Sherm,

No, CP cannot and will not jump the collection line in front of KRY.

As the article from Ifeelyellow posted a couple of days ago indicates, CP must first make the case before a U.S. court that CITGO is Veneuela's alter-ego. They cannot piggy-back on KRY's alter-ego judgement because it must be proven as of the date the suit for payment is filed, which CP can only do now after the DC court decision. Besides that, proving CITGO is Venezuela's alter-ego is now a bridge too far, since the Guido  government has implemented measures to prevent the alter-ego findings that gave KRY the opportinity to prove it.

What Guido is implying with the statement that Venezuela could pursue a settlement with CP is that with CITGO earning $1.3 billion in Q2, it is difficult for his government to argue there is no money to pay the judgments against Venezuela. As the 100% owner of CITGO, Venezuela is entitled to CITGO's earnings via dividend payments, and judgement creditors with or without an alter-ego judgment can pursue that money as fair game.  However, judgments, like liens, must be paid in the order they were issued / registered. Hence, KRY is first in line.

Guido has now realized that sauce good for the geese is good for the gander.  CITGO can use the earnings to pay down debt, capital expenditures, etc., but that does not obviate the fact that it is making money. And not too long ago, CITGO borrowed money to issue a special dividend to Venezuela precisely to disincentivize creditors from going after its treasury chest.