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Northrop Grumman Ship Systems, Inc. v. The Ministry of Defense of the Republic of Venezuela

  1. May 01, 2023

    Venezuela Debts Suit To Move Ahead Despite Appeals

    The federal judge overseeing efforts by Venezuela's creditors to obtain a stake in Citgo is letting that litigation move forward amid a challenge from Venezuela's state-owned petroleum company, a crucial decision with the Biden administration close to approving a Citgo auction.

  2. March 24, 2023

    Venezuela Creditors Get Green Light To Pursue Citgo

    A Delaware judge on Thursday allowed creditors of Venezuela that are owed a collective $1.6 billion to target shares in Citgo's parent company that are held by the country's national oil company, ruling that ongoing political turmoil hasn't altered the cozy relationship between the oil company and the government.

  3. September 30, 2022

    Venezuela Creditors Get Green Light To Pursue Seizure Orders

    A judge in Delaware unpaused efforts Thursday by creditors of Venezuela that are owed hundreds of millions of dollars to try to prove that they can seize shares in Citgo's parent company to satisfy the debt, after the Third Circuit declined this past summer to review several underlying issues.

  4. August 02, 2022

    Shipbuilder Wants Seizure Order For PDVSA's Citgo Shares

    Shipbuilding corporation Huntington Ingalls Industries asked a Delaware federal judge to approve its writ of attachment seeking Petróleos de Venezuela SA's Citgo shares as compensation for the company's $138 million arbitration award for a failed ship refurbishment contract.

  5. May 04, 2022

    Venezuela Gets OK For Quick Appeal In Citgo Sale Fight

    A federal judge in Delaware on Wednesday allowed Venezuela to immediately appeal his decision not to wait for an official signoff from the Biden administration to continue organizing sales procedures for shares in Citgo's parent company, saying the country has raised "novel issues" that must be resolved.

  6. April 29, 2022

    Venezuela Says Stolen Art Suit Warrants Nixing Seizure Order

    Venezuela argued on Thursday that a recent decision from the U.S. Supreme Court in a case over Nazi-looted art is the final blow for a seizure order over shares in Citgo's parent company, which was issued in an enforcement case over a $1.2 billion arbitral award.

  7. March 02, 2022

    Judge Allows Citgo Sales Process To Go Forward

    A Delaware judge ruled Wednesday that he will not wait for an official signoff from the Biden administration to continue organizing the sales procedures for shares in Citgo's parent company as a defunct Canadian miner looks to enforce a $1.2 billion arbitral award against Venezuela.

  8. May 26, 2021

    Venezuela Resists Creditor Attempt To Seize Citgo

    Venezuela and its state-owned oil company Petróleos de Venezuela SA say they aren't alter egos of each other under a new president, but two of the country's creditors urged a Delaware federal court to hand them shares of PDVSA subsidiary Citgo to fulfill arbitral awards.

  9. May 11, 2021

    Judge Weighs Effect Of Sanctions In Del. Venezuela Cases

    A Delaware federal judge weighing whether to grant seizure orders for Citgo's parent company to creditors owed hundreds of millions of dollars by Venezuela indicated Tuesday that he is considering whether U.S. sanctions on Caracas preclude him from issuing such an order.

  10. February 22, 2021

    Shipbuilder Eyes Citgo Shares To Pay $138M Venezuela Award

    U.S. military shipbuilder Huntington Ingalls asked the Fifth Circuit to let it seize Citgo parent company shares, amid Venezuela's challenge of a confirmed $138 million arbitral award over a soured missile-armed ship refurbishment contract from 1997.