Parties In Dispute Over Venezuelan Oil Shares Debate Sale To Satisfy $1.4B Award

Mealey's (June 22, 2020, 10:17 AM EDT) -- WILMINGTON, Del. — With the stay recently lifted on a Canadian gold producer’s writ of attachment against the Bolivarian Republic of Venezuela for a $1.4 billion arbitral award, parties and nonparties on June 17 filed motions and briefs regarding the potential sale of shares that the gold producer says should be ordered promptly while Venezuela and connected entities, including CITGO Petroleum Corp., argue that Delaware state law weighs against selling the assets now due to a global slump in oil prices (Crystallex International Corp. v. Bolivarian Republic of Venezuela, No. 17-151, D. Del.)....