Venezuela Can't Get $400M Koch Industries Award Suit Axed

Law360 (February 23, 2021, 7:24 PM EST) -- Venezuela was unable on Monday to get a redo as it tries to escape litigation filed by two Swiss Koch Industries affiliates to enforce a more than $400 million arbitral award, instead earning a rebuke that its objections to a magistrate judge did "not comport with the reality" of the case.

U.S. Magistrate Judge Zia M. Faruqui denied the country's appeal of his December order refusing to dismiss the litigation for insufficient service, ruling that Venezuela's "expectation" that a district court judge would decide its motion didn't reflect the procedural history of the case.

The Koch Industries companies won the award after a...

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