Judge Stays $1.2B Arbitration Case Against Venezuela Pending High Court Proceedings

(December 16, 2019, 10:13 AM EST) -- WILMINGTON, Del. — A federal judge in Delaware on Dec. 12 stayed a Canadian gold producer’s case against the Bolivarian Republic of Venezuela over a $1.2 billion international arbitration award until the conclusion of any potential proceedings in the U.S. Supreme Court following an appellate court’s affirming of a holding that a Delaware corporation is the alter ego of the republic (Crystallex International Corp. v. PDV Holding Inc., No. 15-cv-1082; Conocophillips Petrozuata B.V., et al. v. Petróleos De Venezuela S.A., et al., No. 16-cv-904; Crystallex International Corp. v. PDV Holding Inc., No. 16-cv-1007; Conocophillips Petrozuata B.V., et al. v. Petróleos De Venezuela S.A., et al., No. 17-cv-28; Crystallex International Corp. v. Bolivarian Republic of Venezuela, No. 17-mc-151; Saint Gobain Performance Plastics Europe v. Bolivarian Republic of Venezuela, et al., No. 18-cv-1963; Oi European Group B.V. v. Bolivarian Republic of Venezuela, et al., No. 19-cv-290; Oi European Group B.V. v. Bolivarian Republic of Venezuela, et al., No. 19-mc-290. D. Del., 2019 U.S. Dist. LEXIS 214167)....

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