela’s state-owned oil company, Petróleos de Venezuela — or PDVSA — following a failed lawsuit led by high-powered Boies Schiller Flexner attorneys.

As the court ruled PDVSA U.S. Litigation Trust lacked standing to go after more than 40 international energy trading firms, it’s now on the hook for attorney fees and costs.

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