Shipbuilder Targets Venezuela Citgo Assets For $138M Award

Law360 (June 24, 2020, 7:01 PM EDT) -- U.S. shipbuilder Huntington Ingalls has urged a Mississippi federal judge to sign an order allowing it to seize Venezuelan assets in Delaware to enforce a nearly $138 million arbitral award, saying the "practical reality" is that judgments against the country can only be enforced there.

Earlier this month, U.S. District Judge Halil Suleyman Ozerden entered a final judgment against the Venezuela Ministry of Defense reflecting the full amount of the award, including interest, costs and fees, in the long-running arbitration dispute stemming from a contract to refurbish two warships. 

The shipbuilder is now seeking the court's permission to register the final judgment in...

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