Venezuelan Entities Urge 3rd Circuit To Stay Preparations For Sale Pending Appeal

Mealey's (May 21, 2021, 1:52 PM EDT) -- PHILADELPHIA — The Bolivarian Republic of Venezuela, its state-owned oil company Petróleos de Venezuela S.A. (PDVSA) and other affiliated entities in a May 19 joint motion urge the Third Circuit U.S. Court of Appeals to stay ongoing preparations in a Delaware federal court for a planned sale of PDVSA’s oil shares to satisfy an arbitral award worth more than $1.4 billion until their appeal challenging the court’s writ of attachment is resolved....