Yesterday afternoon documents were filed in the docket of PDVSA US Litigation Trust v Lukoil, Helsinge, Glencore, Trafigura et al. Judge Alicia M. Otazo-Reyes concluded that David Boies / PDVSA Litigation Trust had no standing, that Boies "failed to support that it holds a valid assignment from PDVSA", and that Litigation Trust's formation was invalid as per current Venezuelan law. Pretty damning stuff (see pdf below). That was to be expected, of course. Now the fun begins, as sources have informed this site that U.S. authorities are probing Boies and people associated with him in "setting up" the trust. DoJ authorities are also in possession of all material evidence gathered by the Geneva prosecutor that launched a criminal probe into the affair. So is not that Glencore, Trafigura and co are going to just walk away. This means that whatever status of civil case proceedings in Miami may be, criminal probes in Switzerland and the U.S. will have the last word.