Arguments over DE District Court Lift of Stay to Proceed with CITGO shares sales

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

Reply New Message

Prev Message Back To Forum Threaded View Next Message

KRY_Chaser

Rank: Vice President [?]

Points: 1218 [?]

Votes: 9 Score: 4.5 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Arguments over DE District Court Lift of Stay to Proceed with CITGO shares sales

posted on Nov 26, 2019 08:51AM

Good reading.

Continuing to stay the share sale is legally unwarranted as it would harm KRY's ability to collect on an award every court that has ruled on it agreed it is fair and legally binding on Venezuela.

The DE will allow the sale to proceed. Vzla will ask the Supreme Court for certiorary, which will be denied. KRY will not be able to execute the sale order because of the OFAC license requirement, but will have a ironclad first priority lien claim over the CITGO shares that secures the ICSID award collection once Venezuela comes out of the political and economic limbo it is in today.