Venezuelan Entities Seek Stay Of Oil Share Sale Pending Appeal To 3rd Circuit

Mealey's (February 16, 2021, 1:29 PM EST) -- WILMINGTON, Del. — The Bolivarian Republic of Venezuela, CITGO Petroleum Corp., Venezuela’s state-owned oil company and its U.S. subsidiary on Feb. 12 filed notice in a Delaware federal court that they will appeal the court’s recent ruling approving the sale of oil shares to satisfy a $1.4 billion arbitral award against Venezuela to the Third Circuit U.S. Court of Appeals and also moved for a stay pending their appeal....