Legal News

US Court rejects Crystallex’s attempt to enforce ICSID award against subsidiary, not Venezuela (Crystallex International Corp v Petroleos de Venezuela SA)

US Court rejects Crystallex’s attempt to enforce ICSID award against subsidiary, not Venezuela (Crystallex International Corp v Petroleos de Venezuela SA)
Published on: 05 January 2018
Published by: Law360
  • US Court rejects Crystallex’s attempt to enforce ICSID award against subsidiary, not Venezuela (Crystallex International Corp v Petroleos de Venezuela SA)
  • Original news
  • What did the court decide?

Article summary

Law360, New York: The Third Circuit concluded on 3 January 2018 that a Delaware subsidiary of Venezuela's national oil company could not be sued by Canadian gold producer Crystallex International Corp. for allegedly orchestrating fraudulent transfers so Venezuela could avoid paying a $US 1.39 billion arbitration award from an International Centre for Settlement of Investment Disputes (ICSID) tribunal. or take a trial to read the full analysis.

Popular documents