Venezuelan Oil Co. Decries Bid For Stock In $1.2B Award Row

Law360, New York (August 17, 2017, 4:08 PM EDT) -- Venezuela's state-run oil company has slammed Canadian mining company Crystallex International Co.'s recent bid in Delaware federal court to seize shares of a U.S. corporation owned by it, a request Crystallex lodged in an effort to collect a $1.2 billion arbitration award against the country.

Crystallex told the court on Monday that PDV Holding Inc., a Delaware corporation, has shares that should be seized to satisfy a judgment against Venezuela since the company is owned by oil and gas giant Petróleos de Venezuela S.A., an "alter ego" controlled by the government. PDVSA hit back a day later, issuing a statement that...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!