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ConocoPhillips Says Venezuela Oil Co. Is Evading $2B Award

Law360 (July 9, 2018, 6:19 PM EDT) -- Two ConocoPhillips subsidiaries looking to enforce a $2 billion arbitral award sued Venezuela's state-owned oil company in New York federal court on Friday, accusing it of trying to prevent them from laying claim to billions of dollars the state-owned company says it's owed as the result of an alleged bribery scheme.

ConocoPhillips Petrozuata BV and Phillips Petroleum Co. Venezuela Ltd. accused Petróleos de Venezuela SA, or PDVSA, of forming a New York litigation trust to file litigation related to the alleged scheme in an attempt to evade ConocoPhillips' efforts to...
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Case Information

Case Title

Phillips Petroleum Company Venezuela Limited et al v. PDVSA US Litigation Trust et al


Case Number

1:18-cv-06171

Court

New York Southern

Nature of Suit

890(Other Statutory Actions)

Date Filed

July 6, 2018

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