Venezuela Asks Court To Stay Petition To Confirm During Government Transition

Mealey's (April 22, 2019, 10:57 AM EDT) -- WASHINGTON, D.C. — In response to a recent motion for summary judgment filed by a Netherlands entity on its petition to confirm a $491,081,701 arbitration award, the Bolivarian Republic of Venezuela on April 15 requested that a federal court in the District of Columbia stay the case for 120 days so that its newly installed government can transition to democracy (OI European Group B.V. v. Bolivarian Republic of Venezuela, No. 1:16-cv-01533, D. D.C.)....