Ex-Skadden Partner To Steer Citgo Sale For Crystallex Award

By Dave Simpson (April 14, 2021, 7:50 PM EDT) -- A Delaware federal judge on Tuesday appointed a retired Skadden Arps Slate Meagher & Flom LLP partner as special master to Crystallex's sale of Citgo's parent company, which is indirectly held by Venezuela, to enforce its $1.2 billion award against the country.

Robert Pincus, who previously served as a custodian of the TransPerfect Global Inc. sale, will be tasked with assisting the sale of Petróleos de Venezuela SA's shares of PDV Holdings Inc. to satisfy Crystallex's 2016 judgment against the country, U.S. District Judge Leonard P. Stark said. The court found previously that PDVSA is an alter ego of Venezuela, and PDV Holdings...

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