Petrosaudi Nixes English PDVSA Fraud Ruling, Wins $130M
By Jack Newsham ( January 26, 2017, 5:31 PM EST) -- An affiliate of oil field services company Petrosaudi International Ltd. won permission from an English appeals court on Wednesday to draw on a $130 million letter of credit amid an ongoing arbitration with Venezuela's state-owned oil company, and won another order to prevent the company from trying to stop the action in another forum....
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