Venezuela Warns Against Rushing Its Crystallex Award Appeal

Law360 (August 30, 2019, 5:03 PM EDT) -- Venezuela is fighting Crystallex's bid to rush the appeals process of a $1.2 billion arbitration award issued against the country, telling the Third Circuit that a hasty decision would cause "catastrophic, irreparable harm."

The crisis-plagued South American country asked the appellate court on Thursday not to rethink granting it more time to seek a rehearing of an order allowing Canadian miner Crystallex International Corp. to seize shares in Citgo Petroleum Corp.'s parent company — a subsidiary of Venezuela's state-owned oil company, Petróleos de Venezuela SA, or PDVSA.

In July, the Third Circuit affirmed a ruling allowing Crystallex to seize shares in PDVSA,...

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!