Venezuela Creditors' Portal

Philadelphia, 22nd November 2019 –  A ruling by 13 judges of the U.S. 3^rd Circuit Court of Appeals in Philadelphia upheld the decision allowing Canadian miner Crystallex to attach the shares of CITGO to honour a $1.4 billion award over the nationalization of its Venezuelan operations. While this is an important victory for the miner, the company wouldn’t be able to seize CITGO’s shares yet as the U.S. Treasury is currently blocking any unlicensed transfer of Venezuelan assets in the U.S. Venezuela has hinted in the past that it would take the case to the Supreme Court if the court of appeals rejected its request for a rehearing. You can read more here: https://www.argusmedia.com/en/news/2020164-third-circuit-rejects-citgo-rehearing