Crystallex, Venezuela Butt Heads Over Special Master Order

Law360 (May 10, 2021, 10:12 PM EDT) -- Crystallex is objecting to a position adopted by Venezuela and its state-owned oil company, Petroleos de Venezuela S.A, that the parties involved in the sale of Citgo's parent company — and perhaps even the special master overseeing it — will need a license to proceed with the transaction due to U.S. sanctions on Caracas.

The Canadian company argued in a letter filed with U.S. District Judge Leonard P. Stark in Delaware on Monday that Venezuela is just trying to delay the sale of PDVSA's shares in PDV Holding Inc., the indirect parent of U.S. petroleum company Citgo, as the parties in the sale move ahead from retired...

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