Venezuelan Opposition Picks Citgo's Board, Chancery Rules

Law360 (August 21, 2019, 7:03 PM EDT) -- A Delaware vice chancellor on Wednesday signed an order ending a dispute over who sits on Citgo entity boards, with Venezuelan opposition leader Juan Guaidó's backed appointees declared as rightfully appointed members.

Vice Chancellor Kathaleen S. McCormick signed the order just weeks after ruling that Guaidó is the U.S.-recognized interim president of Venezuela and, thus, his appointees to the state-owned entity that decides who sits on the Citgo entity boards are valid.

"Today's final order and judgment is a resounding victory for Guaido-appointed boards of directors of Citgo's entities. We are grateful the court rightfully recognizes the boards as the legitimate...

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