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...

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