Venezuelan Ministry Says Crystallex Cannot Obtain Trust Assets To Satisfy Award

Mealey's (October 18, 2017, 1:23 PM EDT) -- NEW YORK — The Ministry of Defense of the Bolivarian Republic of Venezuela on Oct. 16 moved a New York federal court to dismiss a petition filed by a Canadian company that seeks to obtain payment from a trust held by a bank to satisfy a $1.2 billion arbitral award, arguing that the requested assets are immune from execution under the Foreign Sovereign Immunities Act (FSIA) (Crystallex International Corp. v. The Bank of New York Mellon, No. 1:17-cv-07024, S.D. N.Y.)....

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