Welcome to the Crystallex HUB on AGORACOM

Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

Free
Message: Crystallex requests new hearing in lawsuit against Pdvsa

The Canadian mining company Crystallex requested a new hearing before an appeals court in the United States to insist on its lawsuit against Petróleos de Venezuela, which seeks to collect $ 1,400 million in compensation for the expropriation of the company in Venezuela.

 

 

 

The request was introduced on Wednesday and tries to get the court to change its previous decision on the issue.Crystallex argues that Venezuela is hiding the money that must be paid using Pdvsa and Citgo, its US subsidiary.

 

 

 

The company claims that PDVSA has been making "fraudulent transfers that harm its creditors", such as the payment of dividends from PDV Holding to Pdvsa for $ 2.2 billion and the use of 49.9% of Citgo's shares as collateral for a loan granted by PDVSA. Rosneft in 2016.

 

 

 

One of the central arguments of the action of Crystallex is that PDVSA is the "alter ego" of the Republic and therefore hopes to prosecute the assets of the oil company to get the compensation to which it is entitled after the decision of the International Settlement Center. of Differences Relating to Investments (ICSID).

 

 

 

Crystallex assures that the decision of early January that dismissed its claim, "ignored or misinterpreted" the US law on fraudulent transfers.

Share
New Message
Please login to post a reply