Judge Certifies Venezuela Parties’ Appeal Of Oil Sale To Pay $1.4B Award

Mealey's (May 5, 2022, 12:15 PM EDT) -- WILMINGTON, Del. — A Delaware federal judge on May 4 certified for interlocutory review his decision allowing a special master to plan an auction of oil assets belonging to the Bolivarian Republic of Venezuela and three affiliated entities to pay off a $1.4 billion arbitral award in favor of Crystallex International Corp. despite the U.S. Office of Foreign Assets Control (OFAC) refusing to issue a license required before any sale due to U.S. sanctions....