U.S. High Court Won’t Hear Venezuela’s Challenge To Attachment Of U.S. Assets

Mealey's (May 18, 2020, 1:15 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on May 18 denied a petition for a writ of certiorari filed by the Bolivarian Republic of Venezuela and its state-owned oil company Petróleos de Venezuela S.A. (PDVSA) seeking review of a Third Circuit U.S. Court of Appeals ruling that held PDVSA is Venezuela’s alter ego and that a Canadian gold producer could seek attachment of PDVSA’s shares in the Delaware holding company that owns CITGO Petroleum Corp. to enforce a $1.4 billion arbitral award (Bolivarian Republic of Venezuela and Petróleos de Venezuela, S.A., v. Crystallex International Corporation, No. 19-1049, U.S. Sup.)....