Crystallex, Venezuela $1.2B Award Fight Moves Ahead

Law360 (May 22, 2020, 6:37 PM EDT) -- A Delaware federal judge on Friday gave Citgo's parent company two weeks to respond to an order allowing Crystallex to seize its shares to enforce a $1.2 billion arbitral award against Venezuela, days after the U.S. Supreme Court declined to take up the country's challenge against the order.

In addition, U.S. District Judge Leonard P. Stark lifted a stay that had been imposed on the proceeding while the justices weighed Venezuela's certiorari petition and ordered the parties to file briefs on how a sale of the shares is to proceed. The judge also ordered briefing on Venezuela's possible attempt to have...

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