3rd Circuit Denies Venezuelan Entities’ Bid To Stay Preparations For Shares Sale

Mealey's (June 22, 2021, 7:02 AM EDT) -- PHILADELPHIA — The Third Circuit U.S. Court of Appeals on June 2 in a one-page order denied a motion by the Bolivarian Republic of Venezuela, its state-owned oil company Petróleos de Venezuela S.A. (PDVSA) and other affiliated entities 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 of the lower court’s rulings is resolved....