Judge Denies Motion To Stay Sale Of Venezuelan Oil Assets For $1.4B Arbitral Award

Mealey's (March 17, 2021, 12:24 PM EDT) -- WILMINGTON, Del. — A Delaware federal judge on March 16 orally denied a motion by the Bolivarian Republic of Venezuela, its state-owned oil company Petróleos de Venezuela S.A. (PDVSA) and their U.S. subsidiaries to stay a sale of Venezuelan oil shares to satisfy a $1.4 billion judgment in favor of a Canadian gold producer while the Venezuelan entities’ appeal to the Third Circuit U.S. Court of Appeals is pending....