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...

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!