Crystallex Given OK To Proceed With Citgo Sale

Law360 (January 14, 2021, 5:46 PM EST) -- A Delaware judge has given Crystallex the green light to forge ahead with a sale of Citgo's parent company to enforce its $1.2 billion award against Venezuela, ruling Thursday that every day the Canadian mining company goes unpaid "is arguably something of an affront to the United States judicial system."

U.S. District Judge Leonard P. Stark denied Venezuela's motion to quash the attachment order for Citgo shares that he issued to Crystallex more than two years ago in light of the "extraordinary" circumstances relating to an ongoing power struggle between Venezuelan President Nicolás Maduro and opposition leader Juan Guaidó, saying that it...

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