Yesterday afternoon, documents were filed in the case of PDVSA US Litigation Trust v Lukoil, Helsinge, Glencore, Trafigura et al. Judge Alicia M. Otazo-Reyes determined that David Boies / PDVSA Litigation Trust lacked active standing, stating that Boies “failed to prove he has a valid assignment from PDVSA” and that the formation of the Litigation Trust was not valid under current Venezuelan law. Quite condemning remarks. This outcome was expected, of course. Now the excitement begins, as sources have informed this site that U.S. authorities are investigating Boies and individuals associated with him to “establish” the trust. The Justice Department also possesses all material evidence gathered by the Geneva prosecutor who initiated a criminal investigation into the matter. Therefore, it’s clear that Glencore, Trafigura, and others aren’t just going to walk away. This means that regardless of the status of civil case proceedings in Miami, the criminal investigations in Switzerland and the U.S. will carry the final word.