Venezuelan Oil Co. Loses Bid To Stay $246M In Judgments

By Clark Mindock (February 7, 2022, 5:10 PM EST) -- A New York federal judge has rejected an effort by Venezuela's state-owned oil company to stay a $246 million judgment won against it by an investment firm, after determining that U.S. sanctions restrictions are "collateral" to the judgments themselves.

U.S. District Judge P. Kevin Castel said Friday that he would allow Red Tree Investments LLC to register the judgments in question in a Delaware federal court. In doing so, Judge Castel rejected arguments made by the oil company, Petróleos de Venezuela SA, that allowing the registrations to proceed would violate U.S. sanctions.

Judge Castel declined to delve deeply into the questions...

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