Commercial Creditors Form Committee to Target 30 Billion Dollars in Venezuelan Debt
London, Thursday, 27 August 2026.
Aethel Partners launched a committee on 27 August 2026 to unite non-bond commercial creditors holding over 30 billion dollars in Venezuelan claims for upcoming sovereign debt restructuring.
Strategic Organization of Commercial Creditors
On Thursday, 27 August 2026, merchant banking firm Aethel Partners LLP officially convened the Venezuela Commercial Claimholders Committee to represent holders of non-bond commercial claims against the Bolivarian Republic of Venezuela [1]. The initiative is supported by legal counsel Miller & Chevalier Chartered, aiming to organize creditors holding significant unpaid commercial debt, arbitral awards, and supply contracts [1][2]. This committee provides an organized platform for creditors to participate in the restructuring process, addressing a segment of the creditor base that previously lacked a unified voice comparable to sovereign bondholders [1][3]. Brian Jarmain, Managing Director of Aethel Partners, noted that many of these creditors provided infrastructure development materials and energy production services to Venezuela over many years [1]. The formal announcement of the committee was scheduled for today, marking a pivotal moment for commercial creditors seeking recovery [3][4].
Magnitude and Composition of Claims
The committee targets commercial claims and arbitration awards that collectively exceed 30 billion dollars, distinct from the sovereign bond debt [2][5]. Participants are expected to include investors who acquired debt, holders of arbitration awards, and direct claimants such as construction firms and oil service companies [4][5]. While specific member companies remain undisclosed, the group prioritizes incorporating major claimants to gain influence in restructuring negotiations [3][5]. William Barry, President of Miller & Chevalier Chartered, stated the goal is to resolve claims through an organized procedure that generates confidence among all involved parties [2][4]. The committee does not require dozens of claims to hold weight, focusing instead on a handful of the largest quantifications to drive negotiations [3][5].
Broader Debt Restructuring Context
This formation follows Venezuela’s announcement in May 2026 regarding the restructuring of its sovereign debt and Petróleos de Venezuela, S.A. (PDVSA) obligations [2][4]. Analysts estimate the total Venezuelan debt between 150 billion and 200 billion USD, though the Financial Times reports a figure of 240 billion USD [alert! ‘conflicting estimates from different analysts’] [3][4]. The Republic appointed Centerview Partners as its financial adviser in May 2026, while the committee advisors confirmed they had not established contact with Centerview as of 25 August 2026 [1][3]. The Venezuelan government intends to conduct a debt sustainability assessment, though no timeline for conclusion has been announced [3][4]. The committee plans to expand during September 2026 to include more companies, particularly those providing services to the oil sector [4][5].
Sources
- www.einpresswire.com
- www.bancaynegocios.com
- www.aporrea.org
- www.eleconomista.com.mx
- finanzasdigital.com