“Today’s bad news from Gold Reserve turns out to be that they have only been able to collect $128.5 million and have not been getting paid — like most Venezuela bondholders — since President Nicolas Maduro announced the “renegotiation and restructuring” of the country’s debt in early November,” reports Russ Dallen of Caracas Capital in a report to investors early Friday morning. “Since Major General Manuel Quevedo took over PDVSA and the Ministry of Oil and Mining in late November, Gold Reserve reports that they have received nothing.”

Gold Reserve reports that Venezuela is now behind on $147.5 million of settlement payments.

“This also jives with the payments to bondholders — or the lack thereof — which also stopped around that time,” reports Dallen.