High Court Declines To Review Alter Ego Finding For Venezuela, Oil Company

(January 8, 2024, 1:28 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Jan. 8 denied a petition for a writ of certiorari filed by the Bolivarian Republic of Venezuela and its state-owned oil company Petróleos de Venezuela S.A. (PDVSA), which sought to challenge the Third Circuit U.S. Court of Appeals’ finding that they are alter egos despite changes to the government’s leadership ahead of a planned auction of billions of dollars of oil shares to enforce arbitral awards against Venezuela....